Crypto markets in green despite negative sentiments after US CPI data

Cryptocurrency markets are in green despite bearish sentiments in financial markets after the announcement of US CPI data. The US inflation rate is at 9.1 per cent. The global cryptocurrency market cap is at $900.28 billion as of 8:00 AM IST after rising 3.24 per cent, CoinMarketCap data showed.

Bitcoin is up 3.69 per cent, and is trading at $20,234. Ethereum rose by 5.38 per cent and is trading at $1,110.

The USDT Tether showed positive 0.01 per cent change in the last 24 hours in its value and is trading at $0.9994, whereas the USDC stablecoin showed 0.01 per cent downturn in its value and is trading at $1.0.

The BNB token has gone up by 3.68 per cent.

The BinanceUSD stablecoin is positioned as the sixth most valuable cryptocurrency. It showed 0.20 per cent negative change and is trading at $0.9993.

XRP Ripple token is 2.98 per cent up from its value in the last 24 hours, while the ADA token showed a recovery of 2.97 per cent in the last 24 hours.

Solana recovered by 5.33 per cent.

The memecoin Doge settled as the tenth most valuable token and is up 1.59 per cent.

The first ever stablecoin, DAI, is trading at its peg of $1 and showed 0.01 per cent positive change in its value.

The DOT token of the Polkadot network showed 1.53 per cent uptrend in the last 24 hours.

TRON witnessed a 1.51 per cent uptrend while the popular memecoin Shiba Inu rose 4.48 per cent.

Avalanche’s AVAX was trading at the fifteenth spot with a whooping 9.93 per cent uptrend.

Overall, majority top crypto tokens have witnessed recovery over the last 24 hours.

The top gainers of the last 24 hours:

The top losers over the last 24 hours:

• MetaDoctor – -80.00%

• Bitcoin God – -54.87%

• SB Group – -43.28%

• Pi Finance – -42.59%

• Coupon Bay – -41.76%

Also Read: Will 1% TDS affect crypto trading volumes? Further dip likely, suggest exchanges  – BusinessToday

Also Read: All you need to know about TDS on cryptos in 5 points     – BusinessToday