Bitcoin and Ethereum rally as market crosses $1 trillion cap


The cryptocurrency market rebounded positively over the past 24 hours, giving momentum to the global high which was trading above the $1 trillion mark after a long dry spell. All popular crypto tokens, such as Bitcoin and Ethereum, were in the green, jumping up to 8% in the past 24 hours. The total cryptocurrency trading volume in the last 24 hours was $81.3 billion. Experts believe that this rise will not be persistent, but the trend will gradually accelerate over the next few months. That means investors can breathe a sigh of relief, at least for now. Also Read – Government panel to propose battery certification and quality control standards to tackle electric vehicle fires

Bitcoin remained the top crypto token over the past 24 hours with a 41.6% dominance, while Ethereum traded with a 14.9% share, according to CoinGecko at the time of writing. The surge in trading volumes represents renewed interest from investors, but it could also be a sign that new holders are taking advantage of the current market situation. Also Read – Elon Musk’s $44 Billion Twitter Deal in Big Trouble: Report

bitcoin price today

Bitcoin has seen an 8% jump in the past 24 hours, bringing the 7-day count over 12% into the green. The most popular crypto token trades at over $22,000 at the time of writing, while the market cap hits $419.9 billion. Over the past few days, Bitcoin has shown mixed signals and remained mostly stable, but the surge is restoring investor confidence. Also Read – Swiggy Awards Rs 5,000 To Whoever Can Find The Famous Horse Delivery Man

Ethereum price today

Ethereum, the second most popular crypto coin, was also in the green. It was trading at over $1,255 at the time of writing, while the market capitalization reached $150.1 billion, according to CoinGecko. The 7-day count came in at 18.6%, which lifted the spirits of investors who have been wary lately.

Crypto market in India

The Indian crypto market is currently under enormous pressure. As the global macro situation continues to hit Indian crypto trading, the government’s recently implemented one percent TDS rule has caused a negative ripple. Since every crypto transaction is now taxed, traders are not so inclined. This resulted in a decrease in average trading volumes. But experts believe the prevailing market lull will soon be over.

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