Crypto Price Today: Bitcoin trades near $42,800; Polygon, Toncoin shed up to 4.5%
cryptocurrency tokens were trading lower in Thursday's trade amid expectations that the global rate easing cycle may not come as early as some had initially thought.
At 11:33 a.m., BTC was trading 0.2% lower at $42,757, while the second most popular token, Ethereum, was down 1.3% at $2,529. At the same time, the global cryptocurrency market cap declined by 0.63% in the last 24 hours to approximately $1.68 trillion.
«The overall crypto market is at $1.68 trillion with Bitcoin and Ether witnessing marginal fluctuation from the previous day. If Bitcoin closes above $43,000 this week, then we may witness a healthy surge in its price in the coming weeks,» said Shivam Thakral, CEO of BuyUcoin.
Meanwhile, ZebPay Trade Desk said, «This drop in Bitcoin price coincided with US investors turning towards institutional investment products following the approval of spot ETFs. Long liquidations totaling over $27 million occurred within 24 hours on January 17, with Bitcoin long liquidations accounting for the majority, wiping out $19.5 million.»
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View Details»Other major altcoins, such as Polygon and Toncoin, fell 3% and 4.5%, respectively. Also, BNB, XRP, Dogecoin, Polkadot, Chainlink, Internet Computer, and Shiba Inu declined.
The total volume in DeFi is currently $4.96 billion, 9% of the total crypto market 24-hour volume. The volume of all stablecoins is now $50.67 billion, which is 92.02% of the total crypto market 24-hour volume.
Bitcoin's dominance is currently 49.83%, according to CoinMarketCap. BTC volume in the last 24 hours fell 15% to $20.3
