In cryptocurrencies, bitcoin price surged above the $20,000 mark today. Bitcoin, the world’s largest and most popular cryptocurrency, gained over 3% and was trading at $20,479. According to CoinGecko, the global cryptocurrency market cap was below $1 trillion today, even though it fell by more than 2% to $962 billion in the past 24 hours.
Ether, on the other hand, is the coin linked to the Ethereum blockchain and the second largest cryptocurrency, jumped over 6% to reach $1,182. Meanwhile, the price of Dogecoin is up almost 3% to $0.06 today, while the Shiba Inu is up 3% to $0.0000011.
Today’s performance of other crypto prices also improved such as XRP, Solana, BNB, Litecoin, Stellar, Chainlink, Tron, Uniswap, Tether. Polygon, Apcoin, Avalanche, Polkadot price were trading with gains in the last 24 hours.
“Most cryptocurrencies gained momentum late Wednesday after tracking gains in US equities markets. Bitcoin and Ethereum are up around 3% and 6% over the past 24 hours. Even though BTC has regained growth, it may It may not accumulate enough strength to maintain that stability. If BTC remains at $20,000 by the end of the day, a test of the $21,000 area can be expected soon,” said Mudrex co-founder CEO Edul Patel said.
The cryptocurrency lender, which flourished during the COVID-19 pandemic, has run into difficulties recently due to the collapse of a major coin in May and a downturn caused by global risk-off sentiment.
Voyager Digital has filed for bankruptcy, the crypto lender said in a statement on Wednesday, a week after suspending withdrawals, trading and deposits on its platform as the company issued a default notice to the hedge fund. Additional time was sought to explore the options. Three Arrows Capital (3AC) for the fund’s failure to make the required payments on the loan.
In its Chapter 11 bankruptcy filing on Tuesday, Toronto-listed Voyager estimated it had more than 100,000 creditors and somewhere between $1 billion and $10 billion in crypto assets. The company also recorded the same limit for its liabilities.
Last week, crypto hedge fund Three Arrows Capital (3AC) filed for Chapter 15 bankruptcy, a move that protects its US assets during liquidation in the British Virgin Islands.
The cryptocurrency industry has been rocked by several collapses in recent months, including the failure of the so-called stablecoin TeraUSD, the withdrawal of large US-based lender Celsius Network, and Singapore-based crypto hedge fund Three Arrows Capital entering into liquidation.
(with inputs from agencies)