Bitcoin and Ethereum soar and rises reach 40%; SOL, BNB, ADA, FTM and other tokens are up by up to 16%
Tuesday (19) started with the cryptocurrency market in a mixed way. By 9am, most of the tokens and coins had positive balances. However, Bitcoin, XRP and Cardano faced a slight bearish.
Some analysts point to instability as something normal for the economic period. Uncertainties about inflation and the prospect of further interest rate hikes make the future of cryptocurrencies very uncertain in the short term.
Bitcoin (BTC), the main cryptocurrency on the market, has fallen again after a new wave of bulls. Shortly after reaching $22,000 again, BTC recorded a drop of 0.8%, resulting from a dawn with high liquidations. According to CoinGecko, around 9 am today, the price of BTC was hovering around 22,058.95.
Ethereum (ETH), the largest cryptocurrency among DeFi trading and second by market cap, rose another 4.6%, completing a 40% rally for the week. The current price of ETH is 1,545.07.
The global cryptocurrency market cap was trading higher at the $1.02 trillion mark, up about 3% in the last 24 hours. Total cryptocurrency trading volume rose nearly 65% to $109.40 billion.
Price of top cryptocurrencies today
As cryptocurrency’s bullish wave appears to cool off, some altcoins and gaming tokens continue to register profits. Meanwhile, other coins such as Bitcoin have seen price stability and even market declines.
According to CoinGecko, BNB, the coin issued by Binance, has remained stable in price for the last 24 hours. The variation registered by the portal was only 0.1% and the current price of BNB is US$ 260.83.
Meanwhile, XRP and Cardano (ADA) have seen slight declines in price. At around 9am in the morning, both cryptocurrencies were down a slight 0.4%. The price of XRP was at $0.360197 and ADA was selling for $0.488624.
Solana (SOL), famous for its play-to-earn projects, rose another 9.5% in the last 24 hours. The current price of SOL is $45.46.
Among the biggest gains in the market are Fantom tokens (FTM), with 16.5% profit and NEAR Protocol, up 11%. The cryptocurrencies that recorded the biggest losses were Arweave, with a drop of 5.1% and Lido DAO, with -5.2%.
Ethereum overcomes vital resistance, may soon revisit $1500
Ethereum (ETH) recently hit the $1,500 mark. According to CoinGecko, ETH has seen an increase of more than 40% in its value in one week and the trend is towards higher.
With a consistent rise in price, Ethereum has left behind the $1280 resistance mark, which the coin previously struggled to overcome. Buying strength also returned to the market, which further helped ETH maintain its price action.
For ETH to solidify its bullish stance, it is important to keep its price above the $1,500 mark. With Bitcoin moving over $22,000 and ETH reaching $1,500, the market capitalization has also skyrocketed. The global cryptocurrency market cap today was $1.04 trillion after more than a month, with a positive change of 3% in the last 24 hours.