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May 03,2023

Other tokens advance while Bitcoin and Ethereum rise by 2%

On Wednesday, cryptocurrencies increased. The market value of all cryptocurrencies was $1.17 trillion, with $35.4 billion worth of transactions over the previous day. "The top gainers on WazirX over the last 24 hours have been Komodo (KMD) and Stacks (STX),"

Bitcoin

The biggest and most well-known virtual currency in the world, Bitcoin, increased 1.7 percent to $28,492.6. It was valued at $550.5 billion in the market. There were $16.5 billion worth of transactions.

According to data, there were 9.6 million job opportunities in the US in March, which was below the predicted 9.775 million and the lowest number since April 2021. Investors might have thought that the markets would benefit from the negative employment report. Following the release of the data, Bitcoin, which had fallen to a six-day low of $27,600, immediately rose to $28,500. Before the US Federal Reserve makes its decision regarding a potential interest rate hike, investors and traders might also be opening new positions.

Ethereum

Ethererum is the second-largest virtual currency, increased 1.8 percent to $1,862.2 and has a market value of around $223.8 billion. In the previous day, Ethereum trades were worth $7.4 billion.

Following the recent failure of four US banks, worries about continued banking instability drove up the price of cryptocurrencies. Due to the failure of two banks, PACW and WAL, this occurred. The bankruptcy of four U.S. banks and the dismal employment statistics may potentially be advantageous for digital assets, with ETH surging.

Dogecoin

A virtual currency based on memes, decreased 0.2% on Wednesday. It was valued at $10.9 billion on the market. There were $235.8 million worth of transactions.

Solana

Solana increased 0.1 percent to $21.9 and now has a $8.6 billion market cap. In the previous 24 hours, Solana saw $313.7 million in trading.

Shiba Inu

Shiba Inu gained 0.6 percent and now has a $5.9 billion market cap. In the previous 24 hours, there were $96.5 million in trades.

Polygon

Polygon increased 1% to $1 and now has a $8.9 billion market worth. In the previous 24 hours, there were $349.3 million in trades.