Home/ Markets / Cryptocurrency/  Cryptocurrency prices today rally as Bitcoin, ether surge over 5% each

Cryptocurrency prices today rose as Bitcoin, the world's largest and most popular cryptocurrency, was trading more than 5% higher at $19,736. The global crypto market cap today was nearing the $1 trillion mark, as it was up over 3% in the last 24 hours at $999 billion, as per CoinGecko. 

On the other hand, Ether, the coin linked to the ethereum blockchain and the second largest cryptocurrency, also gained more than 5% at $1,368. Meanwhile, dogecoin price today rose marginally to $0.06 whereas Shiba Inu gained nearly 2% to $0.000011.

“Most cryptocurrencies rose on Monday in counter to the equity markets. After dipping in the past week, Bitcoin and Ethereum rose by nearly 5% each. As buyers could fix the BTC initiative above the US$19,000 level, the next resistance would be at $20,600. On the other hand, Ethereum also regained its psychological support at $1,300. The supply of the token has increased by 8,400 ETH as it transitioned from PoW to PoS. We might likely see a mid-term growth if the price of Ethereum returns to the $1,380-$1,400 level," said Edul Patel, CEO and co-founder of Mudrex, a global crypto investing platform.

Other crypto prices' today performance also improved as Solana, Polygon, Avalanche, Binance USD, Polkadot, Litecoin, Cardano, Chainlink, Tron, Tether prices were trading with gains over the last 24 hours, however, XRP, Stellar, ApeCoin slipped. Terra and Terra Luna Classic rallied more than 24% and 48% respectively, as per CoinGecko.

South Korea said Interpol requested law enforcement worldwide to locate and arrest Terraform Labs co-founder Do Kwon, who faces charges related to the $60 billion wipeout of cryptocurrencies he created, reported Bloomberg. South Korean officials have accused Kwon and five others of crimes including breaches of capital-markets law. Kwon earlier this year moved from South Korea to Singapore, where his now collapsed Terraform Labs had a base, but his location became unclear after the city-state on Sept. 17 said he’s no longer there.

Terraform Labs was behind the TerraUSD algorithmic stablecoin and its sister token Luna. Both coins imploded in May and sparked huge losses in crypto markets, which were already reeling from tightening monetary policy.

(With inputs from agencies)

Know your inner investor Do you have the nerves of steel or do you get insomniac over your investments? Let’s define your investment approach.
Take the test
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Updated: 27 Sep 2022, 08:02 AM IST
Recommended For You

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started
Get alerts on WhatsApp
Set Preferences My Reads Watchlist Feedback Redeem a Gift Card Logout