Cryptocurrencies Prices Updates: Today, the price of Bitcoin, the biggest and most well-known cryptocurrency in the world, was nearly 2 percent higher at USD 19,548. Even though it had increased by more than 1 percent in the previous day to USD 979 billion, the global crypto market valuation today nevertheless fell short of the USD 1 trillion threshold, according to CoinGecko.
However, Ether, the second-largest cryptocurrency and coin connected to the Ethereum network, increased more than 2 percent to USD 1,321. Dogecoin's price today increased little to USD 0.06, and Shiba Inu's price increased marginally to USD 0.000011.
"Bitcoin started the week on a strong trend on Monday, trading in the green in line with equities. As the new fourth quarter began, market players increased their willingness to take risks. BTC increased by a respectable percentage, but it still traded far behind its all-time highs. If BTC can maintain its daily advances, it may soon hit USUSD 20,000. According to Edul Patel, CEO and Co-Founder of Mudrex, "the volatility in the cryptocurrency market has intensified in recent weeks as market players reacted to the rising inflation and swings in the U.S. dollar by keeping away from riskier assets. Avalanche, Binance USD, Polkadot, Cardano, Chainlink, Tether, ApeCoin, Solana, Litecoin, XRP, Stellar, Terra, Tron, and Polygon prices were trading with increases over the last 24 hours, whilst Terra Luna Classic and Stellar declined. Other cryptocurrency values today also performed well.
As central banks throughout the world raised interest rates to tame growing inflation, the value of the global markets fell over the past few months. As fears of a recession increase, risky assets like cryptocurrency have been particularly severely hit.
The third quarter saw a slowdown in the money leaving crypto-related funds, suggesting that many negative investors may have already pulled out of the volatile asset class. According to data gathered by Bloomberg Intelligence, investors withdrew USD 17.6 million from cryptocurrency exchange-traded funds in the three months ended September 30.
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