Current Date: 29 Mar, 2024

Bitcoin and Ether prices are up today, while Dogecoin and Shiba Inus are down.

The market capitalization of all cryptocurrencies is $828 billion, unchanged from the previous day. In cryptocurrencies terms, the Bitcoin price increased today, trading almost flat with a positive bias at $16,566. 

Bitcoin and ether prices are up today, while Dogecoin and Shiba Inus are down

This digital token is the biggest and most well-known in the world. However, according to data from CoinGecko, the total market value of all cryptocurrencies today remained below the $1 trillion threshold after remaining unchanged over the previous 24 hours at $828 billion.

On the other hand, Ether, the second-largest cryptocurrency and coin connected to the Ethereum blockchain, was trading slightly higher at $1,195.Shiba Inu gained was down at $0.000008, while Dogecoin's price was trading about 1% lower at $0.06 today.

Today's performance of other cryptocurrency prices was uneven; Tether, Stellar, XRP, Cardano, Litecoin, Polkadot, Uniswap, Solana, ApeCoin, and Chainlink prices saw increases over the previous day, while XRP, Solana, Avalance, Polygon, and Tron prices saw decreases.

Read also: Binance Suspends BNB Chain After Millions Of Dollar In New Coins Was Created By Hacker

Digital assets were severely impacted by everything from the Federal Reserve's tightening of policy to the implosions of the Terra/Luna ecosystem, hedge funds Three Arrows Capital, and exchangeFTXlast year.

This resulted in major central banks worldwide raising interest rates to combat historical inflation. In addition, the high-profile collapses of Terra/Luna and FTX sent shockwaves through the industry. 

They liquidated more than $2 trillion from the total crypto market cap all-time high in November 2021. As a result, 2022 was dubbed the winter season for cryptocurrencies.

The year 2022 saw more than a 60% loss for Bitcoin, which is only the third time it has ever experienced a loss. Ether lost close to 70%, and an index of the top 100 coins dropped by about 65%, along with other cryptocurrencies.

The enterprise software company and well-known largest corporate bitcoin buyer, MicroStrategy Inc., announced several transactions, including its first-ever sale of the cryptocurrency, last week. However, it still has a net buying position.

According to Bloomberg, MicroStrategy held approximately 132,500 Bitcoin totaling more than $4 billion as of December 27, 2022.

Excellence Chukwuma Chukwunaedu

Excellence Chukwuma Chukwunaedu

I enjoy marketing, technology and business. I help businesses and brands connect with their ideal customer profiles and build products that excite them and solve their problems.