Bitcoin (BTC) breached the $30,000 mark on April 11, reaching its highest point since June 2022.
At the time of writing, BTC was trading at $30,073, while its market capitalization reached $581.7 billion, according to CryptoSlate data. Bitcoin is up 6% in the last 24 hours and 7.41% in the last week.
Bitcoin’s rally boosted the entire cryptocurrency market: The global cryptocurrency market capitalization rose more than 4% to $1.24 trillion in the last 24 hours. The total trading volume of the crypto market reached $47.26 billion.
Ethereum (ETH), the second largest cryptocurrency, has gained 3.1% over the past day to trade at $1,917 at press time. ETH’s market capitalization stood at $230.9 billion. Ethereum last approached the $2,000 mark in August 2022.
The gains came ahead of the Shanghai update scheduled for April 12, when 18 million staked ETH worth around $34 billion will be unlocked. The unlocking is expected to create selling pressure on ETH and negatively impact the ETH price.
With the previous day’s gains, Bitcoin and Ethereum are up more than 81% and 60% year to date, respectively.
Solana (SOL) posted the highest gains over the past day, rising 9.66% over the past day to $22.22 as of this writing. The prices of BNB (BNB), Cardano (ADA) and XRP (XRP) are up 4% or more in the last 24 hours. BNB rose 4.66% to $327.49 while XRP price rose 4% to $0.52. The Cardano price is up 4.32% at $0.40 at the time of writing.
Dogecoin (DOGE) and Polygon (MATIC) posted minor gains of 1.65% and 2.66% respectively over the past day.
The surge in cryptocurrency prices comes at a time when investors are awaiting key inflation data to be released later this week. Traders expect to see a pause in the Fed’s rate hikes, which could further boost cryptocurrency prices.
Bitcoin Post Passes $30k, Ethereum Nears $2k appeared first on CryptoSlate.
