Cryptocurrency prices Updates: The price of the biggest and most well-known cryptocurrency in the world, Bitcoin, was trading nearly unchanged at USD 19,407 in early trade today.
Today's global crypto market valuation was USD 985 billion, flat over the previous 24 hours, according to CoinGecko, staying below the USD 1 trillion threshold.
The second-largest cryptocurrency, Ether, which is connected to the Ethereum network, fell by about 1 percent to USD 1,327. Shiba Inu's price today decreased slightly to USD 0.000011 while Dogecoin's price marginally increased to USD 0.06.
"There are currently no indications that Ethereum is consolidating. Since the start of this month, ETH trading has been at its lowest point. The market has become more volatile recently, and players have responded to growing inflation and changes in the value of the US dollar "said Edul Patel, co-founder and CEO of Mudrex, a global platform for investing in cryptocurrencies.
The volatility in the market has increased in recent weeks, and market participants reacted to the rising inflation and fluctuations in the U.S. dollar, but Ethereum has not yet shown any signs of consolidation. ETH has been trading at its lowest level since the beginning of this month "said Edul Patel, co-founder and CEO of Mudrex, a global platform for investing in cryptocurrencies.