Crypto Market Rallies on Spot Demand as Derivatives Trading Falters

The cryptocurrency market rose on Friday, led by Bitcoin and Ethereum, which posted gains despite a decline in derivatives trading activity. According to data compiled by TokenPostMarket, Bitcoin was trading at $63,670.90, up 1.31% over the past 24 hours, while Ethereum rose 1.58% to $1,726.19.

The large-cap altcoins also followed suit, with Solana jumping 4.92%, Hyperliquid climbing 4.64%, and BNB adding 2.26%. XRP gained 1.64%, Dogecoin rose 1.81%, and TRON edged up 0.54%.

The market capitalization stood at $2.190 trillion, while aggregate crypto trading volume over the last 24 hours totaled $54.96 billion. The combination of higher prices with moderate turnover suggests that the advance is being driven more by incremental spot demand than by a broad-based surge in risk-taking.