The cryptocurrency price climbed above $43,000 today with bitcoin trading below the $39,000 level in the previous session. world’s most popular and largest cryptocurrency increased by more than 13% to $43,190. Meanwhile, according to CoinGecko, the global cryptocurrency market capitalization is today back by more than 10% in the past 24 hours, to $2 trillion.
Similar to Ether, the coin tied to the Ethereum blockchain and the second largest cryptocurrency in terms of market capitalization also rose more than 10% to $2,912. On the other hand, the price of Dogecoin increased by almost 7% to $0.13, while the Shiba Inu also gained more than 8% to $0.000026.
Other digital tokens also improved with Terra rising over 20%, while Solana, XRP, Avalanche, Stellar, Polygon, Litecoin, Cardano, Polkadot, Terra prices in the range of 6-18% over the past 24 hours was doing business with profit. ,
Bitcoin’s volatility during the escalating geopolitical tensions over the past few weeks has served to undermine the argument that the cryptocurrency offers a hedge in times of trouble. The digital token is down about 6% so far in 2022 (Year-to-date or YTD), while it is still more than 30% away from its all-time high of $69,000 in November 2021.
The recent volatility in crypto comes amid a broad market sell-off driven by investors restructuring their portfolios to account for a more aggressive Fed, which is now expected to raise rates by up to seven times this year as it fights rising inflation. fights with.
In another news, a Bloomberg report suggested that the Biden administration is asking crypto exchanges to help ensure that sanctions imposed by Washington come amid tighter sanctions imposed by the US and its allies after Russia. Russian individuals and organizations are not using virtual currencies to survive. Ukraine was attacked last week.
(with inputs from agencies)
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