Cryptocurrency values saw a slight rise today, with the most notable digital asset, Bitcoin, trading virtually unchanged at $16,607. According to CoinGecko data, the global cryptocurrency market capitalization remains below $1 trillion, holding steady at $828billion over the past 24 hours.
On the other hand, Ether, the second-largest cryptocurrency linked to ethereum, experienced a one percent gain to $11,198. In the meantime, Dogecoin price traded at $0.07 and Shiba Inu saw more than 2% increase to $0.000008.
Performance of other cryptocurrency markets was mixed. Prices for Tether, Stellar, XRP, Cardano, Litecoin, Polkadot, Uniswap, Solana, and ApeCoin (among others) traded with gains in the past 24 hours, while Avalanche, Chainlink, Polygon, and Tron posted losses.
MicroStrategy Inc, an enterprise software company most well-known for its significant Bitcoin purchases, announced a series of transactions, including its first token sale. However, the company is still a net buyer of Bitcoin. MicroStrategy’s total holdings as of December 27, 2022, amount to approximately 132,500 Bitcoin worth more than $4 billion at the time, according to Bloomberg.
Digital assets have been hard hit by the changing economic environment. To counter record-breaking inflation, central banks have raised interest rates. The Fed policy implosions should be kept under control by the Terra/Luna ecosystem, hedge funds, and the FTX exchange.
This winter season is a term used in cryptocurrency terms to describe the most notable crashes of the year. The industry was stunned when FTX wiped away more than $2 Trillion in crypto market capitalization, a record high for the sector, in November 2021.
(With contributions from Agents)
