Global Crypto Market Cap Hits $2.16T Amid Interest Rate Hike Uncertainty

The global cryptocurrency market cap has reached $2.16 trillion, marking a decline of 1.13% in the last day, according to CoinMarketCap data.

Bitcoin (BTC) has been trading between $61,545 and $63,283 over the past 24 hours, with a current price of $62,927 at 09:30 UTC, representing a 1.58% increase.

The market is being driven by various factors, including a divided Federal Reserve on interest rate hikes, a surge in semiconductor funding, and the growing use of stablecoins.

The SK Hynix IPO has raised $24.5 billion, making it one of the largest debut listings in the US this year. The company's shares have fallen 30% since reaching an all-time high in June.