Bitcoin is back
According to Crypto, the largest cryptocurrency in terms of market capitalization jumped 3.2 percent to $22,323 in New York trading after turning negative. Bitcoin has been trading mostly below this level since a series of regulatory measures were unveiled last week. Binance Coin also rose by around 3.5% while Ether rose by 4.9%.
Shawn Cruz, chief trading strategist at financial services firm TD Ameritrade, said: “It’s interesting to me that you’re seeing cryptocurrency rise as the SEC continues to crack down on a lot of these businesses. “I’m not entirely sure I expect this to last.”
Most cryptocurrencies fell on Monday, with the native token of the exchange Binance falling the most since the market crash in November.
For most of last year, Bitcoin was associated with stocks, especially tech stocks. They were all hit when the Federal Reserve began a campaign of raising rates and cutting liquidity to curb the fastest inflation in decades.
This connection was interrupted when the FTX exchange crashed, causing digital currencies to crash, and they returned in the new year.
The S&P 500 is up about eight percent in 2023, while the Nasdaq 100 is up 15 percent. Bitcoin is up 34% in 2023 after falling 64% last year.
The total value of the global market of digital currencies is currently estimated at 1.03 trillion dollars, which has increased by 3.06% compared to the previous day. Currently, 41.61% of the total digital currency market is owned by Bitcoin, which has decreased by 0.21% in one day.
The total volume of the digital currency market in the last 24 hours is 58.07 billion dollars, which has decreased by 4.66%. The total volume in decentralized finance is currently $5.32 billion, which is 9.17% of the total 24-hour cryptocurrency market volume. The volume of all stablecoins is now $55.48 billion, which is 95.54% of the total 24-hour cryptocurrency market volume.
Digital currency price update (up to 00:18 EST)
This category contains the price changes of the 10 largest digital currencies in terms of market capitalization.
1- Bitcoin
Price: 22 thousand and 222.44 dollars
Price changes in the last 24 hours: 2.60% increase
Price changes in the last week: 4.25% decrease
2- Ethereum
Price: $1,556.90
Price changes in the last 24 hours: 4.48% increase
Price changes in the last week: 6.44% decrease
3- Tether
Price: $1.00
Price changes in the last 24 hours: 0.04% decrease
Price changes in the last week: 0.04% increase
4- Binance Coin
Price: $297.66
Price changes in the last 24 hours: 2.72% increase
Price changes in the last week: 10.24% decrease
5- USD coin
Price: $1.00
Price changes in the last 24 hours: 0.01% increase
Price changes in the last week: 0.01 percent decrease
6- Ripple
Price: $0.3787
Price changes in the last 24 hours: 1.72% increase
Price changes in the last week, 5.71% decrease
7- Cardano
Price: $0.3871
Price changes in the last 24 hours: 8.91% increase
Price changes in the last week: 2.06% decrease
8 – Dogecoin
Price: $0.08335
Price changes in the last 24 hours: 2.28% increase
Price changes in the last week: 9.35% decrease
9- Solana
Price: $21.93
Price changes in the last 24 hours: 7.57% decrease
Price changes in the last week: 6.88% decrease
10-Polka dot
Price: $6.23
Price changes in the last 24 hours: 3.47% increase
Price changes of a recent week: 8.69% decrease