Today’s trading in the top two cryptocurrencies resulted in losses. Ethereum’s price fell 5.75%, while Bitcoin’s dropped by 1.39%.
Today’s cryptocurrency price
At the time of writing, the prices of the major two cryptocurrencies, Bitcoin and Ethereum, were down 1.39% and 5.75%, respectively, as the crypto market saw losses today (Friday). After the Federal Reserve raised interest rates by 50 basis points, the market capitalization of all cryptocurrencies plummeted 1.03% to $852.30B, following the stock markets’ negative cues.
The entire volume of the cryptocurrency market for the previous 24 hours was $33.73B, a decline of 25.64%. Let’s examine the prices of Bitcoin, Ethereum, and other market influencers.
Price of Bitcoin Today, December 16
The value of bitcoin fell today by 1.39% to USD$17,491.18 having a USD$20,111,311,833 USD 24-hour transaction volume. The live market cap of the biggest cryptocurrency in the universe is USD$336,445,973,040.
The price of bitcoin appears to have fallen on Thursday and even now due to the growing selling pressure. It is predicted that bears would outperform bulls until Bitcoin rises beyond $18,000.
Price of Ethereum Today, December 16
Ethereum’s value was seen trading 5.75% down today, at USD $1,213.57, with a $6,695,959,575 24-hour transaction volume. Ethereum maintains its ranking as the second-largest cryptocurrency in the globe with a current market cap of USD$148,509,257,949.
According to price experts, Ethereum’s support and resistance levels are $1,150 and $1,350, respectively. This could bring buyers back into the market.
The Price of Shiba Inu today
The value of Shiba Inu is USD$0.000009, up 0.51%, having a USD$83,639,699 24-hour trading volume. Shiba Inu currently has a CoinMarketCap ranking of 16.
Prices for Polygon (MATIC) and Solana decreased today as well. While the price of Solana was seen trading 0.62% down at USD$14.03, the price of Polygon dropped 1.32% to USD$0.886166.
The prices of cryptocurrencies differ daily and remain volatile, you must stake what you can afford to lose when trading as the market is unpredictable.
Ken Emmanuel is a Blockchain Content writer, a Web3 Enthusiast and a Social Media Management Strategist, he likes writing educative contents to help people gain more knowledge and get inspired. The growth of any organization he work with is always his priority. He is a Geographer by profession and loves reading.