Cryptocurrency Prices Today 8 July2022: There is an increase in the cryptocurrency market today. Bitcoin is trading above $22000. During the last 24 hours, the world’s largest and popular cryptocurrency, bitcoin, was seen trading up 2 percent at $21,997. The market cap of the cryptocurrency market remained below 1 trillion.
This year’s decline in bitcoin prices
The price of bitcoin has fallen 54 percent this year. Bitcoin touched an all-time high of $69,900 in November 2021 but has since continued to decline. The effect of the Federal Reserve raising interest rates and inflation in the US is visible on the crypto market.
Ether and Dogecoin
Ether, on the other hand, the cryptocurrency tied to the Ethereum blockchain climbed more than 2 percent to $1,252. It is at its lowest level of 15 months. It is the second largest cryptocurrency in the world. Meanwhile, dogecoin rose 2 percent today and was seen at $0.07. Whereas, the Shiba Inu saw a rise of 7 percent and was seen trading at $0.0000011.
There was a boom in the cryptocurrency market
XRP, Solana, BNB, Litecoin, Stellar, Chainlink, Tron, Uniswap, Tether. Polygon, Apecoin, Avalanche, Polkadot were bullish. In the last 24 hours, they saw an increase of 2 to 10 percent.
Below $1 Trillion Market Cap
The market cap of the global cryptocurrency market was up 5.53 per cent in the last 24 hours. The global cryptocurrency market has a market cap of $973 billion. It has been below $1 trillion several times in the past month. The market cap of the global crypto market was at its peak i.e. $2.9 trillion in November 2021 but this year it continues to decline.