Cryptocurrency prices: Bitcoin, Ethereum, Dogecoin gain 1-4% amid positive moves in global markets

By Asmita Pant  Aug 25, 2022, 02:48 PM IST (Published)

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Bitcoin — the world’s largest and most popular virtual currency — traded above the $21,000 level. The token was almost a percent up at $21,534.9, at the time of writing. Its market value stood at $411.7 billion. The trade volume was at $31.5 billion. 

Major cryptocurrencies extended gains on Thursday amid largely positive trends in global markets. The global crypto market cap stood at $1.03 trillion with a volume of $65.4 billion in the past 24 hours.

Bitcoin — the world’s largest and most popular virtual currency — traded above the $21,000 level. The token was almost a percent up at $21,534.9, at the time of writing. Its market value stood at $411.7 billion. The trade volume was at $31.5 billion.

Ethererum or Ether — the second largest virtual currency — was 3.22 percent up at $1,674.2 with a market capitalisation of $204.6 billion. The trade volume of Ethereum was $15.6 in the last 24 hours.

Edul Patel, CEO and co-founder of Mudrex, said that the small upside move in Bitcoin might give the market players a little confidence in a short-term bearish to bullish momentum.

“The second largest cryptocurrency, Ethereum, gained nearly 4% over the previous day after Ethereum Foundation confirmed that the upgrade would be completed between September 10th-20th. This announcement might likely keep buyers active in the market, pushing the price of ETH up,” Patel said

Meme-based virtual currency Dogecoin was 1.3 percent up with a trading volume of $331.8 million. Shiba Inu, however, was trading 0.2 percent lower at $0.000013 while Solana was 1.7 percent up at $35.4 billion.

The Indian financial market opened in green on Thursday breaking a three day negative opening streak tracing largely positive cues from global markets.

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