Bitcoin Below $17,000, Ethereum Rises 1.1%
Most cryptocurrencies rose on Friday. The global crypto market cap stood at $836.8 billion, with a volume of nearly $51.7 billion in the past 24 hours.
| The world’s largest and most popular virtual currency, Bitcoin, rises 1.2 percent to $16,779.1, holding ground below $17,000. Its market value stood at $322.9 billion. The trade volume was at $29.1 billion.
“Bitcoin traded sideways, oscillating above the $16,800 level, still trading near the two-year low price zone. BTC is likely to extend losses till the lower mark from where a significant recovery or bounce is possible,” said Edul Patel, CEO and Co-Founder of Mudrex.
Ethereum | The second largest virtual currency, Ethererum or Ether, was up at $1,216.1 at the last count, with a market capitalisation of $149.1 billion. The trade volume of Ethereum was almost $10 billion in the last 24 hours.
On Ethereum, Patel said, “Ethereum, reclaims its demand zone of $1,200 as the price bounces to a region of $1,250 despite the market turmoil. It could be solid support if ETH can establish above the $1,350 resistance. However, if the pressure continues, we might see a drop to the $1,100 zone by the end of the week.”
Dogecoin | Meme-based virtual currency, Dogecoin, rose 0.4 percent on Friday. Its market value stood at $11.4 billion. The trade volume was at $453.5 billion.
Solana | Solana fell 4.2 percent to $13.6 with a market capitalisation of $4.9 billion. The trade volume of Solana was $660.5 million in the last 24 hours.
Shiba Inu | Shiba Inu rose 0.6 percent with a market capitalisation of almost $5 billion. The trade volume was almost $115.4 million in the last 24 hours.
Polygon | Polygon rose 1.6 percent to $0.9 with a market capitalisation of $7.8 billion. The trade volume was $408.5 million in the last 24 hours.