BTC volume in the last 24 hours stood at approximately $24.59 billion, increasing 0.93% in the last 24 hours.
Other major crypto tokens also traded higher on Wednesday. Shiba Inu increased by 20%. Dogecoin, Polkadot, and Binance were also trading with gains.
โThe value of Bitcoin rallied above the $21,000 level in the last 24 hours due to a positive market reaction to the GDP figures from China. It is expected to reach its long-term resistance level of $21,400 if the trend continues. It has gained 21% in the last week and has had a positive effect on other cryptocurrencies. On the other hand, Ethereum also rallied above the $1570 level, with next immediate resistance at $1600 and support at $1500." said Edul Patel, CEO and co-founder of Mudrex.
The global cryptocurrency market capitalization was trading higher at around $997.11 billion, up 0.76% in the last 24 hours.
The total volume in DeFi is currently at $3.92 billion, 8.08% of the total 24-hour volume of the crypto market. The volume of all stablecoins is now at $44.07 billion, which is 90.98% of the total 24-hour volume of the crypto market.
The price of Bitcoin, the world's largest cryptocurrency, was around $409.98 billion, with a dominance of around 41.14%, down 0.04% over the day, according to CoinMarketCap. hovering near the $1 trillion mark. It is very satisfying to see Bitcoin testing the $22,000 level and it is expected to touch $23,000 before it faces any resistance. Solana is showing unexpected growth with a 44% jump in just 7 days, which is widely seen as a price correction after Solana got caught up in the FTX fiasco," said Shivam Thakral, CEO of BuyUcoin.
Crypto Cart: Fast
(Font: coinmarketcap.comdata as of 11:50 a.m. IST Jan 18, 2023)
Bitcoin $21,281 0.7%
Ethereum $1,583.77 1.12%
Mooring $1 0.01%
Currency USD $1 -0.01%
BNB $302.78 1.08%
XRP $0.3875 -0.16%
Dogecoin 0.08827 5.09%
Cardano $0.3517 0.56%
Polygon $1.01 -0.67%
Polka dots $6.04 2.63%
Tron $0.06212 0.20%
Litecoin $87.62 -2.46%
Shiba-Inu $0.00001257 20.25%
Solana $23.16 -1.54%
(Note: price change in the last 24 hours)
(Disclaimer: The recommendations, suggestions, views and opinions given by the experts are my own. These do not represent the views of The Economic Times)
