India, Aug. 5 -- The surge in equity markets propelled by strong corporate earnings, the plunge in crude oil prices and renewed expectations about a Hormuz deal manifested in cryptocurrency markets as well, albeit on a muted scale. Aggregate crypto market capitalization has increased around 0.4 percent in the past 24 hours. In contrast, Wall Street's tech-heavy Nasdaq Composite surged 2.6 percent on Tuesday.
In Wednesday's trading, South Korea's KOSPI has surged 3.8 percent and Japan's Nikkei 225 has jumped 3.6 percent. Wall Street futures are currently trading around half a percent higher.
While a short squeeze in crypto liquidations, an increase in ETF inflows and a mild dip in rate hike expectations supported crypto market sentiment, t...