Cryptocurrency prices rose more than 5% today with the world’s largest and most popular digital token bitcoin trading at $19,088. According to CoinGecko, the global crypto market cap was below the $1 trillion mark today, even though it rose nearly one percent to $969 billion in the past 24 hours.
Ether, on the other hand, is the coin linked to the Ethereum blockchain and the second largest cryptocurrency, also increased 3% to $1,330. Meanwhile, Dogecoin is trading up more than 3% today at $0.06, while the Shiba Inu is up more than 6% to $0.0000011.
Today’s performance of other crypto prices has also improved as Avalanche, Binance USD, Polkadot, Cardano, Chainlink, Tether, Apcoin, Solana, Litecoin, Terra, Stellar, XRP, Tron, Uniswap, Cardano, Polygon prices in the past days was trading with marginal profit. twenty four hours
“Bitcoin, Ethereum, and most cryptocurrencies turned green following the release of US Consumer Price Inflation data for September, which was higher than expected. BTC nearly 4% after falling to a low of $18,300 following the release of the CPI % surge. If ETH can close above US$1,400, we could see an upward trend,” said Edul Patel, CEO and Co-Founder, Mudrex- a global crypto investment platform.
A key gauge of US consumer prices rose to a 40-year high in September, underscoring the persistent, heightened inflation that is squeezing homes and pushing the Federal Reserve toward another aggressive rate hike.
The main consumer price index, which does not include food and energy, rose 6.6% from a year earlier, the highest level since 1982, according to data released Thursday by the US Labor Department. From a month earlier, the core CPI climbed 0.6% for the second month.
(with inputs from agencies)
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