Major cryptocurrencies extended gains on Thursday mirroring largely positive trends in global equities. The global crypto market cap stood at $974 billion with a volume of $72.4 billion in the past 24 hours.
Bitcoin — the world's largest and most popular virtual currency — rebounded from low levels and climbed above $19,000. Bitcoin rose 3.3 percent to $19,242.3. Its market value stood at $368.1 billion. The trade volume was at $47.1 billion.
Edul Patel, CEO and co-founder of Mudrex, said, "If BTC can hold above the current level today, we might see BTC move towards its resistance level at $19,400 soon."
Ethererum or Ether — the second largest virtual currency — jumped 8.9 percent to $1,631.9 with a market capitalisation of $198.5 billion. The trade volume of Ethereum was $18.7 billion in the last 24 hours.
On Ethereum, Patel said, "Ethereum has outperformed BTC by gaining nearly nine percent over the past 24 hours. ETH successfully broke above its initial resistance level at $1,537 and may soon break above its next resistance at $1,650 as the excitement around the Merge gains momentum."
Meme-based virtual currency Dogecoin was 5.4 percent up with a trading volume of $302.8 million. Shiba Inu was trading 3.5 percent higher while Solana was trading 6.7 percent higher at $32.6 billion.
On domestic front, the Indian equity benchmarks —
BSE Sensex and
NSE Nifty50 — opened higher on Thursday tracing gains across global counterparts.
First Published: Sept 8, 2022 8:23 AM IST
