The cryptocurrency market saw a mixed return today, following up on the improvement that kicked in after the crash. While the global economy is still stuck in a slump, a soft increase in the prices has assured investors some relief. But these are small gains and the leading digital coins are still reeling from the crash. The global cryptocurrency market cap today settled at $995 billion, representing a 1.1 percent drop in the last 24 hours. Also Read - Crypto prices today: Bitcoin, Ethereum rally up to 9 percent as market rebounds
Bitcoin Price Today
Bitcoin witnessed a drop of 0.4 percent in the last 24 hours, after registering a 3.5 percent growth in the past week. The total volume in the last 24 hours was reported to be $16.38 billion, representing a dominance of 40.7 percent in the global market. The trading price of Bitcoin at the time of writing was $21,372. Also Read - Crypto prices today: Bitcoin slides below $20,000 as market remains flat
Ethereum Price Today
For Ethereum, the trading was more or less the same. The second-largest cryptocurrency dropped by over 1 percent in the last 24 hours. However, Ethereum rallied as much as 8.2 percent in the last seven days, showing better signs of improvement than Bitcoin. The market cap of Ethereum in the past 24 hours was $12.43 billion, while its trading price at the time of writing was $1,232. Also Read - Cryptocurrencies are clear danger to financial systems, says RBI Governor Shaktikanta Das
Dogecoin, Shiba Inu Price Today
Dogecoin, which forms a small part of the global cryptocurrency market, zoomed 11 per cent, while Tron also gained 4 percent in the last 24 hours. Shiba Inu coin saw an increase of over 40 percent in the last seven days, but the past 24 hours were challenging. SHIB dropped by 1.8 percent, settling down at a trading price of $0.00001167.
The crisis in the global cryptocurrency market piggybacked on the Federal Reserve’s announcement about an increase in interest. That sent the market into a frenzy, which investors are still reeling from. However, there is a chance that Federal Reserve will tone down its monetary hawkishness sometime later this year. Investors are clinging to the hope that the market will better, if not get back on track.