In cryptocurrency, the price of Bitcoin, the world’s largest and most popular cryptocurrency today, was trading around 2% higher at $19,548. According to CoinGecko, the global crypto market cap remained below the $1 trillion mark today, even though it lost more than one percent to $979 billion in the past 24 hours.
Ether, on the other hand, is the coin linked to the Ethereum blockchain and the second largest cryptocurrency, rose more than 2% to $1,321. Meanwhile, the price of Dogecoin rose marginally to $0.06 today while the Shiba Inu also rose slightly to $0.0000011.
,Bitcoin Starting the week on a positive note, traded in the green in line with equities on Monday. Market participants opened up their risk appetite to start a new fourth quarter. Even though BTC gained a decent percentage, the coin remained well below its all-time high. If BTC can continue the gains for the day, we could soon reach $20,000. Volatility in the crypto market has increased in recent weeks as market participants reacted to rising inflation and volatility in the US dollar by staying away from riskier assets,” said Edul Patel, CEO and co-founder of Mudrex.
Today’s performance of other crypto prices also improved as Avalanche, Binance USD, Polkadot, Cardano, Chainlink, Tether, Apcoin, Solana, Litecoin, XRP, Stellar, Terra, Tron, Polygon price traded with gains in last 24 hours. while the Terra Luna Classic and Stellar slipped.
Global markets have plunged over the past few months as central banks around the world raised interest rates to curb rising inflation. Risk assets such as cryptocurrencies have been particularly hard hit as bearish fears mount.
Money out of crypto-related funds slowed in the third quarter, a sign that many bearish investors have already exited the riskier asset class. Investors pulled out $17.6 million from crypto exchange-traded funds in the three months ended September 30, according to data compiled by Bloomberg Intelligence.
(with inputs from agencies)
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