Bitcoin, ether, other crypto prices today fall while Uniswap, Polkadot gain

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In cryp­tocur­ren­cies, the world’s largest and most pop­u­lar dig­i­tal token Bit­coin’s price today slipped below the $17,000 mark was trad­ing more than a per cent low­er at $16,928. The glob­al cryp­tocur­ren­cy mar­ket cap today remained below the $1 tril­lion mark, as it was down over a per cent in the last 24 hours to $887 bil­lion, as per the data by CoinGecko.

The val­ue of bit­coin peaked at near­ly $69,000 in Novem­ber 2021 before falling to around $17,000 by mid-June 2022, where it is still hov­er­ing now.

On the oth­er hand, Ether, the coin linked to the ethereum blockchain and the sec­ond largest cryp­tocur­ren­cy, also fell by near­ly a per cent to $1,273. Mean­while, doge­coin price today was trad­ing more than 5% low­er at $0.09 where­as Shi­ba Inu was down over a per cent at $0.000009.

“Bit­coin trad­ed side­ways in the past 24 hours as the mar­ket react­ed to the Fed’s poli­cies. After col­laps­ing in mid-Novem­ber, BTC’s price is now back to the $17,000 lev­el. How­ev­er, BTC is trad­ing below its annu­al min­i­mum peak of $17,500 in June. If bulls can move above the $17,500 hold­ing on to it, we could see BTC at the $18,000 lev­el soon. On the oth­er hand, Ethereum was seen chang­ing hands above the $1,270 lev­el. The next tar­get for ETH bulls would be at the $1,350 lev­el,” said Edul Patel, CEO and Co-founder, Mudrex.

Oth­er cryp­to prices’ today per­for­mance were mixed as Binance USD, Avalanche, Teth­er, Ter­ra, Solana, Tron, Poly­gon, ApeCoin, Lite­coin, Stel­lar, XRP, Car­dano prices were trad­ing with cuts over the last 24 hours where­as Uniswap, Polka­dot, Chain­link gained.

A lead­ing US finan­cial reg­u­la­tor has urged law­mak­ers to act quick­ly to install a reg­u­la­to­ry frame­work for dig­i­tal assets fol­low­ing the spec­tac­u­lar col­lapse of cryp­tocur­ren­cy exchange FTX, report­ed Bloomberg.

FTX filed for bank­rupt­cy and Bankman-Fried stepped down as chief exec­u­tive on Novem­ber 11, 2022, days after traders pulled $6 bil­lion from the plat­form and rival exchange Binance aban­doned a res­cue deal. 

Cryp­to lender Block­Fi Inc. filed for bank­rupt­cy this week, while bro­ker­age Gen­e­sis is seek­ing to avoid a sim­i­lar fate. But indus­try defend­ers such as Chang­peng  Zhao, the founder of the world’s largest cryp­to exchange Binance Hold­ings Ltd, have said this isn’t the end.

(With inputs from agencies)

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