Bitcoin Increases Over $22,000, Polkadot, Solana Gain Up To 8% In One Day
Cryptocurrency price today: The cryptocurrency market on Tuesday extended gains on Monday, with most cryptocurrencies including Bitcoin, Solana and Polygon seeing a rally amid the overall market volatility. Bitcoin on Tuesday crossed $22,000, while Ethereum traded in the red ahead of its software update, The Merge, scheduled for September 15.
Data from CoinMarketCap showed that the global cryptocurrency market has remained largely flat and is down 0.17 percent to $1.07 trillion at the time of writing. While Ether is trading in the red, Solana’s price is up more than 8 percent, while Polygon is up 5 percent on the day.
Today’s Bitcoin price jumped 0.12 percent to exceed $22,000. Data from CoinMarketCap showed that at the time of writing this article, the price of Bitcoin was standing at $22,212.18.
“Bitcoin surged above $22,000 as buying power increased late on Monday afternoon. If BTC can hold above the current level, the next immediate resistance for BTC could be at $24.00,” said Edul Patel, CEO and Founder. Mudrex participant, “Overall, BTC has a positive outlook as it has outperformed Ethereum.”
On the other hand, Ether was trading in the red before the merger, as investors eagerly awaited the results. The price of Ethereum today at the time of writing this article is $1710.51, down 2.55 percent in the last 24 hours.
As part of the merger, the Ethereum network will transition from miner-dominated Proof of Work to a more efficient Proof of Stake model.
“In contrast, Ethereum was trading at $1,690. It suffered a 2% drop as pre-merger uncertainty increased. If ETH can hold above $1,689, it will bounce back to the $1,700 mark. But if it fails to do so, one can expect a test of the critical support level at $1,650, Patel added.
“Ethereum blockchain miners will shift to other networks which will increase mining activity on those networks. This shift will have an impact on other crypto assets and we can expect significant price movement across crypto assets after the merger. The Ethereum merger marks the beginning of energy-saving crypto operations that It will help drive mass adoption of crypto-related products and services. “We can expect similar initiatives in the future to provide a level playing field for the crypto industry around the world,” said Shivam Thakral, CEO of BuyUcoin.
Here are the top 10 cryptocurrencies and their prices on September 13, Tuesday (data from coinmarketcap.com at the time of this article)
Bitcoin $22,212.18 or 0.12% gain over the past 24 hours
Ethereum $1,710.51 or 2.55 percent loss in the last 24 hours
Tie a gain of $1.00 or 0.00 percent in the last 24 hours
USD Coin 0.9998 USD or 0.02 percent loss in the last 24 hours
BNB $293.20 or 1.35% loss in the last 24 hours
Binance $0.9999 or 0.01 percent loss in the past 24 hours
XRP 0.355 USD, or 0.25 percent loss in the last 24 hours
Cardano $0.5014 or 2.51 percent loss over the past 24 hours
Solana $38.27 or 6.64 percent gain in the last 24 hours
Polkadot $7.64 or 2.47 percent loss in the last 24 hours
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