Cryptocurrency price today: The global cryptocurrency market rebounded on Thursday after days of bloodshed. Prior to the launch of Ethereum Merge, most crypto coins rallied as traders remained hopeful for the event. Ethereum itself has soared nearly 7% in the past 24 hours, giving the crypto market a much-needed boost. The global cryptocurrency market on that day stood at $974.04 billion, an increase of 3.72% from the previous day.
“The crypto market reacted strongly when the Federal Reserve hinted at a third rate hike of 75 basis points as part of its continued efforts to fight inflation. also expressed concern over the regulation of crypto, especially stablecoins, as they have the potential to significantly impact the traditional financial system.The overall crypto market capitalization jumped over 4% and sits just below the $1 trillion mark,” said Tarusha Mitta, co-founder and COO of UniFarm.
The price of bitcoin jumped 2.27% today to rise above the $19,000 mark again, which it lost a few days ago. At the time of writing, the price of Bitcoin stands at 19,221.97%, according to data from CoinMarketCap.
“Bitcoin rose nearly 3% after falling to its lowest level of US$18,558 on Tuesday. If BTC can sustain above the current level today, we could see heading towards its resistance level at US$19,400 soon,” said Edul Patel, CEO and co-founder of Mudrex.
On the other hand, Ether enjoyed a comfortable pre-merger day. Ethereum’s price today at the time of writing was $1,616.49, up 6.72% in the last 24 hours.
“The second-largest cryptocurrency, Ethereum, has gained over 6% and broken its initial resistance level at $1,537 as merger enthusiasm builds. If volume continues to rise , we could see ETH breaking its next resistance at US$1,650,” Patel noted.
“In the altcoin space, AVAX, DOT and MATIC saw healthy growth with Terra Classic seeing double-digit growth of over 26% during the 24-hour trade,” Mittal said.
“The current momentum in the crypto market could continue if macroeconomic factors surrounding financial markets show signs of improvement. Any loosening of monetary policies to support low-cost lending may also lead to increased crypto activity. purchase within the crypto ecosystem,” she added.
Here are the top 10 cryptocurrencies and their prices as of Thursday, September 08 (data from coinmarketcap.com at the time of this article’s publication)
Bitcoin $19,221.97 or 2.72% gain in the last 24 hours
Ethereum $1,616.49 or 6.72% gain in the last 24 hours
Tether $1.00 or 0.01% gain in the last 24 hours
USD Coin $1.00 or 0.01% loss in the last 24 hours
BNB $277.39 or 4.82% gain in the last 24 hours
Binance USD $1.00 or 0.03% loss in the last 24 hours
XRP $0.3304 or 2.95% gain in the last 24 hours
Cardano $0.4706 or 1.90% gain in the last 24 hours
Solana $32.80 or 5.17% gain in the last 24 hours
Dogecoin $0.06038 or 2.04% gain in the last 24 hours
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