Today's Cryptocurrency Market News (May 6, 2025,

Market Overview:

The global cryptocurrency market capitalization stands at approximately $3.03 Trillion, reflecting a decrease of around 1.63% in the last 24 hours. Trading volume over the last 24 hours saw a significant increase of 16.39%, reaching $64.29 Billion. Bitcoin's dominance in the market is currently at 63.86%, showing a slight increase of 0.11% over the past day.

Top Cryptocurrencies Performance (as of around 10:30 AM IST):

| Name | Price (USD) | 24H Change | 7D Change | Market Cap (USD) |

|---|---|---|---|---|

| Bitcoin (BTC) | $94,050 | -0.90% | +0.93% | $1.88 Trillion |

| Ethereum (ETH) | $1,810 | -0.71% | +3.10% | $220.34 Billion |

| Tether (USDT) | $1.00 | -0.01% | -0.01% | $149.34 Billion |

| XRP (XRP) | $2.14 | -0.92% | -5.29% | $126.17 Billion |

| BNB (BNB) | $596.05 | +1.75% | -0.29% | $87.40 Billion |

| Solana (SOL) | $144.71 | -0.89% | -0.14% | $76.04 Billion |

| Dogecoin (DOGE) | $0.17 | -0.54% | -2.34% | $25.68 Billion |

| Cardano (ADA) | $0.66 | -2.75% | -3.25% | $24.19 Billion |

Key News and Developments:

* Bitcoin and Ethereum Remain Most Traded: Despite some corrections in traditional equity markets, Bitcoin (BTC) and Ethereum (ETH) continue to be the most actively traded cryptocurrencies globally and in India. Stablecoins like Tether (USDT) are also seeing significant use as a hedge against volatility.

* Bitcoin's Safe Haven Narrative: Analysts are debating whether Bitcoin can decouple from the NASDAQ and establish itself as a true safe-haven asset similar to gold. Recent data suggests a correlation between Bitcoin's price action and high-growth tech stocks during periods of market stress.

* Blockchain Innovation in India: India is witnessing increasing interest in blockchain technology, particularly in sectors like digital identity and supply chain management.

Dormant Bitcoin Address Activated: A Bitcoin address containing 2,343 BTC (valued at over $221 million) that had been inactive for nearly 12 years was activated. The reason for this activity is currently unknown