Amid global tariff uncertainty, the crypto market finally experienced a broad rally today, with the total market capitalization reaching $2.84 trillion- marking a 0.1% increase over the past 24 hours.
Crypto Market Rebounds
According to the info from SoSoValue, the AI sector led the charge for the second consecutive day, rising 5.12% in the last 24 hours. Among the AI cryptos, Render (RENDER), Fetch.ai (FET), and Bittensor (TAO) posted gains of 3.47%, 7.30%, and 12.74%, respectively.
Bitcoin (BTC) surged 2.51% to break above the $87,000 mark, while Ethereum (ETH) rose 1.70%, rising above $1,600.
Among key indices, MAG7.ssi increased by 1.67%, DEFI.ssi by 3.37%, and MEME.ssi by 1.09%.
Looking at other sectors, the DeFi sector grew by 2.42%, with Chainlink (LINK) jumping 5.34%, the Layer 2 sector rose 1.97%, led by Stacks (STX), which surged 13.80%. The Meme sector increased by 1.51%, with Fartcoin (FARTCOIN) spiking 8.52%, meanwhile, PayFi sector gained 1.37%, with Litecoin (LTC) up 4.45%. Lastly, the CeFi sector edged up 1.03%, while Layer 1 rose by 0.84%.
In terms of broader indices, the sector performance shows notable gains: ssiAI rose by 6.90%, ssiNFT by 2.86%, and ssiDePIN by 2.55%.
The market rebound followed US afternoon trading on Wednesday, after Federal Reserve Chairman Jerome Powell raised concerns about the potential economic impact of former President Trump’s proposed tariff regime.
Despite the crypto rally, Asian equities and US stock futures mostly trended downward, reflecting growing global uncertainty over trade tariffs.
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