Cryptocurrency Price Today: The global cryptocurrency market bounced back on Thursday after days of bloodbath. Ahead of the Ethereum Merge launch, most crypto coins rebounded as traders remained hopeful of the event. Ethereum itself zoomed nearly 7 per cent over the past 24 hours, giving a much-needed boost to the crypto market. The global cryptocurrency market on the day was standing at $974.04 billion, a 3.72 per cent increase over the past day.
“The crypto market responded sharply as the Federal reserve hinted toward a third rate hike of 75 basis points as a part of its continued efforts to tackle inflation. The Federal reserve Vice chairwoman also expressed her concerns on crypto regulation especially stablecoins as they have the potential to impact the mainstream financial system in a significant way. The overall crypto market cap jumped by over 4 per cent and is just below the $1 trillion mark,” said Tarusha Mitta, co-founder and COO of UniFarm.
Bitcoin price today jumped by 2.27 per cent to edge past the $19,000 mark again, which it lost a couple days ago. At the time of writing this article, Bitcoin price was standing at $19,221.97 per cent, data from CoinMarketCap showed.
“Bitcoin is up by nearly 3 per cent after falling to its lowest level at US$18,558 on Tuesday. If BTC can hold above the current level today, we might see moving 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 day ahead of the Merge. Ethereum price today at the time of writing this article was $1,616.49, up by 6.72 per cent in the past 24 hours.
“The second largest cryptocurrency, Ethereum, has gained more than 6 per cent and has broken its initial resistance level at US$1,537 as excitement for the Merge gains momentum. If the volume keeps rising, we might 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 per cent during the 24-hour trade,” said Mittal.
“The current momentum in the crypto market may sustain if macroeconomic factors surrounding the financial markets show signs of improvement. Any relaxation in monetary policies to support low-cost lending can also result in increased buying activity within the crypto ecosystem,” she added.
Here are the top 10 cryptocurrencies and their prices on September 08, Thursday (data from coinmarketcap.com at the time of publishing this article)
Bitcoin $19,221.97 or 2.72 per cent gain in the last 24 hours
Ethereum $1,616.49 or 6.72 per cent gain in the last 24 hours
Tether $1.00 or 0.01 per cent gain in the last 24 hours
USD Coin $1.00 or 0.01 per cent loss in the last 24 hours
BNB $277.39 or 4.82 per cent gain in the last 24 hours
Binance USD $1.00 or 0.03 per cent loss in the last 24 hours
XRP $0.3304 or 2.95 per cent gain in the last 24 hours
Cardano $0.4706 or 1.90 per cent gain in the last 24 hours
Solana $32.80 or 5.17 per cent gain in the last 24 hours
Dogecoin $0.06038 or 2.04 per cent gain in the last 24 hours