“The overall crypto market remains stable, with Bitcoin and Ether showing marginal jump after witnessing a strong upswing yesterday. Solana, which was caught in the FTX collapse, received a new lease of life in 2023 with a mega rally of 42% in the past 7 days,” Shivam Thakral, CEO of BuyUcoin, said.
The current favourable macroeconomic factors are boosting the value of dormant crypto assets and this may be a good sign for the crypto market in the long term, Thakral added.
Bitcoin rose 0.09% and held near the $17,200 mark, whereas Ethereum was comfortable above $1,300 levels.
Other top crypto tokens were trading lower on Tuesday. Cardano fell 4.07%. Shiba Inu, Polygon, and Tron were also trading lower. However, Dogecoin fell around 1.5%.
The global cryptocurrency m-cap was trading lower around $850.17 billion, increasing 0.04% in the last 24 hours.
The total volume in DeFi is currently $3.33 billion, 8.03% of the total crypto market 24 hour volume. The volume of all stablecoins is now $38.03 billion, 91.83% of the total crypto market 24-hour volume.
The price of Bitcoin, the world’s largest cryptocurrency, hovered around $331.86 billion, with a dominance of about 39.02%, a decrease of 0.03% over the day, according to CoinMarketCap.
“Bitcoin reached a three-week high, rising above the $17,200 level, and Ethereum also saw an increase, reaching above the $1,300 level. This marked the highest point for both cryptocurrencies since mid-December. If the positive trend continues, the next resistance level for Bitcoin would be at $17,400, with a support at $17,050, while the next resistance level for Ethereum would be at $1,400, with a support level at $1,300,” Edul Patel, CEO and Co-Founder of Mudrex, said.
Crypto Cart: Quick
coinmarketcap.com, data as of 11.56 hours, IST on January 10, 2023)
Bitcoin $17,224.68 0.05%
Ethereum $1,325.50 1.32%
Tether $0.9997 -0.01%
USD Coin $0.9999 -0.01%
BNB $274.44 -1.43%
XRP $0.3487 -0.87%
Dogecoin 0.07597 1.20%
Cardano $0.316 -3.47%
Polygon $0.8487 -0.84%
Polkadot $4.90 -0.28%
Tron $0.05082 -7.14%
Litecoin $81.33 -0.71%
Shiba Inu $0.000008708 -0.99%
Solana $16.17 0.27%
(Note: Price change in last 24 hours)
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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