Cryptocurrency markets witnessed a surge on Wednesday as Bitcoin surged 8% to reach $28,840 and Ethereum rose to above $1,800. The total trading volume reached $43.95 billion, a 59% increase from the day before. The market cap of Bitcoin, the largest cryptocurrency, reached approximately $559 billion, while the global cryptocurrency market cap was about $1.13 trillion. Other major tokens including Cardano, Litecoin, Polygon, Solana, and Polkadot also traded with gains. According to experts, Bitcoin’s support currently lies at $28,450 and resistance is at $29,000 and $30,000.
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Explore NowThe cryptocurrency markets were majorly trading higher on Wednesday. Bitcoin (BTC) surged 8% to $28,840, whereas Ethereum (ETH) was above the $1,800 level.
“The crypto market has seen a remarkable surge in trading activity over the past 24 hours, with a total volume of $43.95 billion, representing an impressive 59% increase. Bitcoin has crossed the $28,000 mark due to growing interest from institutions,” Shivam Thakral, CEO of BuyUcoin, said.
Other top crypto tokens were also trading higher on Wednesday. Cardano and Litecoin rose up to 9%. Meanwhile, Polygon, Solana, and Polkadot also traded with gains. The global cryptocurrency market cap was trading higher around $1.13 trillion, rising 6% in the last 24 hours.
The market cap of Bitcoin, the world’s largest cryptocurrency, was around $559 billion. Bitcoin’s dominance is currently 49%, an increase of 0.83% over the day, according to CoinMarketCap. BTC volume stood at approximately $25.85 billion, rising 75% in the last 24 hours.
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View Details »“BTC, up 6.9% from yesterday, pushed its $28,000 resistance level and is currently trading above it; new resistance level at $30,000. BTC’s price movement comes at the backdrop of its dominance crossing 50% for the first time in the last two years,” Parth Chaturvedi, Investments Lead at CoinSwitch Ventures, said.
Edul Patel, Co-founder and CEO at Mudrex said, “BTC’s support now lies at the US$28,450 level while the resistance is at the US$29,000 and then US$30,000.”
Crypto Cart: Quick Glance (Source: coinmarketcap.com, data as of 12.26 hours, IST on June 21, 2023)
Bitcoin $28,840 7.64%
Ethereum $1,812 4.84%
Tether $0.9998 -0.02%
BNB $249 3.49%
XRP $0.4955 2.16%
Cardano $0.2786 7.70%
Dogecoin $0.06402 3.08%
Polygon $0.6495 6.78%
Solana $16.77 4.95%
Litecoin $84.06 9.14%
Polkadot $4.70 4.88%
Tron $0.0714 3.15%
Shiba Inu $0.000007413 3.33%
(Note: Price change in last 24 hours)
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)