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In cryptocurrencies, the price of Bitcoin rose today with the world’s largest and most popular digital token trade nearly flat with a positive bias at $16,566. The global cryptocurrency market capitalization remained below the $1 trillion mark today, as it was stable over the past 24 hours at $828 billion, according to data from CoinGecko.
On the other hand, Ether, the coin linked to the Ethereum blockchain and the second largest cryptocurrency, was also trading slightly higher at $1,195. Meanwhile, dogecoin price was trading around one percent lower today at $0.06 while Shiba Inu gained was down at $0.000008.
Current performance of other crypto prices was mixed as Tether, Stellar, XRP, Cardano, Litecoin, Polkadot, Uniswap, Solana, ApeCoin, Chainlink prices were trading with gains over the past 24 hours, while XRP, Solana, Avalance, Polygon, Tron were trading with cups.
Digital assets took a huge hit last year as the Federal Reserve and other major central banks around the world raised interest rates to tackle historic inflation, rattled by everything from federal policy tightening to implosions of the Terra/Luna ecosystem, Three Arrows Capital hedge funds and FTX exchange.
2022 has been dubbed the winter season in terms of cryptocurrencies, as the high-profile collapses of Terra/Luna and FTX sent shockwaves through the industry and liquidated over $2 trillion in total market capitalization. crypto since November 2021.
Bitcoin lost over 60% in 2022, its second-worst annual performance on record and only its third year down. Other cryptocurrencies also suffered, with Ether losing almost 70% and an index of the 100 largest coins losing around 65%.
Last week, MicroStrategy Inc., the enterprise software company best known in recent years as Bitcoin’s biggest buyer, announced a series of transactions, including its first-ever sale of the token, but remains a net buyer. In total, MicroStrategy held approximately 132,500 bitcoins worth over $4 billion as of December 27, 2022, according to Bloomberg.
(With agency contributions)
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