Crypto Price Today: Bitcoin above $17,200; XRP, Shiba Inu and Cardano drop up to 4%

New Delhi: The cryptocurrency market was trading mixed on Tuesday. Bitcoin, Ethereum, and Dogecoin were trading with gains, while Binance, XRP, and Cardano were trading with cuts.

“The overall crypto market remains stable, with Bitcoin and Ether showing marginal jump after witnessing a strong upswing yesterday. Solana, which was caught in the FTX collapse, received a new lease of life in 2023 with a mega rally of 42% in the past 7 days,” Shivam Thakral, CEO of BuyUcoin, said.

The current favourable macroeconomic factors are boosting the value of dormant crypto assets and this may be a good sign for the crypto market in the long term, Thakral added.

Bitcoin rose 0.09% and held near the $17,200 mark, whereas Ethereum was comfortable above $1,300 levels.

Other top crypto tokens were trading lower on Tuesday. Cardano fell 4.07%. Shiba Inu, Polygon, and Tron were also trading lower. However, Dogecoin fell around 1.5%.

The global cryptocurrency m-cap was trading lower around $850.17 billion, increasing 0.04% in the last 24 hours.

The total volume in DeFi is currently $3.33 billion, 8.03% of the total crypto market 24 hour volume. The volume of all stablecoins is now $38.03 billion, 91.83% of the total crypto market 24-hour volume.
The price of Bitcoin, the world’s largest cryptocurrency, hovered around $331.86 billion, with a dominance of about 39.02%, a decrease of 0.03% over the day, according to CoinMarketCap.

“Bitcoin reached a three-week high, rising above the $17,200 level, and Ethereum also saw an increase, reaching above the $1,300 level. This marked the highest point for both cryptocurrencies since mid-December. If the positive trend continues, the next resistance level for Bitcoin would be at $17,400, with a support at $17,050, while the next resistance level for Ethereum would be at $1,400, with a support level at $1,300,” Edul Patel, CEO and Co-Founder of Mudrex, said.

Crypto Cart: Quick

(Source:
coinmarketcap.com, data as of 11.56 hours, IST on January 10, 2023)

Bitcoin $17,224.68 0.05%

Ethereum $1,325.50 1.32%

Tether $0.9997 -0.01%

USD Coin $0.9999 -0.01%

BNB $274.44 -1.43%

XRP $0.3487 -0.87%

Dogecoin 0.07597 1.20%

Cardano $0.316 -3.47%

Polygon $0.8487 -0.84%

Polkadot $4.90 -0.28%

Tron $0.05082 -7.14%

Litecoin $81.33 -0.71%

Shiba Inu $0.000008708 -0.99%

Solana $16.17 0.27%

(Note: Price change in last 24 hours)

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)