Thursday, December 1, 2022
HomeAltcoinsToday's price report: Bitcoin hits $20,400, Ethereum rises by 4% and Dogecoin...

Today’s price report: Bitcoin hits $20,400, Ethereum rises by 4% and Dogecoin slides by 0.37%

In the past 24 hours, cryptocurrency prices have largely increased while regaining a little bit as financial markets around the world analyzed the US Federal Reserve’s harsh rhetoric on managing inflation, which is thought to be hurting American firms and people.

The most valuable cryptocurrency by market cap, Bitcoin, increased 0.90% to $20,400.14 on the previous day but was down 3.94% over the previous week.

Ethereum gained 4.34% to $1,606.04, lowering its seven-day fall to 0.55%. BNB rose by 0.70% to $288.73. In the past six sessions, this cryptocurrency had a 2.7% dip. In the previous 24 hours, Solana gained 0.85 %, Cardano gained 2.85%, and XRP increased by 0.75 percent.

Dogecoin had a 0.37% decline, losing more than 6% over the past seven days. Shiba Inu, Polygon, and Polkadot all had 2% increases. The market cap of all cryptocurrencies was at $992.83 billion, up 1.25 percent compared to the previous day. The overall trade volume rose by 15.36% to $74.70 billion.

According to Sathvik Vishwanath, co-founder and CEO of Unocoin, the majority of currencies and tokens have been trading in the green for the most of the past two weeks, however bitcoin saw a price decline up to 30%.

He said that Tuesday was a bad day for cryptocurrencies, with 95% of the market trading in the red, and that dips are already surpassing gain.

“This huge turn-around was unexpected. Based on the past patterns, it is rare to get a turn around during the rest of the week when the bear market starts mid week,” he said.

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