The cryptocurrency ether, which is tied to the Ethereum blockchain, has surpassed the $3,000 mark for the first time since January.
Check cryptocurrency prices today market, Bitcoin is now trading over the $42,000 level, having risen past $40,000 over the weekend. At $42,134, the world’s biggest and most popular digital coin was up more than 1.5 percent. So far in 2022 (year-to-date or YTD), Bitcoin is down approximately 9%, but it is still 39% off its all-time high of about $69,000 set in November 2021.
Meanwhile, according to CoinGecko, the global cryptocurrency market capitalization has risen back beyond $2 trillion today, aided by a spike in crypto prices.
Ether, the cryptocurrency tied to the ethereum blockchain network, has surpassed the $3,000 mark for the first time since January 21. The digital currency was selling at a little lower price of $3,025. Binance Coin, meanwhile, fell nearly 0.6 percent to $419.
The price of Dogecoin increased by more than 5% to $0.15, while the price of Shiba Inu increased by more than 2% to $0.000029. Other currencies’ performance was varied, with XRP, Stellar, Avalanche, Cardano, and Polygon prices rising in the previous 24 hours but Terra, Polkadot, and Solana prices falling.
The surge in cryptos coincided with a recovery in US equities, with the tech-heavy Nasdaq concluding the week with gains despite the high volatility associated with results. After witnessing broad drops in January, cryptocurrencies have been essentially locked in a range during the last several weeks.
The stock market’s rebound bolstered other listed crypto assets on Friday, with miner Riot Blockchain gaining after reporting that bitcoin output more than quadrupled in January compared to the previous year.
Their inability to break out occurred as growth stocks and other risky assets struggled due to market worry about the effect of impending Fed rate rises and a worldwide trend toward tighter monetary policy.