Cryptocurrency prices today: Bitcoin, ether gain marginally; dogecoin, Shiba Inu fall

In cryptocurrencies, Bitcoin price today rose with the world’s largest and most popular digital token trading almost flat with a positive bias at $16,566. The global cryptocurrency market cap today remained below the $1 trillion mark, as it was flat in the last 24 hours to $828 billion, as per the data by CoinGecko.

On the other hand, Ether, the coin linked to the ethereum blockchain and the second largest cryptocurrency, was also trading marginally higher at $1,195. Meanwhile, dogecoin price today was trading about a per cent lower at $0.06 whereas Shiba Inu gained was down at $0.000008.

Other crypto prices’ today performance were mixed as Tether, Stellar, XRP, Cardano, Litecoin, Polkadot, Uniswap, Solana, ApeCoin, Chainlink prices were trading with gains over the last 24 hours, whereas XRP, Solana, Avalance, Polygon, Tron were trading with cuts. 

Digital assets suffered mightily last year as the Federal Reserve and other major central banks around the world have raised interest rates to fight historic inflation, buffeted by everything from the Fed’s policy tightening to the implosions of the Terra/Luna ecosystem, hedge funds Three Arrows Capital and exchange FTX.

2022 was termed as the winter season in terms of cryptocurrencies, as the high-profile collapses of Terra/Luna and FTX sent shockwaves across the industry and liquidated more than $2 trillion from the total crypto market cap all-time high from November 2021.

Bitcoin lost more than 60% in 2022, its second-worst annual performance on record, and only its third down year ever. Other cryptocurrencies also suffered, with Ether losing near 70%, and an index of the 100 largest coins dropping roughly 65%.

Last week, MicroStrategy Inc., the enterprise-software firm better known in recent years as the largest corporate buyer of Bitcoin, announced a series of transactions including its first ever sale of the token, however, remains a net buyer. All in, MicroStrategy held about 132,500 Bitcoin worth more than $4 billion as of December 27, 2022, as per Bloomberg.

(With inputs from agencies)

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