Bitcoin (BTC) surged above $30,000 on April 11, reaching its highest level since June 2022.
At the time of writing, BTC was trading at $30,073 while its market cap reached $581.7 billion. crypto slate data. Bitcoin is up 6% over the past 24 hours and is up 7.41% over the past week.
Bitcoin’s rise has supported the entire cryptocurrency market — the global cryptocurrency market cap has risen by more than 4% in the past 24 hours to $1.24 trillion. The total trading volume of the crypto market reached $47.26 billion.
Ethereum (ETH), the second largest cryptocurrency, is up 3.1% over the past day and is trading at $1,917 at the time of publication. ETH had a market cap of $230.9 billion. Ethereum last reached $2,000 in August 2022.
This gain comes ahead of the Shanghai upgrade scheduled for April 12th. This upgrade will unlock his 18 million stake ETH worth about $34 billion. Unlocking creates selling pressure on ETH, which is expected to negatively affect the price of ETH.
Bitcoin and Ethereum are up more than 81% and 60%, respectively, year-to-date, following a one-day rally.
Solana (SOL) hit an all-time high, rising 9.66% to $22.22 on the past day at the time of writing. BNB (BNB), Cardano (ADA) and XRP (XRP) prices have increased by more than 4% in the last 24 hours. BNB rose 4.66% to $327.49 while XRP price rose 4% to $0.52. Cardano price has increased by 4.32% to $0.40 at the time of writing.
Dogecoin (DOGE) and Polygon (MATIC) posted slight gains of 1.65% and 2.66% respectively on the previous day.
The rise in cryptocurrency prices comes as investors wait for major inflation data to be released later this week. Traders are hoping the Fed’s rate hikes will be put on hold, which could push cryptocurrency prices higher.
An article about Bitcoin surpassing $30,000 and Ethereum approaching $2,000 first appeared on CryptoSlate.
