Crypto Markets Today: BTC, ETH Hold Gains as Aster’s Leverage-Fueled Volume Hits $64B

In the latest market update, Bitcoin is trading at $112,900 and Ethereum at $4,150, reflecting gains of 0.78% and 1.1% respectively as derivatives metrics show an improving market sentiment. Open interest in Bitcoin futures has rebounded to $31 billion, up from $29 billion, indicating renewed trader engagement. Aster, a new decentralized exchange, is capturing significant attention with a staggering $64 billion in daily trading volume, driven by leverage of up to 300x. This figure far surpasses HyperLiquid's $7.6 billion. Positive funding rates on leading exchanges signal growing confidence among long position traders. However, the Aster and HYPE tokens themselves have seen declines amid a broader sell-off in the altcoin market, with a stark contrast between trading volume and token performance. The market is evidencing a polarized sentiment, balancing between bullish strategies and cautious hedging, as traders position themselves for possible upward price movements in the near future.

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