Bitcoin Continues To Be Above 18,000, Ethereum And Most Other Tokens Move Higher

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Bitcoin | The world’s largest and most popular virtual currency, Bitcoin, jumped three percent to $18,797.7. Its market value stood at $362. billion. The trade volume was at nearly $33.2 billion.

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Ethereum | The second largest virtual currency, Ethererum or Ether rose 0.3 percent to $1,407.1 at the last count, with a market capitalisation of $172.4 billion. The trade volume of Ethereum was almost $11.4 billion in the last 24 hours.

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“Approximately four months after the successful transition to a proof-of-stake network, Ethereum has achieved another significant milestone. Etherscan indicates that over 16 million ether (ETH) have been deposited into Ethereum’s Beacon Chain staking contract. This represents more than 13.28 percent of the total ether supply and is equivalent to nearly $22.38 billion at current prices. This milestone comes close to two years after Ethereum’s staking contract was launched in 2020 when the network’s proof-of-stake Beacon Chain was first implemented,” Edul Patel, CEO and co-founder of Mudrex highlighted.

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Patel added, “Validators, individuals who help maintain the Ethereum network, “stake” ETH for the opportunity to write and verify transactions on the blockchain’s ledger. The staked funds are locked with the network and earn interest but cannot be withdrawn until the Shanghai upgrade, which is not expected until around March 2023.”

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Dogecoin | Meme-based virtual currency, Dogecoin, rose 0.4 percent to $0.1. Its market value stood at $10.6 billion. The trade volume was at nearly $685.7 billion.

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Solana | Solana fell 1.1 percent to $16.4 with a market capitalisation of $6.1 billion. The trade volume of Solana was $807.8 billion in the last 24 hours.

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Shiba Inu | Shiba Inu fell 0.2 percent with a market capitalisation of almost $5.1 billion. The trade volume was almost $380.7 million in the last 24 hours.

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Polygon | Polygon rose 1.8 percent to $0.9 with a market capitalisation of $8 billion. The trade volume was $544.9 million in the last 24 hours.