Cryptocurrency prices today rose with the world’s largest and most popular digital token Bitcoin’s price today was trading more than a per cent higher at $16,425. On the other hand, Ether, the coin linked to the ethereum blockchain and the second largest cryptocurrency, also rose by more than 2% to $1,197.
“The broader crypto market reversed on Monday as most cryptos gained decent amounts in the past 24 hours. Bitcoin is currently trading above the $16,200 level. Buyers will have to hold the gained initiative to reserve the trend. If the price breaks above the downtrend line, BTC might soon rally to the overhead resistance at $17,622. The second largest cryptocurrency, Ethereum, gained by 1.27% in the past 24 hours. Buyers should continue to defend to see ETH rise above the $1,300 level,” said Edul Patel, CEO and Co-founder of global crypto investment platform Mudrex.
The global cryptocurrency market cap today remained below the $1 trillion mark, even as it was up in the last 24 hours to $864 billion, as per the data by CoinGecko.
Meanwhile, dogecoin price today was trading more than 9% higher at $0.10 whereas Shiba Inu was up over 2% at $0.000009. Other crypto prices’ today performance also improved as Binance USD, Avalanche, Tether, Terra, Stellar, Polkadot, Solana, Uniswap, ApeCoin, Tron, Polygon, XRP, Cardano, Chainlink, Litecoin prices were trading with gains over the last 24 hours.
Cryptocurrency lender BlockFi has filed for Chapter 11 bankruptcy protection, it said on Monday, the latest industry casualty after the firm was hurt by exposure to the spectacular collapse of the FTX exchange earlier this month.
In the bankruptcy filing, it said that its substantial exposure to FTX created a liquidity crisis. FTX, founded by Sam Bankman-Fried, filed for protection in the United States this month after traders pulled $6 billion from the platform in three days and rival exchange Binance abandoned a rescue deal.
BlockFi’s bankruptcy filing also comes after two of BlockFi’s largest competitors, Celsius Network and Voyager Digital, filed for bankruptcy in July, citing extreme market conditions that had led to losses at both companies.
(With inputs from agencies)
The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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