Cryptocurrencies have surged over the past 24 hours after US CPI data was released on Wednesday. The global crypto market cap is at $1.15 trillion as of 9:00 AM IST after witnessing a massive uptrend of 6.69 per cent over the last 24 hours, CoinMarketCap data showed. The crypto markets have not breached this level in the past 2 months.
Bitcoin zoomed 6.41 per cent and breached the $24,000 mark. The cryptocurrency is trading at $24,359.
Ethereum rallied a whooping 12.72 per cent, owing to the success of the Goereli testnet merger as well as positive cues after CPI data.
Stablecoins like USDT Tether and USDC maintained their pegs at $1. Each registered a 0.01 uptrend over the last 24 hours.
Binance’s BNB token gained 5.11 per cent and is trading at $331.
Ripple’s token XRP is up 5.38 per cent from its value 24 hours ago.
Cardano blockchain’s ADA token surpassed Binance’s stablecoin to become the seventh most valuable cryptocurrency after gaining 7.04 per cent in the last 24 hours.
Stablecoin BinanceUSD showed 0.01 per cent uptrend and is trading at $1.
SOL token, native to Solana blockchain, is up 11.46 per cent.
The DOT token of the Polkadot blockchain is trading at $9.49 after surging 10.02 per cent over the last 24 hours.
Memecoins Doge and Shiba Inu also gained in this rally. They zoomed 5.72 per cent and 4.68 per cent respectively.
Stablecoin DAI is trading at $1 and showed 0.02 per cent positive change in its value.
Polygon’s MATIC token rose 7.19 per cent in the last 24 hours.
AVAX token of Avalanche blockchain showed an upside of 7.54 per cent.
Uniswap maitained its position as the fifteenth most valuable cryptocurrency as per market capitalization. It rose 11.62 per cent over the last 24 hours.
Overall, majority top crypto tokens showed significant upside in the last 24 hours.