On the other hand, Ether, the coin linked to the ethereum blockchain and the second largest cryptocurrency, was also trading marginally higher at $1,195. Meanwhile, dogecoin price today was trading about a per cent lower at $0.06 whereas Shiba Inu gained was down at $0.000008.

Other crypto prices’ today performance were mixed as Tether, Stellar, XRP, Cardano, Litecoin, Polkadot, Uniswap, Solana, ApeCoin, Chainlink prices were trading with gains over the last 24 hours, whereas XRP, Solana, Avalance, Polygon, Tron were trading with cuts. 

Digital assets suffered mightily last year as the Federal Reserve and other major central banks around the world have raised interest rates to fight historic inflation, buffeted by everything from the Fed’s policy tightening to the implosions of the Terra/Luna ecosystem, hedge funds Three Arrows Capital and exchange FTX.

2022 was termed as the winter season in terms of cryptocurrencies, as the high-profile collapses of Terra/Luna and FTX sent shockwaves across the industry and liquidated more than $2 trillion from the total crypto market cap all-time high from November 2021.

Bitcoin lost more than 60% in 2022, its second-worst annual performance on record, and only its third down year ever. Other cryptocurrencies also suffered, with Ether losing near 70%, and an index of the 100 largest coins dropping roughly 65%.

Last week, MicroStrategy Inc., the enterprise-software firm better known in recent years as the largest corporate buyer of Bitcoin, announced a series of transactions including its first ever sale of the token, however, remains a net buyer. All in, MicroStrategy held about 132,500 Bitcoin worth more than $4 billion as of December 27, 2022, as per Bloomberg.

(With inputs from agencies)

On the other hand, Ether, the coin linked to the ethereum blockchain and the second largest cryptocurrency, was up about a per cent at $1,198. Meanwhile, dogecoin price today was trading at $0.07 whereas Shiba Inu gained more than 2% at $0.000008.

Other crypto prices’ today performance were mixed as Tether, Stellar, XRP, Cardano, Litecoin, Polkadot, Uniswap, Solana, ApeCoin prices were trading with gains over the last 24 hours, whereas Avalanche, Chainlink, Polygon, Tron were trading with cuts.

MicroStrategy Inc., the enterprise-software firm better known in recent years as the largest corporate buyer of Bitcoin, announced a series of transactions including its first ever sale of the token, however, remains a net buyer. MicroStrategy had over the pandemic years become well known for its Bitcoin acquisitions. All in, MicroStrategy held about 132,500 Bitcoin worth more than $4 billion as of December 27, 2022, as per Bloomberg.

Digital assets have suffered mightily this year as the Federal Reserve and other major central banks around the world have raised interest rates to fight historic inflation, buffeted by everything from the Fed’s policy tightening to the implosions of the Terra/Luna ecosystem, hedge funds Three Arrows Capital and exchange FTX.

This year was termed as the winter season in terms of cryptocurrencies, as the high-profile collapses of Terra/Luna and FTX sent shockwaves across the industry and liquidated more than $2 trillion from the total crypto market cap all-time high from November 2021.

(With inputs from agencies)

On the other hand, Ether, the coin linked to the ethereum blockchain and the second largest cryptocurrency, was almost flat at $1,220. Meanwhile, dogecoin price today was trading over a at $0.07 whereas Shiba Inu was down at $0.000008.

“The price of Bitcoin remained below the $17,000 mark over the weekend. In the past few days, Bitcoin has faced resistance on both sides, indicating a lack of consensus among market participants. If Bitcoin can close above the $16,900 level, it may resume its previous upward trend. Meanwhile, Ethereum has been relatively stagnant over the weekend, lacking the momentum for a significant price shift. It is currently trading in a narrow range without any clear bullish or bearish signals. If the price moves above the support level of $1,230, it could potentially see an upward trend,” said Edul Patel, CEO and Co-founder of Mudrex.

Other crypto prices’ today performance such as Binance USD, Avalanche, Tether, Terra, Solana, Polygon, Stellar, XRP, Cardano, Litecoin, Polkadot, Chainlink, ApeCoin, Tron, Solana, Uniswap prices were also flat over the last 24 hours.

Cryptocurrencies have had a harsh 2022 after reaching record highs late last year, buffeted by everything from the Fed’s policy tightening to the implosions of the Terra/Luna ecosystem, hedge funds Three Arrows Capital and exchange FTX. Digital assets have suffered mightily this year as the Federal Reserve and other major central banks around the world have raised interest rates to fight historic inflation.

The collapse of FTX last month was the most shocking in a series of closures of key market players this year including Celsius and Voyager, major tokens terraUSD and Luna that have shaken investment sentiment.

(With inputs from agencies)

The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

“Bitcoin continues to struggle below the $20,000 price level as sellers have become more active in the past week. BTC is currently trading nearly 71% lower from its all-time high. Bulls might attempt to recapture the US$20,000 price level if BTC can trade above the overhead resistance level. If BTC keeps facing continued rejections, it might dip to the US$18,000 support level. Overall, a bearish trend persists in the crypto market, and we might see a correction in the coming weeks,” said Edul Patel, CEO and Co-founder of Mudrex, a global crypto investment platform.

On the other hand, Ether, the coin linked to the ethereum blockchain and the second largest cryptocurrency, also gained over a per cent to $1,575. Ethereum is transitioning to proof-of-stake for its consensus protocol. Called the ‘merge’, the software upgrade has been in the works for years, and it will change the way ethereum orders transactions to become more energy efficient.

Meanwhile, dogecoin price today was also trading nearly a per cent higher at $0.06 whereas Shiba Inu fell gained more than 3% to $0.000013. Other crypto prices’ today performance also improved as Chainlink, Apecoin, XRP, Uniswap, Binance USD, Tron, Polkadot, Tether, Litecoin, Stellar, Avalance, Solana, Polygon prices were trading with slight gains over the last 24 hours.

Crypto prices have struggled and Bitcoin has traded largely in the same direction as other risk assets like the Nasdaq 100 as the Fed boosts interest rates amid stubborn inflation. Meltdowns like those of the Terra/Luna ecosystem and hedge fund Three Arrows Capital have depressed sentiment as well, and numerous crypto firms have declared bankruptcy or are struggling to survive.

(With inputs from agencies)

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