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Apr 27,2023

Bitcoin stays above $28,000 as Ethereum gains around 2%

The market capitalization of all cryptocurrencies was $1.18 trillion, with a volume of $40.60 billion over the previous day. "On WazirX, Siacoin (SC) and Push Protocol (PUSH) have seen the most gains over the last 24 hours.

Bitcoin

The biggest and most well-known virtual currency in the world, Bitcoin, increased by over 3.6 percent to $28,317. It had a $548.88 billion market value. The value of the trade was $18.30 billion.

Concerns about banking stability are raised after Bitcoin breaks the $28,000 mark after a 5-day fall driven by First Republic Bank's $100 billion deposit loss. Cryptocurrencies increase amid regional banks collapses, and the liquidation of $11.3 million worth of Bitcoin short positions results in short squeezes. At $1,870, ether is steady, up 1.8% from the previous day.

Bitcoin has exceeded the US$28,000 mark in the last 24 hours as investors have reacted favourably to Alphabet and Microsoft's relatively upbeat Q1 earnings release. Additionally, after First Republic Bank disclosed a loss of $100 billion in deposits at their Q1 financial presentation on Monday, fears about the soundness of the banking system may also be to blame for the rise in Bitcoin's value.

Ethereum

Ethererum the second-largest virtual currency, increased by around 1.9 percent to roughly $1,866.57 and a market capitalization of $218.62 billion. In the previous day, $9.08 billion worth of Ethereum was traded.

Dogecoin

A virtual currency based on memes, gained 1.85% on Wednesday. It was valued at $11.12 billion in the market. A total of $360.07 million was traded.

Solana

Solana increased by 3.9 percent to $21.9 and now has a $8.56 billion market value. $363.66 million worth of Solana's shares were traded in the previous day.

Shiba Inu

Shiba Inu increased by over 1.9 percent and now has a market value of $6.11 billion. In the previous 24 hours, there were $123.28 million in transactions.

Polygon

Polygon increased 2.7 percent to $0.999 and now has a $9.23 billion market cap. In the previous 24 hours, there were $473.49 million in trades.