• Global cryptocurrency market cap nearly flat to $847 billion over the past 24 hours today
In cryptocurrencies, bitcoin price traded almost flat today with the world's largest and most popular digital token trading with a positive bias at $16,871. The global cryptocurrency market cap remained below the $1 trillion mark today, according to data from CoinGecko, as it remained nearly flat to $847 billion over the past 24 hours.
On the other hand, Ether, the coin associated with the Ethereum blockchain and the second largest cryptocurrency, was almost flat at $1,220. Meanwhile, Dogecoin price was trading at $0.07 today, while Shiba Inu was down at $0.000008.
“Bitcoin price remained below the $17,000 mark for the weekend. Over the past few days, bitcoin has faced resistance from both sides, indicating a lack of consensus among market participants. level, it could resume its previous uptrend. Meanwhile, Ethereum has been relatively stable over the weekend, lacking momentum for a significant price move. It is currently trading without It is trading in a narrow range with no clear bullish or bearish signals. If the price climbs above the $1,230 support, it could potentially see an upside move," Mudrex CEO and Co-Founder Edul Patel said.
Other crypto price performance today such as Binance USD, Avalanche, Tether, Terra, Solana, Polygon, Stellar, XRP, Cardano, Litecoin, Polkadot, Chainlink, Appcoin, Tron, Solana, Uniswap prices were also flat over the past 24 hours.
After reaching record highs late last year, 2022 has been a rough time for cryptocurrencies, impacted by everything from Fed policy tightening implications to the Terra/Luna ecosystem, hedge funds Three Arrows Capital and exchange FTX. Digital assets have suffered heavily this year as the Federal Reserve and other major central banks around the world raised interest rates to fight historic inflation.
FTX's collapse last month was the most shocking in a series of shutdowns this year by major market players, including Celsius and Voyager, leading coins TerraUSD and Luna, that have shaken investment sentiment.
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