- The global cryptocurrency market cap today was up nearly 2% in the last 24 hours at $1.15 trillion
Cryptocurrency prices today rose with Bitcoin trading above $21,000 level. The world’s largest and most popular cryptocurrency was trading over a per cent higher at $21,522. The global crypto market cap today was above the $1 trillion mark, as it was up nearly 2% in the last 24 hours at $1.15 trillion, as per CoinGecko.
On the other hand, Ether, the coin linked to the ethereum blockchain and the second largest cryptocurrency, surged more than 3% to $1,673. Meanwhile, dogecoin price today was trading a per cent higher at $0.06 whereas Shiba Inu was almost flat at $0.000013.
Other crypto prices’ today performance were improved as BNB, Chainlink, Apecoin, XRP, Uniswap, Tron, Litecoin, Stellar, Binance USD, Polygon, Solana, Polkadot, Avalanche, Tether prices were trading with gains over the last 24 hours.
“Bitcoin, Ethereum, and most cryptocurrencies rose today ahead of the Federal Economic Symposium meetup. Bitcoin has been trading above its critical resistance level at $21,500 in the past 24 hours. This small upside move might give the market players a little confidence in a short-term bearish to bullish momentum,” said Edul Patel, CEO and Co-founder, Mudrex.
On the other hand, the Ethereum Foundation has released new information about the upcoming upgrade, indicating that all the preparations are going smoothly. The announcement confirmed that the upgrade will be fully completed between September 10th to 20th. “This announcement might likely keep buyers active in the market, pushing the price of ETH up,” Patel added.
Cryptos have struggled through the first half of the year. Bitcoin is down more than 50% this year and recently has been sitting in a range of about $19,000 to $25,000. The token has struggled in recent months as the Federal Reserve raised rates and inflation remained stubborn.
Bitcoin has recovered from its mid-June lows, but number-two crypto Ether has done even better amid enthusiasm about its coming Merge upgrade. The recent selloff in both tokens has left their ratio testing the lower end of a rising channel whose downside resolution might see the it tumble to around six, from highs of around 60 in 2019.
(With inputs from agencies)
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