Cryptocurrency prices Updates: Bitcoin, the biggest and most well-known cryptocurrency in the world, rose more than 5 percent in value early trade Thursday at USD 19,427. Even though it had increased by more than 2 percent in the previous day to USD 984 billion, the worldwide crypto market valuation today still fell short of USD 1 trillion, as perCoinGecko.
On the other hand, Ether, the second-largest cryptocurrency and coin connected to the Ethereum blockchain, increased by more than 5 percent to USD 1,338. Shiba Inu price increased by more than 3 percent to USD 0.000011 while Dogecoin price increased by about 4 percent to USD 0.06.
"After slipping down to the bottom of a strong trendline on Tuesday, Bitcoin recaptured the USD 19,000 level when conventional US markets opened. This month, the price of BTC has fluctuated just slightly between USD 18,600 and USD 19,500. We might witness a greater increase in the ensuing weeks of a new month if BTC closes above USD 19,500. Ethereum, on the other hand, bounced back off the USD 1,262 support level, demonstrating that the bulls are buying the dips while the bears are continuing to sell. "We might observe a good trend if bulls can push the price over the resistance level around USD 1,410," said Edul Patel, CEO and co-founder of Mudrex.
The performance of other cryptocurrency prices today also improved, with gains seen in the values of Solana, Polygon, Avalanche, Binance USD, Polkadot, Litecoin, Cardano, Chainlink, Tron, Tether, XRP, Stellar, ApeCoin, Terra, and Terra Luna Classic over the previous 24 hours.
On Wednesday, Robinhood Markets Inc. announced a partnership with cryptocurrency company Circle to give consumers the choice to purchase and trade the stablecoin USD Coin (USDC) on the brokerage's platform. According to the business, the arrival of USDC marks the first stablecoin to be featured on the app and extends the total number of assets that can be purchased and sold through Robinhood Crypto to 17.
The announcement of Robinhood's relationship with USDC coincides with a recent crypto bear market and the significant stablecoin collapses that attracted a lot of attention. Major stablecoin TerraUSD lost its 1:1 peg to the dollar and plunged as low as USD 0.67 in May, causing an industry-wide uproar that resulted in the bankruptcy filings of crypto lenders Celsius and Voyager as well as the mass layoffs of staff at Coinbase, BlockFi, and Crypto.com.
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