Cryptocurrencies gained on Wednesday. The global crypto market cap stood at $809.9 billion, with a volume of $27 billion in the past 24 hours.
Bitcoin| The world’s largest and most popular virtual currency, Bitcoin, rises 0.4 percent to $16,747.3, holding ground below $17,000. Its market value stood at $321.8 billion. The trade volume was at $14.1 billion.
“Bitcoin is attempting to break through the $16,800 resistance level, and if it succeeds, it could encourage bullish investors to make further moves. The volume of trades increased slightly, which suggests that bullish sentiment is currently stronger than bearish sentiment,” said Edul Patel, CEO and Co-Founder of Mudrex.
Ethereum | The second largest virtual currency, Ethererum or Ether, was up 2.3 percent at $1,242.2 at the last count, with a market capitalisation of $150 billion. The trade volume of Ethereum was $3.7 billion in the last 24 hours.
On Ethereum, Patel said, “Ethereum has been trying to break through the $1,250 resistance level. If it can do so, the next level of resistance to watch for would be $1,300.”
Dogecoin | Meme-based virtual currency, Dogecoin, rose 1.2 percent on Wednesday. Its market value stood at $9.5 billion. The trade volume was at $299.7 billion.
Solana | Solana jumped 25.1 percent to $13.9 with a market capitalisation of $5.1 billion. The trade volume of Solana was $1.3 billion in the last 24 hours.
Shiba Inu | Shiba Inu rose 1.5 percent with a market capitalisation of $4.5 billion. The trade volume was $82.7 million in the last 24 hours.
Polygon | Polygon rose 3.5 percent to $0.8 with a market capitalisation of $7 billion. The trade volume was $207.7 million in the last 24 hours.First Published: Jan 4, 2023 8:52 AM IST
