Cryptocurrency prices have risen today, as the price of the largest and most popular digital token in the world, Bitcoin, was trading more than 4% higher today and amounted to $ 1018. On the other hand, Ether, the ethereum blockchain-related chain and the second largest cryptocurrency, also grew by more than 7% to $1,272.
“Bitcoin is up about 4% on Tuesday compared to the previous day. BTC started the week with a low of $16,054 and has risen above the $16,900 level in the last 24 hours. This surge has led to a rise in BTC from about $16,200, which has been in play for the past two weeks. If the price strengthens in the upward direction, we may see more bulls enter the market and push BTC above the $17,000 level soon. The second largest cryptocurrency, Ethereum, also rose, trading above the $1,270 level. Bulls can probably climb above the $1,300 level today," said Edul Patel, CEO and co-founder of Modrex.
The capitalization of the global cryptocurrency market today remained below the $ 1 trillion mark, despite the fact that over the past 24 hours it has grown to $ 895 billion, according to CoinGecko.
Meanwhile, the dogecoin price was trading more than 6% higher today at $0.10, while Shiba Inu rose more than 2% to $0.000009. Today's price indicators for other cryptocurrencies have also improved, as the prices of Binance USD, Avalanche, Tether, Terra, Stellar, Polkadot, Solana, Uniswap, ApeCoin, Tron, Polygon, XRP, Cardano, Chainlink, Litecoin have been trading with an increase over the past 24 hours.
American cryptocurrency brokerage Genesis said it is seeking to avoid bankruptcy after Bloomberg news reported on Tuesday that the firm's creditors are teaming up with restructuring lawyers to prevent insolvency.
The crypto-lending division of the American digital asset broker Genesis Trading suspended payments to customers earlier this month, citing a sudden FTX failure, where about $175 million is blocked in its derivative business, the company said. The company warned potential investors that it might have to file for bankruptcy if its efforts to raise funds failed, and stopped payments shortly after it became known on November 10 that $175 million was blocked in the FTX trading account.
Cryptocurrency prices have remained under pressure this month following the collapse of Sam Bankman-Fried's FTX empire. Now investors are watching other crypto companies to see how far the contagion can spread.