Cryptocurrency Price Today: The global cryptocurrency market rebounded on Thursday after days of carnage. Prior to the launch of Ethereum Merge, most cryptocurrencies recovered as traders remained hopeful about the event. Ethereum itself has zoomed in nearly 7 percent in the past 24 hours, providing a much-needed boost to the crypto market. The global cryptocurrency market on the day stood at $974.04 billion, up 3.72 percent from the previous day.
“The crypto market reacted sharply as the Federal Reserve hinted at a third rate hike of 75 basis points as part of its ongoing efforts to tackle inflation. The vice chairman of the Federal Reserve also expressed concern about crypto regulation, especially stablecoins, as they can significantly affect the mainstream financial system. The total crypto market cap increased by more than 4 percent and is just under $1 trillion,” said Tarusha Mitta, co-founder and COO of UniFarm.
Bitcoin price is up 2.27 percent today to once again surpass the $19,000 it lost a few days ago. At the time of writing this article, Bitcoin price was at $19,221.97 percent, data from CoinMarketCap showed.
“Bitcoin is up nearly 3 percent after falling to its lowest level of $18,558 on Tuesday. If BTC can stay above current levels today, we may soon be heading towards its $19,400 resistance level,” said Edul Patel, CEO and co-founder of Mudrex.
On the other hand, Ether enjoyed a comfortable day for the Merge. The Ethereum price today at the time of writing this article was $1,616.49, up 6.72 percent in the past 24 hours.
“The second-largest cryptocurrency, Ethereum, has gained more than 6 percent, breaking its initial resistance level at US$1,537 as excitement for the merger builds. If the volume continues to climb, we may see ETH break out its next resistance at US$1,650,” noted Patel.
“In the altcoin space, AVAX, DOT and MATIC witnessed healthy growth, with Terra Classic delivering double-digit growth of over 26 percent in 24-hour trading,” said Mittal.
“Current momentum in the crypto market could continue if macroeconomic factors surrounding the financial markets show signs of improvement. Any easing of monetary policy to support cheap loans could also lead to increased buying activity within the crypto ecosystem,” she added.
Here are the top 10 cryptocurrencies and their prices as of September 8, Thursday (data from coinmarketcap.com at the time of publishing this article)
Bitcoin $19,221.97 or 2.72 percent gain in the last 24 hours
Ethereum $1,616.49 or 6.72 percent gain in the last 24 hours
Tether $1.00 or 0.01 percent gain in the last 24 hours
USD Coin $1.00 or 0.01 percent loss in the last 24 hours
BNB $277.39 or 4.82 percent gain in the last 24 hours
Binance USD $1.00 or 0.03 percent loss in the last 24 hours
XRP $0.3304 or 2.95 percent gain in the last 24 hours
Cardano $0.4706 or 1.90 percent gain in the last 24 hours
Solana $32.80 or 5.17 percent gain in the last 24 hours
Dogecoin $0.06038 or 2.04 percent gain in the last 24 hours
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