Bitcoin Above $24,500; Ether, Solana Surge Up To 11%
Cryptocurrency Prices Today: The cryptocurrency market surged after a softer-than-expected inflation report, with Ethereum leading the pack. All major cryptocurrencies traded in the green as the global crypto market cap rose 6.62 per cent to $1.16 trillion from the previous day. The total crypto market volume increased 29.58 per cent to $89.81 billion over the last 24 hours.
Edul Patel Co-Founder & CEO of Mudrex, said: “We witnessed both a rise in trading volumes and the overall crypto market cap. This rally can be attributed to the largest altcoin, Ether, which shot past the $1800 mark. Bitcoin seemed to hover around the $24,000 mark bringing back investor confidence. The rising trading volumes over the past couple of days show that market participants are finally coming back to the crypto market.”
Bitcoin, the largest cryptocurrency by market capitalisation, climbed 6.06 per cent to $24,260 in the last 24 hours, taking its seven-day gains to 4.86 per cent.
Ethereum soared 11.88 per cent to $1874.50. This crypto has jumped 13.5 per cent in the last seven sessions. BNB rose 4.88 per cent to $330.69.
Manoj Dalmia, founder & director, Proassetz Exchange, said: “After a sharp downward move, Ethereum has given a pullback after the upward breakout from an accumulation zone, which formed between the range of $1280 -$1000. A strong support level of $1000 and $ 1350 has supported the current upward movement. If Ethereum jumps above $ 2250 with volume breaking its next resistance than another upward movement towards $2600 can be achieved.”
Cardano and XRP added 6.6 per cent and 5 per cent, respectively. Polkadot rallied 10.32 per cent to $9.49. Solana advanced 8.69 per cent to $42.76.
In other news, over seven per cent of India’s population owns digital currency, according to the UN, which said that the use of cryptocurrency rose globally at an unprecedented rate during the COVID-19 pandemic, PTI reported. The UN trade and development body UNCTAD said that in 2021, developing countries accounted for 15 of the top 20 economies when it comes to the share of the population that owns cryptocurrencies.
Here are the top 10 cryptocurrencies and their prices on August 11, 2022, Wednesday, (According to data from coinmarketcap.com)
Bitcoin $24,461.77 or 6.01 per cent gain in the last 24 hours
Ethereum $1,883.48 or 10.92 per cent gain in the last 24 hours
Tether $1.00 or 0.02 per cent gain in the last 24 hours
USD Coin $0.9999 or 0.02 per cent gain in the last 24 hours
BNB $329.60 or 3.04 per cent loss in the last 24 hours
XRP $0.3807 or 4.83 per cent loss in the last 24 hours
Binance USD $1 or 0.05 per cent gain in the last 24 hours
Cardano $0.5177 or 1.33 per cent gain in the last 24 hours
Solana $44.03 or 10.70 per cent loss in the last 24 hours
Polkadot $8.70 or 2.08 per cent loss in the last 24 hours
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