Cryptocurrency prices today gain as Bitcoin trades above $19,000; dogecoin, XRP surge

Cryptocurrency prices today gained with Bitcoin trading above the $19,000 mark. The world’s largest and most popular cryptocurrency Bitcoin gained nearly a per cent and was trading at $19,234. The global cryptocurrency market cap today was below the $1 trillion, even as it was up marginally in the last 24 hours to $910 billion, as per CoinGecko.

On the other hand, Ether, the coin linked to the ethereum blockchain and the second largest cryptocurrency, rose more than a per cent to $1,073. Meanwhile, dogecoin price today was trading 3% higher at $0.06 whereas Shiba Inu gained marginally to $0.000010.

Other crypto prices’ today performance also improved as XRP, Solana, BNB, Litecoin, Stellar, Chainlink, Tron, Uniswap prices were trading with gains over the last 24 hours, whereas Polygon, Apecoin, Tether slipped.

Cryptocurrencies have suffered this year amid Federal Reserve rate hikes and stubbornly high inflation. After crypto’s last two-year hibernation ended in 2020, the sector spiked to around $3 trillion in total assets last November, before plunging to less than $1 trillion. The collapse of the Terra/Luna ecosystem and the continued concern about hedge fund Three Arrows Capital Ltd. further rattled investors.

Crypto hedge fund Three Arrows Capital (3AC) is seeking protection from creditors in the United States under Chapter 15 of the U.S. Bankruptcy Code, which allows foreign debtors to shield U.S. assets.

Meanwhile, crypto lender Voyager Digital said on Friday it has suspended withdrawals, trading and deposits to its platform and later said it it’s pursuing strategic alternatives and that it’s focused on protecting assets and maximizing value for all customers as quickly as possible.

The move comes days after the company issued a default notice to embattled hedge fund Three Arrows Capital (3AC) for the fund’s failure to make required payments on a loan.

Bitcoin, the largest and most well-known cryptocurrency, is down 58% in the first six months of 2022, its worst first half of year showing ever as digital assets have struggled since US based lender Celsius Network this month said it would suspend withdrawals.

(With inputs from agencies)

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