crossorigin="anonymous">The price of a crypto asset exceeds $800 billion

The price of a crypto asset exceeds $800 billion.

That’s more than the combined gross domestic product of the world’s 20 largest economies. In fact, it’s more than the GDP of all but one country in the world. In recent years, the number of cryptocurrencies has exploded. Today there are over 1,500 crypto assets in existence. Some of them are very well known, others are not so much. However, what they all have in common is that they were created with a specific purpose or idea in mind.

At $16,500, Bitcoin is above the most expensive dollar amount ever recorded by crypto market capitalization today. The price of a crypto asset exceeds $800 billion.

New Delhi: The conventional cryptocurrencies market recorded a high on Tuesday, and the aggregate cryptocurrency market capitalization surpassed the $800 billion mark.

The crypto m-cap crossed the $800 billion mark, with industry leaders like Bitcoin and Ether leading the effort. Solana, which was battered after the cofounder tidings speculations, experienced a 10% one day after a sudden increase of over 20% in 24 hours. The Ethereum founder thought the chain had a bright future, which possibly created investor faith in SOL. Shivam Thakral, CEO of BuyUcoin, said Solana received funding from the blockchain founder.

Almost all of the other tokens were also trading higher on Tuesday. Solana gained $ 17.55 . Bitcoin, Ethereum, Binance, Dogecoin, Polygon, and Litecoin were additionally exchanging higher. In any case, Leo and Toncoin were exchanging lower.

Between $806.83 billion and $808.22 billion, the global trade value of the cryptocurrency market rose over the past 24 hours.

DeFi is currently worth $1.72 billion, 7.30 per cent of the total crypto market’s total volume. The corresponding cumulative amount of all stablecoins is now $21.19 billion, 90.05 percent of the total crypto market’s total volume.

The public value of the cryptocurrency Bitcoin, which is larger than all of the other currencies in the world in addition to other currencies, fluctuated around $340 billion, with a 39.85 percent dominance and a 0.23 change in either direction over the course of the day, according to CoinMarketCap.

crypto asset exceeds $800 billion
crypto asset exceeds $800 billion

CoinMarketCap: Quick Overview (Source: Cryptocurrency data as of 11.17 p.m. on January 3, 2023)

  • Bitcoin worth $16,718.31 is 0.38 bitcoins.
  • Ethereum $1,216.61, $116.16.
  • Tether $0.9998 0.01%
  • USD Coin $1 -0.01%
  • BNB $246.30 0.97%
  • XRP $0.3471 5.30%
  • Dogecoin 0.07187 2.47%
  • Cardano $0.2538 1.58%
  • Polygon $0.7819 3.31%
  • Polkadot $4.51 1.26%
  • Tron $0.05535 1.20%
  • Litecoin $75.62 7.14%
  • Shiba Inu $0.000008177 1.04%
  • Solana $11.71 17.42%

Note: Price change in last 24 hours

Tech View

Ethereum took a sharp dive in the third week of December, going from about $1,350 to $1,150 in a matter of a few days. Since then, it continues to trade between the resistance at $1,228 and the support at $1,150.

ETH appears to be forming a bear flag now. It is also trading very close to its 200-day moving average at $1,385, remaining in a down trend. While it does have support just below, given the nature of the market, the support at $1,150 will be a key one, and if the price drops below, $1,075. Bears may attempt to further drag the price to the psychological support at $1,000. ETH is in the range of the strong resistance at $1,228, followed by targets at $1,250 and $1,275,” it stated.

Information, ideas, or recommendations expressed by certain individuals are not those of The Economic Times.


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