Cryptocurrency Market Witnesses A Rise After Facing A Downward Trend For Days

Cryptocurrency Market witnessed a rise in its value after constantly declining for the last couple of days. According to CoinMarketCap, the market on Saturday, January 15, 2022, was standing at $2.06 trillion. Over the course of the last 24 hours, the volume of traded coins was at $75.44 billion, showing an increase of 27.28 percent.

The stable coins were volumed at $60.36 billion, constituting 80.01 percent of the total crypto market for the last 24 hours. As more traders held their coins, the global crypto volume fell significantly.

The price of one unit of Bitcoin, the world's largest cryptocurrency by market price, rose to $43,065.58, on Saturday, January 15#Bitcoin #Cryptocurrency https://t.co/i0xdpALdGD

— News18.com (@news18dotcom) January 15, 2022

Constantly low for last few days

Due to the new Covid variant- Omicron, investors stayed away from investing in the crypto market. Avoiding the risk, they instead have been investing in much safer assets instead. For this reason, the crypto market was on a downward trend for a while now.

Significant rise on Saturday

The top 10 crypto coins, other than Tether and USD rose in their value, on Saturday. Coins such as Bitcoin, Ethereum, Binance, Polkadot, Cardano, and others saw an increase in their prices.

According to CoinMarketCap, one unit of Bitcoin saw a rise of 2.44 percent in its value in the last 24 hours, whereas it had just increased by 2.79 percent over the last seven days. The coin rose to $43,065.58. Ether, also witnessed an increase of 3.42 percent in the last 24 hours. It had just increased by 3.16 percent in the last 7 days. The coin crossed the $3,300 mark on the day.

Other than these, Megatech became the top gainer on Saturday. Its value got increased by over 1,314.69 percent during the day. Dogelana and NDN link gained the second spot. Dogelana showed an increase of nearly 485.63 percent, whereas NDN link had an increase of $468.06 percent.

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Yash Mittal

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