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Bitcoin above $17,000, Ethereum and other crypto tokens rise

Bitcoin above $17,000, Ethereum and other crypto tokens rise

Bitcoin above $17,000, Ethereum and other crypto tokens rise
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By Asmita Pant  Dec 5, 2022 9:18:22 AM IST (Updated)

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SUMMARY

Cryptocurrencies edged higher on Monday. The global crypto market cap stood at $865.5 billion, with a volume of nearly $32.2 billion in the past 24 hours.

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"With more clarity emerging on the extent of damage caused by FTX’s collapse, the crypto market may recover and pick up the stream. Until then, the bullish price action might be limited," said Edul Patel, CEO and Co Founder of Mudrex.

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Bitcoin | The world's largest and most popular virtual currency, Bitcoin, rose 1.7 percent to $17,254.2. Its market value stood at $331.8 billion. The trade volume was at $17.8 billion. The token has jumped nearly seven percent in the last seven days.

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On Bitcoin, Patel said, "BTC’s support now holds at the $16,000 level, where bears might become active. However, the immediate resistance for buyers lies at $17,622 to reverse the downward trend."

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Ethereum | The second largest virtual currency, Ethererum or Ether, rose 2.6 percent to $1,292.6 with a market capitalisation of $157.9 billion. The trade volume of Ethereum was $5.2 billion in the last 24 hours. The token has jumped 10.7 percent in the last one week.

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Dogecoin | Meme-based virtual currency, Dogecoin, rose 2.4 percent on Monday. Its market value stood at $13.9 billion. The trade volume was at $175.8 million.

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Shiba Inu | Shiba Inu increased 0.8 percent with a market capitalisation of $5.2 billion. The trade volume was $85.1 million in the last 24 hours.

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Solana | Solana jumped 4.9 percent to $14.1 with a market capitalisation of $5.1 billion. The trade volume of Solana was $180.6 million in the last 24 hours.

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Polygon | Polygon rose two percent with a market capitalisation of $8.1 billion. The trade volume was $193.6 million in the last 24 hours.

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