homephotos Newscryptocurrency NewsBitcoin above $17,000, Ethereum up 6% as crypto market recovers

Bitcoin above $17,000, Ethereum up 6% as crypto market recovers

2 Min(s) Read

By Asmita Pant  Nov 11, 2022 11:18:05 AM IST (Published)

SUMMARY

Most cryptocurrencies reversed some losses incurred in the previous session on Friday as market recovers after the confidence returned over the macroeconomic outlook and FTX partially started to open withdrawals to users. The global crypto market cap stood at $862.5 billion, with a volume of $139 billion in the past 24 hours.

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Bitcoin | The world's largest and most popular virtual currency, Bitcoin, rose three percent to $17,224. Its market value stood at $327.1 billion. The trade volume was at $76.3 billion.

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"The price of BTC has gained by six percent, currently trading above the $17,000 level. If BTC falls below the current level, the next major support would be in the $16,500 range," said Edul Patel, CEO and co-founder of Mudrex.

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Ethereum | The second largest virtual currency, Ethererum or Ether, jumped 6.2 percent to $1,249.1 with a market capitalisation of $150.8 billion. The trade volume of Ethereum was $26.5 billion in the last 24 hours.

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On Ethereum, Patel said, "The second largest cryptocurrency, Ethereum, has also gained by nine percent recovering above the $1,250 level as investors await the next price movement."

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Dogecoin | Meme-based virtual currency, Dogecoin, climbed 4.6 percent on Friday. Its market value stood at $11.3 billion. The trade volume was at $2.3 billion.

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Solana | Solana surged 13 percent to $17.2 with a market capitalisation of $6.1 billion. The trade volume of Solana was $3.8 million in the last 24 hours.

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Shiba Inu | Shiba Inu rose 4.3 percent with a market capitalisation of $5.6 billion. The trade volume was $467.7 million in the last 24 hours.

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Polygon | Polygon plunged 12.8 percent to $1.1 with a market capitalisation of $9.2 billion. The trade volume was $2.2 billion in the last 24 hours.

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