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Cryptocurrency prices: Bitcoin above $17,000, Ethereum up 4.5%; other tokens gain

Cryptocurrency prices: Bitcoin above $17,000, Ethereum up 4.5%; other tokens gain
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By Asmita Pant  Dec 9, 2022 9:40:41 AM IST (Updated)

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SUMMARY

Cryptocurrencies edged higher on Thursday, reversing most losses from the previous session. The global crypto market cap stood at $858.1 billion, with a volume of nearly $37.1 billion in the past 24 hours.

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Bitcoin | The world's largest and most popular virtual currency, Bitcoin, rose 2.6 percent to $17,252. Its market value stood at $331 billion. The trade volume was at $20.5 billion. The token has gained 1.2 percent in the last seven days.

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"The price of Bitcoin consolidated above the $17,000 level forming a new resistance zone. BTC’s immediate support lies at $17,100, while the resistance holds at $17,280 and then $17,400. If BTC fails to clear the resistance, there could be a fresh bearish reaction," said Edul Patel, CEO and Co-Founder of Mudrex.

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Ethereum | The second largest virtual currency, Ethererum or Ether, jumped 4.5 percent to $1,282.6 with a market capitalisation of $156.2 billion. The trade volume of Ethereum was $6.2 billion in the last 24 hours.

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On Ethereum, Patel said, "On the other hand, Ethereum is trading at the $1,281 level. Further growth is possible only if the rate gets to the $1,300 area and fixes there."

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Dogecoin | Meme-based virtual currency, Dogecoin, rose three percent on Friday. Its market value stood at $13 billion. The trade volume was at $487.9 million.

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Solana | Solana rose 2.2 percent to $13.7 with a market capitalisation of $5 billion. The trade volume of Solana was $187.8 million in the last 24 hours.

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Shiba Inu | Shiba Inu increased nearly two percent with a market capitalisation of $5.1 billion. The trade volume was $93.1 million in the last 24 hours.

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Polygon | Polygon jumped 3.7 percent to almost $0.9 with a market capitalisation of $8.1 billion. The trade volume was $268.8 million in the last 24 hours.

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