Cryptocurrency prices today rose marginally with the world’s largest and most popular digital token Bitcoin trading more than 5% higher at $19,088. The global crypto market cap today was below the $1 trillion mark, even as it was rose nearly a per cent in the last 24 hours at $969 billion, as per CoinGecko.
On the other hand, Ether, the coin linked to the ethereum blockchain and the second largest cryptocurrency, also rose by 3% to $1,330. Meanwhile, dogecoin price today was over 3% higher at $0.06 whereas Shiba Inu was up more than 6% to $0.000011.
Other crypto prices’ today performance also improved as Avalanche, Binance USD, Polkadot, Cardano, Chainlink, Tether, ApeCoin, Solana, Litecoin, Terra, Stellar, XRP, Tron, Uniswap, Cardano, Polygon prices were trading with marginal gains over the last 24 hours.
“Bitcoin, Ethereum, and most cryptocurrencies changed hands in green after the release of September’s U.S Consumer Price Inflation data which was higher than expected. BTC rose by nearly 4% after dropping to as low as $18,300 post-CPI’s release. If BTC can move above the current level, we might see it rise to US$20,00 soon. On the other hand, ETH has also covered its losses by gaining almost 3% in the past 24 hours. If ETH can close above the US$1,400, we might see an upward trend,” said Edul Patel, CEO and Co-founder, Mudrex- A Global Crypto Investment Platform.
A key gauge of US consumer prices advanced to a 40-year high in September, underscoring persistent, elevated inflation that’s squeezing households and pushing the Federal Reserve toward another aggressive rate hike.
The core consumer price index, which excludes food and energy, increased 6.6% from a year ago, the highest level since 1982, according to data released by the US Labor Department showed Thursday. From a month earlier, the core CPI climbed 0.6% for a second month.
(With inputs from agencies)
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