In today’s crypto market, big cryptocurrencies like Bitcoin and Ethereum have seen increases in their value, even though there’s been significant inflation data.
Major cryptocurrencies like Bitcoin and Ethereum are showing signs of recovery, bouncing back a day after the U.S. Federal Reserve released its consumer price index (CPI) inflation data on September 13. Although the Fear and Greed Index, which measures market sentiment, is still in the “fear” zone with a reading of 36, the overall performance of digital currencies is looking positive.
Bitcoin’s price has gained momentum, rising by 1.50% to reach $26,273.31 in the last 24 hours. However, it’s important to note that Bitcoin is still trading below the $30,000 mark. Other major cryptocurrencies, including Ethereum (ETH), Binance Coin (BNB), XRP, Cardano (ADA), and Solana (SOL), are also experiencing positive movements.
At the time of writing, Ethereum’s price is up nearly 2%, reaching $1,621.21. Binance Coin has surged 1.13% to $212.18, while Cardano’s price has risen by 1.83% to $0.2486 compared to the previous day. Solana’s price has gained 6.18%, reaching $18.91, and Toncoin has jumped 7.04% to $1.91.
The meme crypto segment is also seeing some positive movement. Over the last 24 hours, Dogecoin’s price increased by 1.08% to $0.06136, and Shiba Inu’s price gained 1.44% to $0.000007279.
The recent performance of major cryptocurrencies suggests that crypto enthusiasts are regaining confidence, leading to a positive momentum in the overall market. The global cryptocurrency market cap has increased by 1.46% to reach $1.04 trillion at the time of writing, although the trading volume in the last 24 hours has decreased by 11.73% to $29.27 billion.
Investors are now keeping an eye on the release of initial jobless claims and producer price index (PPI) data, expected to be released later today.
Today’s Top Four Cryptocurrencies
1. Pepe Coin Rose 1.61%: Pepe Coin’s price increased by 1.61% to reach $0.0000006798 on Thursday. Its market cap also went up by 1.61% to $266.32 million, and the trading volume in the last 24 hours rose by 7.16% to $47.29 million. Pepe Coin, which is the third-largest meme coin, seems to be catching the attention of traders after facing challenges in recent days.
2. Hedera Went Up Over 10%: Hedera’s price surged by 10.56% in the past day, reaching $0.0523. Its market cap also saw gains of 11.20% at $1,736,737,924. Although there isn’t major news, Hedera recently mentioned on their X account that they would be presenting their Proof-of-Reserve solution at the TOKEN2049 event today.
3. THORChain (RUNE) Rose Over 8%: THORChain’s price was $1.61 at the time of writing, with an 8.20% increase in the last 24 hours. Its market cap grew by 8.12% to $543,695,664, and the 24-hour trading volume surged by 110.74% to $58,441,729. In a recent announcement on the X platform, THORChain stated that RUNE is now fully distributed.
4. Maker (MKR) Gained 5.05%: MKR cryptocurrency was among the top performers on September 14. At the time of writing, Maker’s price had risen by 5.05% to $1,177.64, and its market cap increased by 5.42% to $1,151,298,444. The crypto appears to be gaining attention after its participation in two significant crypto events, Korea Blockchain Week (September 4-10) and TOKEN2049 (September 13-14), where it discussed its “End Game” project.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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