Cryptocurrency Prices Surging Today as Bitcoin, Ether, Dogecoin Surge

 

• Cryptocurrencies witnessed a market-wide rally with minor gains in the last 24 hours

Among cryptocurrencies, the world's largest and most popular digital token bitcoin price was trading above the $16,000 mark today with a gain of over 4% at $16,463. On the other hand, Ether, the coin associated with the Ethereum blockchain and the second largest cryptocurrency, also gained more than 5% to $1,159.

“Bitcoin, Ethereum, and most cryptocurrencies saw a market-wide rally bouncing off their yearly lows with minor gains in the past 24-hours. Bitcoin price is set above resistance at $15,932. If bulls continue to take the initiative received today, If it can hold, BTC is likely to trade above $16,300 soon. Ethereum, on the other hand, bounced off the level despite hitting a low of $1,074. A decline could be triggered by a number of institutional investors actively using ETH for trading. If the bulls can hold ETH above current levels, we could see it trading towards the $1,200 level by the end of the day," said Edul Patel, CEO and co-founder of Mudrex.

According to CoinGecko data, the global crypto market cap remained below the $1 trillion mark today, even as it surged over 4% to $855 billion over the past 24 hours.

Meanwhile, Dogecoin price was trading up over 8% today at $0.07, while Shiba Inu was trading up over 6% at $0.000008. Other crypto price performance improved today as well as Binance USD, Avalanche, Tether, Terra, Stellar, Polkadot, Solana, Uniswap, Appcoin, Tron, Polygon, XRP, Cardano, Chainlink, Litecoin with gains in the last 24-hours Was doing business.

Crypto prices plummeted this month following the collapse of Sam Bankman-Fried's FTX empire. Now, investors are looking to other crypto companies to see how far the contagion can spread. Genesis, a digital-asset brokerage, warned of possible bankruptcy unless it can raise cash. Crypto lender BlockFi Inc. is also struggling to stay afloat. According to Glassnode's analysis, money has flowed out of exchanges when investors sought the assurance of self-custody.