Bitcoin rose 0.82% and held near the $21,000 mark, whereas Ethereum was comfortably trading above $1,500 levels. BTC volume in the last 24 hours stood at approximately $21.1 billion, falling 29.2% in the last 24 hours.
“The demand for BTC is mainly driven by institutional investors who have been long-term holders of the largest digital asset. Ether, which has historically followed the BTC trend, is also sitting on a strong support level of $1500. We can expect the market to remain on this growth trajectory if we don’t get any surprising news headlines,” Shivam Thakral, CEO of BuyUcoin said.
The global cryptocurrency market cap was trading higher around $977.54 billion, rising 0.85% in the last 24 hours.
The total volume in DeFi is currently $3.3 billion, 8.16% of the total crypto market 24-hour volume. The volume of all stablecoins is now $37.01 billion, which is 91.59% of the total crypto market 24-hour volume.
The market cap of Bitcoin, the world’s largest cryptocurrency, hovered around $404.2 billion, with a dominance of about 41.39%, a decrease of 0.01% over the day, according to CoinMarketCap.
“Crypto markets continued their upward trend in prices, even though there was a major blip in trajectory after the US Department of Justice announced enforcement action against Russian exchange Bitzlato. The other major scare for the markets has been the rumoured bankruptcy of Genesis, crypto’s biggest lender and part of the behemoth, Digital Currency Group. The Genesis bankruptcy still can’t be ruled out completely and we can expect market gyrations around related developments,” Chaturvedi, Crypto Ecosystem Lead at CoinSwitch said.Crypto Cart: Quick (Source: coinmarketcap.com, data as of 11.10 hours, IST on January 20, 2023)
- Bitcoin $20,981 0.83%
- Ethereum $1,547.42 1.29%
- Tether $1 0.01%
- USD Coin $1 -0.01%
- BNB $289.4 -0.36%
- XRP $0.3886 1.6%
- Dogecoin 0.08103 0.05%
- Cardano $0.3369 1.54%
- Polygon $0.9451 -0.14%
- Polkadot $5.81 0.68%
- Tron $0.06011 0.90%
- Litecoin $83.63 0.11%
- Shiba Inu $0.00001142 2.1%
- Solana $21.08 -1.66%
(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)