Big boom in the crypto market today with Bitcoin, Ether

Bitcoin has given some relief to investors by gaining for the second day in a row. The world’s largest cryptocurrency has gained 2.08 percent in the past 24 hours. Globally, the value of bitcoin is trading at $ 20,500 (about Rs 16.5 lakh). While the price of bitcoin is trading at $20,996 (approximately Rs 16.8 lakh) on the Indian exchange Coin Switch Kuber, which is an increase of 1.88 percent in the last 24 hours. On global exchanges like CoinMarketCap, Coinbase and Binance, bitcoin is trading at $20,556 (about Rs 16.44 lakh). Bitcoin is down 4.7 percent in week-to-date performance, according to data from CoinGecko.

The second largest coin ether in the cryptocurrency market has seen a good rise today. A day before this also saw a surge in Ether. Taking the lead for the second day in a row, the world’s second largest cryptocurrency is trading at $1,224 (about Rs 97,990) on Indian exchange Coin Switch Kuber. While the price of Ether is trading at $1,189 (about Rs 95,209) on global exchanges. Its price has increased by 7.31 percent in the last 24 hours.

The Gadgets 360 Cryptocurrency Price Tracker shows that along with Bitcoin and Ether, other popular altcoins have seen an increase. This can be gauged from the global crypto market cap. Global crypto market capitalization has gained 3.05 percent in the last 24 hours. The price of BNB, Solana, Polygon, Stellar, Avalanche, Cardano and Chainlink has jumped today. Among them, Monero, Uniswap, Elrond, and Cosmos have recorded the highest jump of up to 7 percent.

Speaking of meme cryptocurrencies, Shiba Inu and Dogecoin also saw gains today. Dodgecoin price is currently trading at $0.06 (approximately Rs. 5.17) which is an increase of 1.63 percent in the last 24 hours. At the same time, the price of Shiba Inu is trading at $0.000011 (approximately Rs.0.000875) which is an increase of 0.92 percent in the last one day.

Ki Yong Joo, CEO of South Korea-based on-chain analytics company CryptoQuant, has said that bitcoin will soon see a short squeeze, a situation that will lead to a sharp jump in the price of bitcoin.

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