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Cryptocurrency prices today surged with Bitcoin trading above the $30,000 mark. The world's largest and most popular cryptocurrency surged more than 4% and was trading at $30,220. However, the token is down 34% so far this year, and trading far below the peak of $69,000 it hit in November 2021.

On the other hand, Ether, the coin linked to the ethereum blockchain and the second largest cryptocurrency, jumped more than 6% to $1,873. Meanwhile, dogecoin price today was trading 5% higher at $0.08 whereas Shiba Inu also was up over 10% to $0.000012. The global cryptocurrency market cap today is $1.31 trillion, up over 5% change in the last 24 hours.

Other digital tokens' performance also improved as Solana, Cardano, Avalanche, Polygon, Stellar, Uniswap, Polkadot, XRP, Litecoin, Tron prices were trading with gains over the last 24 hours. Terra Luna's new coin rallied more than 37%, as per Coingecko.

Bitcoin led a decline in digital assets across the whole crypto spectrum, with the world’s largest token set for an eighth straight weekly loss in its longest such slump since August 2011.

Cryptocurrencies have been swept up in a sell-off this year in risk assets, which has picked up steam as data showed US inflation running hot, deepening investor fears about the economic impact of aggressive central bank tightening. The downturn in the crypto market which started in April has wiped billions of dollars in market value within a month.

(With inputs from agencies)

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