The market capitalization of all cryptocurrencies increased by more than 2% today to $896 billion.
Bitcoin, the biggest and most well-known digital token in cryptocurrencies, is currently trading more than 2% higher at $17,230. The largest token has decreased by 75% from its previous high of $69,000. According to data from CoinGecko, the total market value of all cryptocurrencies today remained below the $1 trillion threshold, despite having increased by over 2% in the previous day to $896 billion.
On the other hand, Ether, the second-largest cryptocurrency and a coin connected to the Ethereum blockchain, increased by over 3% to $1,281. Shiba Inu was up at $0.000009 while Dogecoin was trading more than a percent higher at $0.09 today.
“Over the past 24 hours, Bitcoin has consolidated above the $17,000 mark. BTC reached a high of $17,424, but the increase was short-lived as bears quickly regained control. While resistance is found above the $17,400 level, the next immediate support for BTC would be at the $17,000 level. Ethereum, on the other hand, is currently trading at $1,281 per unit. Only if the rate reaches $1,300 and stays there will more growth be possible, according to Mudrex CEO and Co-Founder Edul Patel.
The performance of other cryptocurrency prices today also improved, with gains seen in the prices of Binance USD, Avalanche, Tether, Terra, Solana, Polygon, ApeCoin, Stellar, XRP, Cardano, Uniswap, Polkadot, Chainlink, Litecoin, and Tron over the previous 24 hours.
According to Reuters, the US securities regulator advised public companies on Thursday to consider whether they need to inform investors of any potential effects of the turmoil in the cryptocurrency industry.
The latest indication that regulators are on high alert for additional fallout following the collapse of significant crypto firms including FTX and BlockFi Inc. is the guidance from the Securities and Exchange Commission’s (SEC) division of corporation finance, which is responsible for making sure public companies give investors key information.
The closure of FTX last month was the most shocking of several significant market participants this year, including Celsius and Voyager, major tokens terraUSD and Luna, which have shook investor confidence and destroyed $1.5 trillion in market capitalization for cryptocurrencies.