In cryptocurrencies, Bitcoin’s price today rose as the world’s largest and most popular cryptocurrency was trading about 3% higher at $23,202. The global crypto market cap today was up more than 3% in the last 24 hours to $1.09 trillion, as per the data by CoinGecko.
On the other hand, Ether, the coin linked to the ethereum blockchain and the second largest cryptocurrency, also gained over 5% to $1,623. Meanwhile, dogecoin price today was also trading over 4% higher at $0.08 whereas Shiba Inu jumped over 6% at $0.000011.
Other crypto prices’ today performance also improved as Tether, Stellar, XRP, Polkadot, Chainlink, XRP, Solana, Avalance, Polygon, Apecoin, Tron, Solana, Litecoin, Uniswap prices were trading with gains over the last 24 hours.
The crypto sector also continues to grapple with the fallout of the collapse of the FTX exchange. Bitcoin and a gauge of the top 100 tokens both shed more than 60% last year, hurt by rising borrowing costs and a series of crypto blowups. The overall market value of digital tokens has rebounded about $250 billion in January, according to CoinGecko data.
Digital assets are among the many investments that jumped at the start of 2023 on bets that central banks will slow or even reverse interest-rate hikes in the months ahead. But the sanguine stance is vulnerable to reversals, for instance if the Federal Reserve at its policy meeting next week pushes back against dovish expectations in the ongoing fight against inflation.
In another news, Celsius Network LLC is considering issuing a new digital-asset token to repay creditors as part of a proposal to reorganize and exit bankruptcy as a regulated crypto platform, reported Bloomberg.
(With inputs from agencies)
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