The cryptocurrency market is showing some strength today, allaying concerns from Omicron, the new coronavirus variant that has rocked global markets recently.
Bitcoin price rose slightly today, trading at $57,051.09, but still below all-time highs with a market cap of over $1 trillion. The world’s largest crypto asset recently hit a high of nearly $69,000 and is up over 95.88% so far this year (Y-o-Y or YTD).
The global crypto market cap currently stands at $2.66 trillion, marginally higher than the previous day.
Meanwhile, Ethereum, the second largest cryptocurrency, is up over 6% at $4,713, according to data from Coindesk.
Ether has surpassed bitcoin this year by the largest amount since the Ethereum network’s native token was launched in 2015 as an alternative to the native cryptocurrency.
The token is once again heading towards record highs, a rally whose trek extended last weekend amid widespread risk-asset turmoil. But after bouncing off its 50-day moving average on Monday, Ether broke to the upside and is up nearly 13% since Friday.
While both are down from record highs earlier this month, Ether has gained nearly 530% since December, compared to doubling in the value of bitcoin, widening the performance gap between the two by more than 400 percentage points. has gone.
According to Coinmarketcap, the price of Dogecoin is down 2.99% today to $0.2142, while the Shiba Inu is up more than 16% to $0.00004508. Bankless DAO (Bank) Coin has emerged as the biggest gainer with a gain of over 6,000% in the last 24 hours.
Other cryptocurrencies such as Solana, Binance Coin and Terra gained gains, while XRP, Polkadot and Cardano were trading lower over the past 24 hours.
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