Cryptocurrency market is showing some strength today, shrugging off concerns from the new coronavirus variant Omicron, that has roiled global markets recently.
Bitcoin price today gained slightly, trading at $57,051.09, but still below the record highs, with a market capitalisation over $1 trillion. The world’s largest crypto asset had recently hit all-time high of around $69,000 and is up over 95.88% this year (year-to-date or YTD) so far.
The global crypto market cap is currently $2.66 trillion, up marginally over the previous day.
Meanwhile, Ethereum, the second largest cryptocurrency surged is up over 6% at $4,713, according to the data from Coindesk.
Ether has outperformed Bitcoin by the greatest amount this year since the native token of the Ethereum network was launched in 2015 as an alternative to the original cryptocurrency.
The token is making a run toward record highs once again, a rally whose trek was upended at the end of last week amid wider risk-asset turmoil. But after it bounced off its 50-day moving average on Monday, Ether has broken out to the upside and has advanced around 13% since Friday.
While both are down from record highs set earlier this month, Ether has gained about 530% since December, compared with a doubling in value by Bitcoin, widening the performance gap between the two by more than 400 percentage points.
Dogecoin price was down 2.99% today at $0.2142 whereas Shiba Inu rose more than 16% to $0.00004508, as per Coinmarketcap. Bankless DAO (BANK) coin has emerged as the biggest gainer in the last 24 hours, gaining over 6,000%.
Other cryptocurrencies such as Solana, Binance Coin and Terra gained, while XRP, Polkadot and Cardano were trading lower in the last 24 hours.
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