Bitcoin above $23,800; Ether gains Solana, Polkadot in red



Cryptocurrency rate today: The cryptocurrency market has been rallying for the past four days amid hopeful signs that inflation will soon be brought under control without causing a severe recession. The Cryptocurrency On Tuesday, August 9, the market continued its upward trajectory. Bitcoin It briefly crossed the $24,000 mark, supporting the notion that investors have risk appetite for the riskiest asset class. The global cryptocurrency market capitalization is up 1.77 percent to $1.12 trillion as of 8.50 am. Global crypto volume rose 71.22 percent to $70.6 billion, according to Coinmarketcap data.

Charles Tan, Chief Marketing Officer at Atato, said: “The total market capitalization of cryptocurrencies increased by 2 per cent to $1.13 trillion. The volume of the cryptocurrency market rose in turn which clearly shows an influx of funds that may be attributable to individual and institutional investors gaining confidence. Based on the data of the past two months, it appears that the cryptocurrency market has found some form of support at the current levels. After the Terra Luna crash and its aftermath, the market has entered a more stable and mature phase, and investors who bought at lower levels are finding positive results to hold their positions.”

All crypto tokens traded with good gains on Tuesday. Bitcoin, the world’s largest and most popular cryptocurrency, was trading nearly 0.04 percent higher at $23834.03. On the other hand, Ether, the currency linked to the Ethereum blockchain and the second largest cryptocurrency, rose more than 2 percent to $1,773.78.

“There is increased confidence that can be attributed to the upcoming Ethereum consolidation. We may be able to see more institutional buying after a long hiatus for many institutions which we hope will continue to be market positivity in the coming weeks,” Tan stated.

Meanwhile, the Dogecoin price today is trading more than 2 percent higher at $0.06. Only BNB, Avalanche, and Shiba Inu dropped slightly.

In other news, global crypto exchange Binance said it will remove off-chain fund transfers with WazirX, three days after the Enforcement Administration (ED) raised concerns about such transactions. The ED said it had recently conducted searches on one of the managers of Zanmai Labs and issued a freezing order to his bank accounts, which contain Rs 64.67 crore. Nischal Shetty, co-founder of WazirX, dismissed a number of allegations made by Binance CEO Changpeng Zhao via Twitter.

Here are the top 10 cryptocurrencies and their prices on August 5, 2022, Friday, (according to data from coinmarketcap.com)

Bitcoin $23,834.03 or 0.14% gain in the past 24 hours

Ethereum $1,773.78 or 2.44 percent in the last 24 hours

Tie a gain of $1.00 or 0.00 percent in the last 24 hours

USD Coins $0.9998, or 0.01 percent gain in the past 24 hours

BNB $323.96 or a loss of 0.94 percent in the last 24 hours

XRP $0.3768 or 0.41% loss in the last 24 hours

Binance $0.9999 or 0.01 percent loss in the past 24 hours

Cardano $0.5177 or 1.33 percent gain in the last 24 hours

Solana $42.50 or 0.64 percent loss in the last 24 hours

Polkadot $9.08 or 0.85 percent loss in the last 24 hours

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