New Delhi: The cryptocurrency market was trading higher on Wednesday, with Bitcoin (BTC) up 0.7% at nearly $21,300, while Ethereum (ETH) gained 1.1% to trade above the $1500 level.
BTC volume in the last 24 hours stood at approximately $24.59 billion, rising 0.93% in the last 24 hours.
Other top crypto tokens were also trading higher on Wednesday. Shiba Inu surged by 20%. Dogecoin, Polkadot and Binance were also trading with gains.
“Bitcoin’s value rose above $21,000 level in the past 24 hours due to a positive market reaction to China’s GDP figures. It is expected to reach its long-term resistance level of $21,400 if the trend continues. It has gained 21% in the past week and has had a positive effect on other cryptocurrencies. On the other hand, Ethereum also rose above $1,570 level, with the next immediate resistance at $1,600 and support at $1,500,” Edul Patel, CEO and Co-Founder of Mudrex said.
The global cryptocurrency market cap was trading higher around $997.11 billion, rising 0.76% in the last 24 hours.
The total volume in DeFi is currently $3.92 billion, 8.08% of the total crypto market 24-hour volume. The volume of all stablecoins is now $44.07 billion, which is 90.98% of the total crypto market 24-hour volume.
The price of Bitcoin, the world’s largest cryptocurrency, hovered around $409.98 billion, with a dominance of about 41.14%, a decrease of 0.04% over the day, according to CoinMarketCap.”The crypto market is setting big goals for itself with a market cap hovering close to the $1 trillion mark. It is highly satisfying to see Bitcoin testing the $22,000 level and it is expected to touch $23,000 before it faces any resistance. Solana is showing unexpected growth with a 44% jump in just 7 days which is broadly seen as a price correction after Solana got caught in the FTX fiasco,” Shivam Thakral, CEO of BuyUcoin said.
Crypto Cart: Quick
(Source: coinmarketcap.com, data as of 11.50 hours, IST on January 18, 2023)
Bitcoin $21,281 0.7%
Ethereum $1,583.77 1.12%
Tether $1 0.01%
USD Coin $1 -0.01%
BNB $302.78 1.08%
XRP $0.3875 -0.16%
Dogecoin 0.08827 5.09%
Cardano $0.3517 0.56%
Polygon $1.01 -0.67%
Polkadot $6.04 2.63%
Tron $0.06212 0.20%
Litecoin $87.62 -2.46%
Shiba Inu $0.00001257 20.25%
Solana $23.16 -1.54%
(Note: Price change in last 24 hours)
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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