The crypto prices on Thursday echoed considerable optimism among traders and investors globally, embarking on rising trajectories. Bitcoin (BTC) price pumped to regain a hold above $97K, whereas Ethereum (ETH), XRP, and Solana (SOL) also traded dominantly in the green territory intraday. Intriguingly, PancakeSwap (CAKE) led the market gains today, surging by a staggering 59%.
Here’s a brief collection of the most buzzworthy coins for the day and how they are performing in the market.
Despite the U.S. CPI data coming in hotter than expected for January (at a 3% YoY basis), the crypto market has shown signs of recovery, sparking speculation among traders and investors globally. For context, usual market sentiments convey concerns surrounding risk assets like crypto amid rising inflation data.
However, BTC and altcoins took an upward trajectory, with the global cryptocurrency market cap rising 2.91% to $3.23 trillion. Further, even the global market volume saw a 24.91% increase to $130.06 billion.
BTC price witnessed a 2% uptick in the past 24 hours and is now trading at $97,539. The coin’s intraday low and high were $94,101.20 and $98,151.03, respectively. Bitcoin’s dominance over the past day witnessed a 0.54% decline, indicating that altcoins led the market gains today.
ETH price witnessed a 6% pump in value in the past 24 hours and is now trading at $2,742. The coin’s 24-hour low and high were $2,551.17 and $2,794.87, respectively. Intriguingly, the coin soars alongside the broader crypto market trend, while 21Shares’ recent proposal to offer services related to staking on spot ETH ETF products appears to have further boosted the market sentiment.
Simultaneously, SOL and XRP prices have mimicked the broader market trend, trading in the green zone today. XRP price gained nearly 4% in the past 24 hours and is now trading at $2.48. Its intraday bottom and peak were $2.35 and $2.49, respectively. SOL price jumped nearly 1% intraday and is now sitting at $197.55. The coin’s intraday low and peak were $189.61 and $198.45, respectively.
Also, Dogecoin (DOGE) price surged above 5% over the past day, reaching $0.2646. Further, Shiba Inu (SHIB) rose by 8% to $0.00001682. Even PEPE & TRUMP prices increased by 2%-7%, reaching $0.00001012 and $15.60, respectively.
Price: $3.15
24-Hour Gains: +59.21%
Price: $0.0253
24-Hour Gains: +22%
Price: $3.07
24-Hour Gains: +17%
Price: $5.93
24-Hour Loss: -5%
Price: $18
24-Hour Loss: -4%
Price: $3.77
24-Hour Loss: -1%
Overall, the broader crypto market today remains optimistic as prices show signs of a potential recovery. Besides, crypto analyst Ali Martinez highlights on X that the current resistance for BTC is at $97,530, although the coin traded above this level as of press time. A sustained momentum above this could result in further gains, driving broader market growth back near previous highs.
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