Cryptocurrencies extended gains on Friday, with Bitcoin maintaining ground above $19,000. The global crypto market cap stood at almost $948.2 billion, with a volume of $68.7 billion in the past 24 hours.
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| The world's largest and most popular virtual currency, Bitcoin, rose to 0.2 percent to $19,505.2. Its market value stood at $374.2 billion. The trade volume was at $57.6 billion. The token has gained 2.6 percent in the last seven days.
"Bitcoin showed signs of recovery on Thursday by trading higher after a broad sell-off. The volatility in BTC has increased in recent weeks, and market participants reacted to the rising inflation and fluctuations in the US dollar. If BTC can break above its resistance at $20,433, we might see an upward trend. And with large inflows into the market, we might see BTC rally towards $25,000," said Edul Patel, CEO and co-founder of Mudrex.
Ethereum | The second largest virtual currency, Ethererum or Ether, was 0.3 percent up at $1,340.7 with a market capitalisation of $164.4 billion. The trade volume of Ethereum was almost $13.4 billion in the last 24 hours.
On Ethereum, Patel said, "Ethereum, has not yet shown any signs of consolidation. ETH has been trading at its lowest level since the beginning of this month. If ETH can hold above the $1,400 level today, we might see an upward trend soon."
Dogecoin | Meme-based virtual currency, Dogecoin, rose 0.5 percent to $0.1. Its market value stood at $8.1 billion. The trade volume was at $226.2 billion.
Solana | Solana rose 2.2 percent to $34.4 with a market capitalisation of $12.3 billion. The trade volume of Solana was $996.9 million in the last 24 hours.
Shiba Inu | Shiba Inu rose 1.1 percent with a market capitalisation of $6.2 billion. The trade volume was $183.6 million in the last 24 hours.
Polygon | Polygon jumped 3.7 percent to $0.8 with a market capitalisation of $6.8 billion. The trade volume was $335.2 million in the last 24 hours.