Crypto Price Today: Bitcoin rises above $29k; Ethereum, Polygon surge up to 3%

economictimes.indiatimes.com:

cryptocurrency markets were trading higher in Thursday's trade after the US Fed raised its benchmark lending rate by 25 bps again to cool inflation. Bitcoin (BTC) rose 2.44% to $29,152, whereas Ethereum (ETH) was above the $1,900 level. BTC volume in the last 24 hours stood at approximately $19.5 billion, rising 20.54% in the last 24 hours. «Following the Federal Reserve's decision to raise interest rates by 25 basis points, Bitcoin is regaining its strength. The Fed indicated that this week's increase could be the last for the time being. At present, Bitcoin is being traded at the US$29,000 level and is gradually approaching its resistance levels of US$29,420 and US$30,000,» Edul Patel, Co-founder and CEO at Mudrex, said. “As the upcoming US employment figures are scheduled to be released on Friday, investors and traders are keeping a watchful eye on them,” Edul added. The global cryptocurrency market cap was trading higher around $1.20 trillion, rising 2% in the last 24 hours.

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The total volume in DeFi is currently 3,45 billion, 8.04% of the total crypto market 24-hour volume. The volume of all stablecoins was at $38.99 billion, which is 90.76% of the total crypto market 24-hour volume. The market cap of Bitcoin, the world's largest cryptocurrency, was around $563 billion. Bitcoin’s dominance is currently 47.13%, an increase of 0.21% over the day, according to CoinMarketCap. «Bitcoin (BTC) rallied 2%