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24 Hrs Crypto Update, Jan 15: Crypto Market Again Pumps After a Brief Stable Movement

  • The global cryptocurrency market has recovered after a brief period of stability.

  • The prices of BTC, ETH, SHIB, and DOGE have shown little gains in the last 24 hours.

16 Jan 2023 By : COIN GABBAR
24 Hrs Crypto Update

The broader crypto market turned bullish and showed little gains in the last 24 hours due to macroeconomic circumstances. As a result, the prices of Bitcoin, Ethereum, and Shiba Inu are trading in the green.

At the time of writing, the global cryptocurrency market cap has surged 0.3% in the last 24 hours to $1.02 trillion. As per CoinGabbar data, the total crypto market volume in the last 24 hours was $58.36 billion.

The crypto market leader, Bitcoin price is currently trading at $20,995. This follows a 1% increase in the last 24 hours. As a result, its market capitalization stands at $400.94 million. 

As per CoinGabbar statistics, ETH, the second largest cryptocurrency by market cap, is currently trading at $1,557.9, which increased by 1.92% in the last 24 hours. 

Cryptocurrencies Price Action

The price of Binance (BNB) has increased by 1.3% in the last 24 hours. BNB is currently ranked 4th in CoinGabbar's top cryptocurrency ranking in terms of market cap. At the time of writing, the price of BNB was trading at $303.3. 

In addition, the price of Solana increased by 0.8% in the last 24 hours. SOL is currently ranked 11th in CoinGabbar's top cryptocurrency ranking in terms of market cap. At the time of writing, the SOL price was trading at $22.96.

Furthermore, Shiba Inu (SHIB) continues to gain momentum and is currently trading at $0.0000109. It increased by 6.38% in the last 24 hours.

What Turns the Crypto Market bullish?

The global crypto market has turned bullish because of the massive movement of large whales. As per reports, after a brief stable momentum, the whales became active and started buying assets at market prices, assisting the market in regaining a bullish momentum.

Major Events Around the World
  • Ethereum layer-2 scaling solution Polygon will undergo a hard fork on January 17 to address gas spikes and chain rearrangement issues that have hampered user experience on the Polygon PoS chain.

  • FTX's attorney testified in bankruptcy court that SBF paid FTX-co founder Gary Wang $65 billion to create a backdoor entrance for Alameda into FTX.

  • Classroom adoption of BTC and cryptocurrency courses is increasing, with Texas A&M being the latest US College to offer a Bitcoin course to some of its 74,000+ students.

COINGABBAR Views: If the current trend continues, the market will remain bullish. The bullish trend in the market has persisted for some time and appears to be continuing, as indicated by the current influx.

Also read: Is Solana Coin a Safe Investment After Its Rapid Price Hike?