Cryptocurrency Prices Today: Bitcoin Slips, Ether Gains, Ethereum Classic Rises 22%
Bitcoin price today fell marginally and it traded below the $20,000 level. The world’s largest and most popular cryptocurrency traded slightly lower at $19,731. The global crypto market capitalization topped $1 trillion today, as it was up one percent in the past 24 hours to $1.03 trillion, according to CoinGecko.
“This week started on a bearish note. Bitcoin has been trading sideways between $19,500 and $20,500 for the past few days. BTC is likely to test the support around this level’s lower zone as BTC struggles to hold its current levels. The current fall may be due to the fact that of high sell orders in the last week. If buyers can make a move above the $20,000 level, we may see BTC bounce back soon. On the other hand, the Ethereum rally is now less than two weeks away and the price of the coin continues to hold at $1,600 .As the activities pick up, the interest is likely to create more demand in the coming days,” said Edul Patel, CEO and co-founder of Mudrex.
On the other hand, Ether, the coin linked to the ethereum blockchain and the second largest cryptocurrency, gained nearly 4% to $1,630. Ethereum is moving to proof-of-stake for its consensus protocol. Called “the merge,” the software upgrade has been in the works for years, and it will change the way ethereum orders transactions to become more energy efficient.
Meanwhile, dogecoin price traded flat today at $0.06, while Shiba Inu fell about one percent to $0.000013. Other crypto price performance today was mixed, as Chainlink, Apecoin, XRP, Uniswap, Binance USD, Polkadot, Tether, Litecoin, Avalance, Solana prices traded with small gains over the past 24 hours, while Cardano, Stellar, Tron, Polygon fell. Ethereum Classic surged over 22% as ether enters the merge with the Bellatrix upgrade today.
Binance, the largest crypto exchange by volume, will begin converting existing user balances and new deposits of USD Coin (USDC), Pax Dollar (USDP) and True USD (TUSD) into the company’s own stablecoin, according to a statement published on Monday.
USDC, issued by Circle Internet Financial, is the second-ranked stablecoin after Tether, with a market capitalization of nearly $52 billion, according to data from CoinGecko. Binance’s stablecoin, BUSD, is a distant third at around $19.3 billion.
(With input from agencies)
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