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Cryptocurrency rates today: The Cryptocurrency The market rose after a weaker-than-expected inflation report, with Ethereum drive a pack. All major cryptocurrencies were trading in green as the global cryptocurrency market cap rose 6.62 percent to $1.16 trillion from the previous day. The total crypto market size increased by 29.58 percent to $89.81 billion in the past 24 hours.
Mudrex Co-Founder and CEO Edul Patel said: “We have seen an increase in the trading volumes and overall market capitalization of cryptocurrencies. This rally can be attributed to the largest altcoin, Ether, which has crossed the $1800 level. Bitcoin appears to be hovering around the 24,000 mark. Dollars which restore investor confidence. The increased trading volumes over the past two days show that market participants are finally back in the cryptocurrency market.”
Bitcoin, the largest cryptocurrency by market capitalization, surged 6.06 percent to $24,260 in the past 24 hours, bringing its seven-day gain to 4.86 percent.
Ethereum stock jumped 11.88 percent to $1,874.50. This cryptocurrency has jumped 13.5 percent in the past seven sessions. BNB stock rose 4.88 percent to $330.69.
Manoj Dalmia, founder and director of Proassetz Exchange, said: “After a sharp bearish move, Ethereum retreated after the bullish breakout from the accumulation area, which was formed between the range of $1280-$1,000. The strong support level of $1000 and $1350 supported the current upward move. If it jumps Ethereum is above $2250 with volume breaking its next resistance, another bullish move towards $2600 is possible.”
Cardano and XRP added 6.6 percent and 5 percent, respectively. Polkadot rose 10.32 percent to $9.49. Solana advances 8.69 percent to $42.76.
In other news, more than seven percent of India’s population owns a digital currency, according to the United Nations, which said that the use of cryptocurrency globally has risen at an unprecedented rate during the COVID-19 pandemic, according to PTI. The United Nations trade and development body, UNCTAD, said that in 2021, developing countries accounted for 15 of the top 20 economies when it came to the share of the population owning cryptocurrencies.
Here are the top 10 cryptocurrencies and their prices on August 11, 2022, Wednesday, (according to data from coinmarketcap.com)
Bitcoin $2,4461.77 or 6.01% gain in the last 24 hours
Ethereum $1,883.48 or 10.92 percent gain in the last 24 hours
Earn $1.00 or 0.02 percent in the last 24 hours
USD Coin – $0.9999 gain or 0.02 percent in the last 24 hours
$329.60 BNB or 3.04 percent loss over the past 24 hours
XRP $0.3807, or 4.83 percent loss over the past 24 hours
Binance USD gains $1 or 0.05 percent in the past 24 hours
Cardano $0.5177 or 1.33 percent gain in the last 24 hours
Solana $44.03, or a 10.70 percent loss in the past 24 hours
Polkadot $8.70 or 2.08 percent loss over the past 24 hours
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