Bitcoin, dogecoin, other crypto prices today surge. Check latest rates

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Cryp­tocur­ren­cy prices today gained with Bit­coin above the $30,000 lev­el around which it has been trad­ing for the past month. The world’s largest and most pop­u­lar cryp­tocur­ren­cy rose more than 4% and was trad­ing at $30,878. The dig­i­tal token is down over 35% so far this year, and trad­ing far below its record high of $69,000 it had hit in Novem­ber 2021.

On the oth­er hand, Ether, the coin linked to the ethereum blockchain and the sec­ond largest cryp­tocur­ren­cy, gained about 4% to $1,862. Mean­while, doge­coin price today was trad­ing 2% high­er at $0.08 where­as Shi­ba Inu also was up near­ly 3% to $0.000011. The glob­al cryp­tocur­ren­cy mar­ket cap today is $1.32 tril­lion, up about 3% change in the last 24 hours.

Oth­er dig­i­tal tokens’ per­for­mance also improved as Car­dano, Stel­lar, Uniswap, XRP, Lite­coin, Tron, Teth­er, Solana, Polka­dot, Avalanche, Poly­gon, Chain­link prices were trad­ing with gains over the last 24 hours, how­ev­er, Ter­ra Luna Clas­sic plunged about 4%. 

Cryp­tocur­ren­cies have been swept up in a sell-off this year in risk assets, which has picked up steam as data showed US infla­tion run­ning hot, deep­en­ing investor fears about the eco­nom­ic impact of aggres­sive cen­tral bank tight­en­ing, and Ter­ra crash.

Mean­while, cryp­tocur­ren­cies have increas­ing­ly been dri­ven by fluc­tu­a­tions in tech stocks. Since March 2020, there has been a strong pos­i­tive cor­re­la­tion between Bit­coin and the Nas­daq 100, with the rela­tion­ship inten­si­fy­ing in this year’s selloff.

Total assets under man­age­ment (AUM) across dig­i­tal asset invest­ment prod­ucts fell 28.6% sequen­tial­ly to $34.2 bil­lion as of 26 May amid a major fall in prices of var­i­ous cryp­tocur­ren­cies, accord­ing to a report by dig­i­tal asset data provider CryptoCompare.

In indi­vid­ual assets, Bitcoin’s AUM fell 26.8% to $24.0 bil­lion in May, while slight­ly gain­ing mar­ket share, cur­rent­ly at 70% of the total AUM, up from 68% in April. More­over, ethereum’s AUM fell 33.9% to $8.52 billion.

Despite huge loss­es in AUM, aggre­gate dai­ly vol­umes across all cryp­to funds rose by an aver­age of 5% from April to May (till 26 May). This is the first month-on-month increase since Octo­ber 2021.

(With inputs from agencies)

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