Synopsis
The total volume in DeFi is currently $3.89 billion, 6.87% of the total crypto market 24-hour volume. The volume of all stablecoins is now $51.71 billion, which is 91.28% of the total crypto market 24-hour volume.
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Explore NowNew Delhi: The cryptocurrency market traded higher on Friday after US Consumer Price Index (CPI) data showed signs of cooling off inflation. Bitcoin gained 3.9% to trade above $18,800 level, whereas Ethereum rose nearly 1% to trade at $1409.
“The crypto market’s current momentum got a big boost after US Consumer Price Index (CPI) data showed signs of inflation cooling down. Bitcoin saw the biggest jump in 2 months after it breached the $19,000 mark for a short period. Bitcoin already broke major resistances of $17,000 and $18,000 and it is expected to test $20,000 in the coming days. If the macroeconomic factors continue to remain favourable, we can expect the momentum to sustain in the coming weeks,” Shivam Thakral, CEO of BuyUcoin said.
BTC volume in the last 24 hours stood at approximately $31 billion, which is a jump of 32.37% in the last 24 hours.
Other top crypto tokens were also trading higher on Friday. Solana rose 4.1%. Polygon, Dogecoin, Polkadot and Tron were also trading with gains.
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View Details »The global cryptocurrency market cap was trading higher around $904.04 billion, increasing 2.1% in the last 24 hours.
The total volume in DeFi is currently $3.89 billion, 6.87% of the total crypto market 24-hour volume. The volume of all stablecoins is now $51.71 billion, which is 91.28% of the total crypto market 24-hour volume.
The price of Bitcoin, the world’s largest cryptocurrency, hovered around $362.8 billion, with a dominance of about 40.07%, an increase of 0.63% over the day, according to CoinMarketCap.
“The total market cap of cryptos has risen over 3% in the past 24 hours. This increase is driven primarily by a small number of select coins, such as ETH. This is evident from the market breadth indicator, which assesses the number of significant cryptocurrencies trading above the 200-day simple moving average (SMA). Cryptos, including ETH, E, ATOM, BNB, DOGE, LDO, etc., were above the 200-day SMA,” Edul Patel, CEO and Co-Founder of Mudrex said.
Meanwhile, Parth Chaturvedi, Crypto Ecosystem Lead, CoinSwitch stated that several crypto-specific risks remain lurking, with the biggest ones surrounding the financial health of the industry cornerstones.
Crypto Cart: Quick Glance (Source: coinmarketcap.com, data as of 12.35 hours, IST on January 13, 2023)
Bitcoin $18,857.19 3.9%
Ethereum $1,411 0.85%
Tether $1 0.01%
USD Coin $1 0.01%
BNB $289.12 1.47%
XRP $0.3765 1.09%
Dogecoin 0.08051 1.81%
Cardano $0.3291 1.34%
Polygon $0.9128 2.91%
Polkadot $5.25 2.71%
Tron $0.05653 2.81%
Litecoin $84.82 1.06%
Shiba Inu $0.000009498 2.94%
Solana $17 4.43%
(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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