Cryptocurrencies Price Updates: The price of Bitcoin rose today, reaching a new high of USD 16,607, the largest and most well-known digital token in the world.
According to data from CoinGecko, the total market value of all cryptocurrencies today stayed below the USD 1 trillion threshold after remaining unchanged over the previous 24 hours at USD 828 billion.
The second-largest cryptocurrency, Ether, which is connected to the Ethereum network, was up about 1% at USD 1,198. Shiba Inu increased by more than 2% to USD 0.000008 while Dogecoin traded at USD 0.07 today.
Avalanche, Chainlink, Polygon, and Tron were trading with losses today, while Tether, Stellar, XRP, Cardano, Litecoin, Polkadot, Uniswap, and ApeCoin prices were trading with gains over the last 24 hours.
Although it disclosed a number of transactions, including its first-ever sale of the token, MicroStrategy Inc., the business software company better known in recent years as the largest corporate buyer of Bitcoin, nonetheless remains a net buyer. Over the preceding years, MicroStrategy had established a solid reputation for buying Bitcoin. Approximately 132,500 Bitcoin totaling more than USD 4 billion were held by MicroStrategy as of December 27, 2022,
This year, as the Federal Reserve and other major central banks around the world increased interest rates to combat historic inflation, digital assets have endured severe losses due to a variety of factors, including the Fed's tightening of policy as well as the collapses of the Terra/Luna ecosystem, hedge funds Three Arrows Capital, and exchange FTX.
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