Among cryptocurrencies, the price of bitcoin rose as the world’s largest and most popular cryptocurrency today traded higher by almost 3% at $23,202. According to CoinGecko data, the global crypto market cap grew by over 3% in the last 24 hours to $1.09 trillion today.
On the other hand, Ether, the coin associated with the Ethereum blockchain and the second largest cryptocurrency, also rose more than 5% to $1,623. Meanwhile, Dogecoin price was still trading higher today by over 4% at $0.08 while Shiba Inu was up by over 6% at $0.000011.
Other crypto prices improved today as well as Tether, Stellar, XRP, Polkadot, Chainlink, XRP, Solana, Avalanche, Polygon, Appcoin, Tron, Solana, Litecoin, Uniswap are trading with gains in the last 24-hours. Was
The crypto sector is also grappling with the fallout of the FTX exchange collapse. Bitcoin and a gauge of the top 100 tokens both fell more than 60% last year, hurt by rising borrowing costs and a series of crypto blowups. According to data from CoinGecko, the total market capitalization of digital tokens has grown to nearly $250 billion in January.
The digital asset is one of a number of investments starting in 2023 betting that the central bank will slow or reverse interest rate hikes in the coming months. But the optimistic stance is vulnerable to reversals, for example if the Federal Reserve pushes back against softer expectations in its ongoing fight against inflation at its policy meeting next week.
In other news, Celsius Network LLC is considering issuing a new digital-asset token to repay creditors, as part of a proposal to reorganize and exit bankruptcy as a regulated crypto platform, Bloomberg reported. is as.
(with inputs from agencies)
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