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Bitcoin price today increased, with the world’s largest and most popular digital asset trading nearly flat with a bullish bias at $16,871. According to CoinGecko data, the worldwide cryptocurrency market valuation today stayed below $1 trillion, remaining practically steady in the last 24 hours at $847 billion.
Ether, the second largest cryptocurrency and the token tied to the ethereum network, was practically unchanged at $1,220. Meanwhile, the price of dogecoin today was over an at $0.07, while Shiba Inu was down at $0.000008.
Binance USD, Avalanche, Tether, Terra, Solana, Polygon, Stellar, XRP, Cardano, Litecoin, Polkadot, Chainlink, ApeCoin, Tron, Solana, and Uniswap prices were likewise flat during the last 24 hours.
After reaching record highs late last year, cryptocurrency has had a rough 2022, buffeted by everything from the Fed’s policy tightening to the implosion of the Terra/Luna ecosystem, hedge funds Three Arrows Capital, and exchange FTX. This year, digital assets have suffered greatly as the Federal Reserve and other major central banks across the world hiked interest rates to combat record inflation.
The demise of FTX last month was the most surprising in a string of big market player closures this year, including Celsius and Voyager, as well as prominent tokens terraUSD and Luna, which have damaged investor confidence.
