Cryptocurrency prices today gained with Bitcoin trading above the $37,000 mark. The world’s largest and most popular digital token was up over 1.3% at $37,364, however, is down 19% in 2022 (year-to-date or YTD) so far. Meanwhile, the global cryptocurrency market capitalisation today surged over 1% to $1.8 trillion, as per CoinGecko.
Similarly, Ether, the coin linked to ethereum blockchain and the second largest cryptocurrency, rose marginally to $2,681, as per CoinDesk. On the other hand, Binance Coin was also up more than a per cent at $371.
Dogecoin price gained to $0.13 whereas Shiba Inu was trading at $0.000021. The performance of other cryptos also improved as XRP, Stellar, Avalanche, Cardano, Solana, Polygon, Terra, prices were trading with gains over the last 24 hours.
During the brutal cryptocurrency selloff last month, crypto volumes also tumbled. Total spot volume slumped to $1.8 trillion in January, a decline of more than 30% from the previous month, according to a report from CryptoCompare. That was the lowest turnover since the end of 2020. Even at its intra-month peak of $91 billion on January 24, trading was down nearly 50% from December, as reported by Bloomberg.
Bitcoin, the largest cryptocurrency, has lost a fifth of its value this year, while some smaller coins, as well as tokens influenced by social-media sentiment, have posted even larger drops.
(With inputs from agencies)
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