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Cryptocurrencies rose for the second day as US tech stocks also posted an advance and investors got more clarity on the bankruptcy of a major digital-assets lender. Bitcoin price today was trading at $20,474, up more than a per cent. The world's largest token has struggled since hitting a high near $69,000 in November and has been rangebound close to $20,000 for about a month.

The global cryptocurrency market cap today was below the $1 trillion mark, even as it was up more than 3% in the last 24 hours to $972 billion, as per CoinGecko.

“The crypto market has observed a slight correction alongside the US stocks. After bulls pushing the coin up, Bitcoin has bounced off the US$20,000 mark. If buyers can hold BTC at the current level, we might see it testing the US$21,000 level soon. The second largest cryptocurrency, Ethereum witnessed a rise of nearly 10% outperforming BTC after its Shadow Fork 9 went live in lead up to the merge on yesterday," said Edul Patel, CEO and co-founder of Mudrex.

On the other hand, Ether, the coin linked to the ethereum blockchain and the second largest cryptocurrency, rose more than 7% to $1,194. Meanwhile, dogecoin price today was trading nearly 2% higher at $0.06 whereas Shiba Inu rose marginally to $0.000010.

Other crypto prices' today performance also improved as XRP, Solana, BNB, Litecoin, Stellar, Chainlink, Tron, Apecoin, Avalanche, Polkadot, Polygon, Uniswap (up as much as 15%), Tether prices were trading with gains over the last 24 hours.

Celsius Network listed a $1.19 billion deficit on its balance sheet in a bankruptcy court filing on Thursday, a day after the cryptocurrency lender filed for Chapter 11. New Jersey-based Celsius froze withdrawals last month, citing "extreme" market conditions, cutting off access to savings for individual investors and sending tremors through the crypto market.

Another U.S. crypto lender, Voyager Digital Ltd, filed for bankruptcy this month after suspending withdrawals and deposits. Singapore's Vauld, a smaller lender, also froze withdrawals this month. Cryptocurrency trading volumes have plummeted amid a dreadful first half of the year for the industry.

(With inputs from agencies)

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