Ethereum is close to $1,600, Bitcoin approaches $26,000, while Toncoin is up 9%
The price of Bitcoin increased by roughly 0.5 percent, flirting with $26,000 levels, while Ethereum increased little but continued to trade below the $1,600 barrier. On Friday, the digital asset market was still reeling from the negative effects of Binance and FTX, making it difficult for Bitcoin and other crypto tokens to maintain gains. The majority of the tokens were, nevertheless, gradually increasing. The news of prospective sales and layoffs is putting pressure on digital markets, and traders are on edge in anticipation of US economic data that is due later today. In a joint policy paper on cryptocurrencies, the IMF and FSB cautioned governments against adopting broad bans to reduce the dangers posed by the industry and suggested targeted limitations and prudent monetary policy instead. Targeted limits could be useful, especially for emerging economies The largest cryptocurrency token, which surged by roughly 5% and was flirting with $26,000 levels, helped Bitcoin achieve modest gains. Ethereum, its biggest rival, also climbed a little bit but is still below the $1,600 threshold. The morning's price movement in the cryptocurrencies was still good. The fact that Bitcoin traded above $25,900 may be an indication of increased market interest in the race for a Bitcoin Spot ETF. An application that was recently submitted to the US SEC by renowned asset management company Franklin Templeton may have boosted market sentiment. Additionally, yesterday saw a record-breaking increase in the number of wallets holding 0.1 bitcoin, reaching a total of 12 million, demonstrating a rising level of confidence among market players in Bitcoin. Ethereum has been trading at about $1600 at the moment. With a few exceptions, Wednesday saw higher trade for all of the leading crypto tokens. Tron increased by roughly 3%, while Toncoin increased by more than 9%. Solana, Polkadot, and Dogecoin lost roughly 1% each and were among the losers. Cardano too experienced a 5% decline. The market capitalization of all cryptocurrencies was trading marginally higher, hitting the $1.03 trillion level after increasing by roughly a third in the previous day. The entire trade volume, however, fell by as much as 12% to $32.09 billion.
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