Prices of almost all major cryptocurrencies are trading in green on Wednesday, raising the sentiment of crypto investors ahead of the US Federal Reserve’s interest rate announcement. The global cryptocurrency market capitalization rose 2.48 percent to $2.01 trillion, but its trading volume was down 13.82 percent at $88.34 billion, according to Coinmarketcap data. This lower volume may be an indication that investors are reluctant to sell their holdings at the current price and expect prices to rise further.
Meanwhile, Binance, the world’s largest crypto exchange by volume, became the official sponsor of the 2021 Africa Cup of Nations. The Africa Cup of Nations stands for the Africa Cup of Nations and is the largest international men’s football competition in Africa.
The world’s oldest cryptocurrency, Bitcoin (BTC), is up 0.93 percent at $4,2561.72, according to Coinmarketcap data at 8.33 a.m.
“Bitcoin touched $4,3106 yesterday, as the US market halted its five-day losing streak ahead of the Consumer Price Index (CPI) data released today. Bitcoin has seen high levels of volatility, following the release of CPI data, over the past two months, Says Gaurav Dahake, CEO of Bitbns.
Ethereum investors rejoiced as its price rose 3.8 percent to $3,229.52. Its volume to market capitalization ratio is 0.03897.
Cardano (ADA), which recently partnered with Samsung to plant 2 million mangroves in Madagascar, announced on Twitter that it has already planted 1 million trees and all records will be available on its blockchain for greater transparency. CEO Frederic Griegard said their next tree planting and land restoration project will be in Mombasa, Kenya. Cardano investors reacted to this positive development and the price increased by 3.9 percent to $1.19.
Algorand (ALGO), known as the Ethereum killer, rose 1.11 percent at $1.44; Its market value is now $9,337,061,809. Among other major coins, Binance Coin (BNB) rose 7.05 percent to $459.05. Solana (SOL) stock rose 2.7 percent at $140.71.
The biggest gainer today is Shiba Hunter (SHUNT), up 2005.34 percent at $0.000000000765. The biggest loser is Y-5 FINANCE (Y-5), which fell 100 percent to $0.00000003016.
Meme and DeFi coins
Dogecoin (DOGE) was up 5.1 percent at $0.1526. Its volume to market capitalization ratio is 0.08153.
Shares of competitor Shiba Inu rose 2.54 percent to $0.0002769. ELON is trading with a gain of 1.17 percent at $0.000001218, Floki Inu is trading up 3.35 percent at $0.0006847, while Samoyed Coin (SAMO) is trading with a loss of 2.28 percent at $0.02963.
In the DeFi sector, YFI (yearn.finance) is trading up 2.56 percent at $33,007.59, Terra (LUNA) is up 1.42 percent at $73.07, Avalanche (AVAX) is up 4.15 percent at $89.45, Uniswap (UNI) ) was up 4.74 percent at $16.13 while Aave (AAVE) stock was up 5.94 percent at $217.44.
Renowned billionaire investor Bill Miller, famous for achieving returns above the S&P 500 for 15 years (1991-2005), revealed in an interview that his personal investment in Bitcoin represents about 50 percent of his assets, according to Coindesk.
Meanwhile, USDC, a cryptocurrency stablecoin whose value is pegged to the US dollar, reached an all-time high of $620 million on the Tron Blockchain, on Twitter Tron Dao.