Today, cryptocurrency prices rose, with Bitcoin hovering around the USD20,000 mark. The world's largest and most popular cryptocurrency rose more than 5% to USD19,885. According to CoinGecko, the global cryptocurrency market cap is currently less than USD1 trillion, but it has increased by about 6% in the last 24 hours to USD914 billion.
Ether, the second-largest cryptocurrency and the coin linked to the Ethereum blockchain, rose more than 11% to USD1,068. Meanwhile, dogecoin was trading more than 11 percent higher today at USD0.05, while Shiba Inu was up about 6 percent to USD0.000008.
Stellar, Uniswap, XRP, Tether, Solana, Polkadot, Avalanche, Polygon, Chainlink, Terra Luna Classic, Cardano, Litecoin, and Tron prices have also improved in the last 24 hours, with cuts ranging from 4 to 14 percent.
Bitcoin struggled to stay above the closely watched USD20,000 level, extending a period of significant volatility that saw huge weekend swings as investor sentiment remains highly fragile as the Federal Reserve goes full-throttle to fight inflation with interest-rate hikes that drain liquidity from markets.
Bitcoin is down about 57 percent since the beginning of the year, Ether is down 70 percent, and many other tokens are down even more. Digital assets, like other risky assets, have been falling in value this year as global central banks have raised interest rates to combat rising inflation.
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