Crypto Prices Today: Bitcoin Below $38,000, Ether, Dogecoin Also Falling While Tron, Stellar Rise
In terms of cryptocurrency, Bitcoin price today dropped below $38,000. The world’s largest and most popular cryptocurrency is trading one percent lower at $37,972. The global crypto market value today has dropped more than 1% in the past 24 hours to $1.81 trillion, according to valuations from CoinGecko.
Bitcoin has struggled with risky assets in recent months. It has mostly traded in the $35,000 to $45,000 range this year as the Federal Reserve begins to raise interest rates amid high inflation. After hitting an all-time high of nearly $69,000 in November, Bitcoin has been devalued. The digital token is down around 18% since the start of the year (YTD).
On the other hand, Ether, the coin associated with the ethereum blockchain and the second largest electronic money, also fell more than 1% to $2,797. Meanwhile, dogecoin price today traded around 0.5% lower at $0.13 while Shiba Inu was flat at $0.000021.
The performance of other digital tokens is also mixed as the prices of Solana, Polkadot, Cardano, Uniswap, Terra, XRP, Avalanche, Litecoin are trading with a cut while Polygon, Tron, Stellar slip up slightly. in the last 24 hours.
Crypto assets, like other risky sectors of the market, were weighed down as the Federal Reserve and other global central banks raised interest rates to combat hot inflation.
Meanwhile, venture capital is making a big move into crypto in 2022 as private equity investors are moving towards crypto projects – blockchain-based applications and platforms. fueled by cryptocurrency derived from the virtual economy of the metaverse and Web3.
VC investments in such projects totaled $10 billion globally in the first quarter of this year, the largest quarterly amount ever and more than double the same period a year. before, according to data from Pitchbook, Reuters reported.
(With input from agencies)
