Cryptocurrency prices are rising today as Bitcoin, ether, dogecoin rise; Polygon collects 18%

It is down about 60% so far this year as the Federal Reserve raises interest rates to fight inflation, struggles with risk assets and the crypto industry maintains high-profile explosions such as Terra / Luna and Three Arrows Capital. The largest token has been remotely tied to close to $ 20,000 for about a month.

“Bitcoin traded slightly higher on Wednesday, but the token price could not exceed the US $ 20,000 mark after the recent sale. Despite falling below the US $ 20,000 level, BTC returned the local support level of US $ 18,931. Bulls can hope for continued growth “However, it may take some time for BTC to make some sharp moves since it has not yet gathered enough strength,” said Edul Patel, CEO and co-founder of crypto-investment platform Mudrex.

The global market value of cryptocurrency today was below $ 1 trillion, although it was up more than 3% in the last 24 hours to $ 939 billion, according to CoinGecko.

On the other hand, Ether, the coin associated with the ethereum blockchain and the second largest cryptocurrency, rose more than 6% to $ 1,115. Meanwhile, the dogecoin price today traded almost 2% higher at $ 0.06, while Shiba Inu jumped 4% to $ 0.000010.

The performance of other cryptocurrencies today also improved as XRP, Solana, BNB, Litecoin, Stellar, Chainlink, Tron, Apecoin, Avalanche, Polkadot, Polygon (up as much as 18%), Uniswap, Tether prices traded higher recently 24 hours.

Crypto lender Celsius Network filed for Chapter 11 bankruptcy, a month after it froze customer withdrawals and joined other victims who were hit by a route in digital assets.

Cryptocurrency platforms have come under increasing pressure as the Federal Reserve aggressively raises interest rates, damages risk sentiment and pushes up financing costs. Crypto broker Voyager Digital Ltd. applied for Chapter 11 bankruptcy protection earlier this month, while liquidators have been called in for the bankrupt crypto hedge fund Three Arrows Capital.

(With input from agencies)

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