The price of cryptocurrencies increased on Wednesday, with Bitcoin (BTC) rising 0.7% to close to $21,300 and Ethereum (ETH) rising 1.1% to trade beyond the $1500 mark.
BTC volume increased 0.93% over the previous 24 hours to around $24.59 billion.
On Wednesday, the prices of other popular crypto tokens increased as well. Shiba Inu saw a 20% increase. Additionally trading with gains were Dogecoin, Polkadot, and Binance.
“In the last 24 hours, Bitcoin’s value increased above $21,000 thanks to a favourable market response to China’s GDP numbers. If the trend holds, it is anticipated to reach its long-term resistance level of $21,400. It has increased by 21% in the last week and helped other cryptocurrencies. However, Ethereum also increased beyond $1,570; the next immediate barrier is at $1,600; while the support is at $1,500 “Mudrex’s CEO and co-founder, Edul Patel, stated.
The market capitalization of all cryptocurrencies was up around $997.11 billion, or 0.76%, over the previous day.
8.08% of the 24-hour volume of the whole crypto market, or $3.92 billion, is now being traded in DeFi. Stablecoin volume as a whole is currently $44.07 billion, or 90.98% of the 24-hour volume of the whole crypto market.
According to CoinMarketCap, the cost of Bitcoin, the biggest cryptocurrency in the world, was almost $409.98 billion, with a dominance of 41.14%, a drop of 0.04% from the previous day.
“With a market worth hovering just around $1 trillion, the cryptocurrency sector is aiming high for itself. It is quite encouraging to see Bitcoin testing the $22,000 mark and, before any resistance is encountered, it is predicted to reach $23,000. Solana is experiencing unanticipated growth with a 44% increase in just 7 days, which is generally seen as a price correction following Solana’s involvement in the FTX debacle “CEO of BuyUcoin, Shivam Thakral, remarked.
- Bitcoin Price $21,281 0.7%
- Ethereum Price $1,583.77 1.12%
- Tether Price $1 0.01%
- USD Coin Price $1 -0.01%
- BNB Price $302.78 1.08%
- XRP Price $0.3875 -0.16%
- Dogecoin Price 0.08827 5.09%
- Cardano Price $0.3517 0.56%
- Polygon Price $1.01 -0.67%
- Polkadot Price $6.04 2.63%
- Tron Price $0.06212 0.20%
- Litecoin Price $87.62 -2.46%
- Shiba Inu Price $0.00001257 20.25%
- Solana Price $23.16 -1.54%
(Note: Price change in last 24 hours)