Synopsis
“Bitcoin is inching closer towards the $26,000 mark. Following the Arbitrum Airdrop announcement that came out yesterday evening, the sentiments across the crypto market took a positive turn. It is one of the biggest and most awaited events since the past several months,” Edul Patel, Co-founder and CEO at Mudrex, said.
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Explore NowNew Delhi: The cryptocurrency markets were trading higher in Friday’s trade with crypto heavyweights like BTC and ETH leading the rally. Bitcoin (BTC) rose 5.45% to $25,906, whereas Ethereum (ETH) was above the $1,700 level.
“Bitcoin is inching closer towards the $26,000 mark. Following the Arbitrum Airdrop announcement that came out yesterday evening, the sentiments across the crypto market took a positive turn. It is one of the biggest and most awaited events since the past several months,” Edul Patel, Co-founder and CEO at Mudrex, said.
Other top crypto tokens were also trading higher. BNB and Polygon surged over 4%. Dogecoin, Solana and Shiba Inu were also trading with gains. Meanwhile, the global cryptocurrency market cap was trading higher around $1.11 trillion, rising 3.85% in the last 24 hours.
The total volume in DeFi is currently 5.31 billion, 7.97% of the total crypto market 24-hour volume. The volume of all stablecoins stood at $63.35 billion, which is 94.99% of the total crypto market 24-hour volume.
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View Details »BTC volume in the last 24 hours stood at approximately $10.73 billion, falling 10.73% in the last 24 hours.
The market cap of Bitcoin, the world’s largest cryptocurrency, was around $499.16 billion. Bitcoin’s dominance is currently 44.84%, an increase of 0.63% over the day, according to CoinMarketCap.
Sathvik Vishwanath, Co-Founder & CEO of Unocoin said, “Bitcoin price remains volatile, with a potential support level of $22,500 and the possibility of reaching $31,000 if it manages to break the resistance level at $26,200.”
Rajagopal Menon, Vice President at WazirX said, “Major market oscillators point to a neutral sentiment. The Relative Strength Index (14) sits at 66.50, with a neutral outlook. The Stochastic %K (14, 3, 3) and the Average Directional Index (14) indicate a Neutral outlook as well at 78.49 and 26.46, respectively.”
“The MACD Level (12, 26), at 433.51, indicates a Buy. The Stochastic RSI Fast (3, 3, 14, 14) and the Williams Percent Range (14) continue to be Neutral at 97.16 and −12.21, respectively,” Menon added.
Crypto Cart: Quick Glance (Source: coinmarketcap.com, data as of 11.39 hours, IST on March 17, 2023)
Bitcoin $25,906 5.45%
Ethereum $1,708 3.17%
Tether $1 -0.07%
BNB $331.11 5.54%
XRP $0.3688 0.63%
Cardano $0.3312 1.58%
Polygon $1.17 3.84%
Dogecoin $0.07347 4.13%
Solana $20.03 3.00%
Polkadot $6.20 3.57%
Tron $0.0663 0.67%
Shiba Inu $0.00001067 2.23%
Litecoin $81.33 2.93%
(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)
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