The cryptocurrency markets were trading higher on Tuesday, continuing their two-day winning run. Ethereum (ETH) was trading above the $1,650 mark while Bitcoin (BTC) increased 9.25% to $24,514. BTC trade was around $48.26 billion, up 39.89% over the previous day.
The market capitalization of all cryptocurrencies was up around $1.08 trillion in the meantime, increasing 5.11% over the previous 24 hours.
“Following the news that U.S. regulators have backed Silicon Valley Bank and Signature Bank, Bitcoin has increased by almost 10% over the past 24 hours, surpassing the US$24,000 level. This news has given investors, and traders hope that the banking sector’s recent near meltdown will motivate the Federal Reserve to ease its monetary hawkishness. BTC has risen above a floor and hit a two-week high as a result.”
The price of other popular crypto currencies was also rising. Trading for Bitcoin, Solana, Polygon, and Polkadot was up more than 3%.
DeFi’s total volume is presently 8.03 billion, or 8.83% of the 24-hour volume of the entire crypto market. Currently, the combined volume of all stablecoins is $86.66 billion, or 95.29 percent of the 24-hour value of the entire crypto market.
The biggest cryptocurrency in the world by market cap, Bitcoin, was valued at about $473 billion. According to CoinMarketCap, Bitcoin presently has a 43.70% market share, up 1.41% from the previous day.
“$25,300 is the next significant level that BTC needs to breach, after which $28,000 will be expected. Today’s spike in BTC supremacy to over 43% shows that short-term investors prefer BTC over altcoins. As the US CPI data is released tomorrow, some turbulence is anticipated this week.”
Bitcoin Price $24,514 9.25%
Ethereum Price $1,682 4.92%
Tether Price $1 0.03%
BNB Price $307.69 1.15%
XRP Price $0.3712 0.58%
Cardano Price $0.3447 1.71%
Polygon Price $1.18 3.75%
Dogecoin Price $0.07285 3.13%
Solana Price $20.45 3.90%
Polkadot Price $6.17 4.04%
Tron Price $0.0671 -1.99%
Shiba Inu Price $0.00001111 2.38%
Litecoin Price $81.27 4.20%
(Note: Price change in last 24 hours)