Cryptocurrency prices today: Bitcoin and ether prices today are rising, but Shiba Inus are declining
Today’s cryptocurrency values continued to rise, with Bitcoin trading beyond the $20,000 threshold. The price of the biggest and most used cryptocurrency in the world was trading about 1% higher at $20,397. According to CoinGecko, the market capitalization of all cryptocurrencies climbed again above the $1 trillion threshold today after increasing by around 1% the previous day.
On the other hand, Ether, the second-largest cryptocurrency and coin connected to the Ethereum blockchain, increased by more than 2% to $1,382. Shiba Inu fell more than a percent to $0.000012 while Dogecoin’s price today was nearly flat at $0.06.
The behaviour of other cryptocurrency values today was inconsistent, with modest advances recorded over the previous 24 hours for Avalanche, Binance USD, Polkadot, Cardano, Chainlink, Tether, ApeCoin, Solana, Litecoin, XRP, Stellar, Terra, Tron, Polygon, and Stellar prices.
The cryptocurrency hedge fund of Modular Asset Management has been investing in tokens like Algorand and Polkadot in the hope that, following a $2 trillion shakeout in digital assets, coins with higher sustainability traits will outperform. According to Chief Investment Officer Daniel Liebau in an interview with Bloomberg, the Modular Blockchain Fund, which was established in May, has also increased purchases of Cosmos recently.
As central banks throughout the world raising interest rates to tame growing inflation, the value of the global markets fell over the past few months. As fears of a recession increase, risky assets like cryptocurrency have been particularly severely hit.
Virtual currencies increased at the beginning of the week along with other risky assets, encouraged by speculation that the apex of a worldwide wave of monetary tightening is near. However, high inflation has proven to be a tenacious foe, and earlier spurts of confidence have a tendency to fade in a trying year for many investors.