Bitcoin, ether, other crypto prices today fall while Uniswap, Polkadot gain

The value of bitcoin peaked at nearly $69,000 in November 2021 before falling to around $17,000 by mid-June 2022, where it is still hovering now.

On the other hand, Ether, the coin linked to the ethereum blockchain and the second largest cryptocurrency, also fell by nearly a per cent to $1,273. Meanwhile, dogecoin price today was trading more than 5% lower at $0.09 whereas Shiba Inu was down over a per cent at $0.000009.

“Bitcoin traded sideways in the past 24 hours as the market reacted to the Fed’s policies. After collapsing in mid-November, BTC’s price is now back to the $17,000 level. However, BTC is trading below its annual minimum peak of $17,500 in June. If bulls can move above the $17,500 holding on to it, we could see BTC at the $18,000 level soon. On the other hand, Ethereum was seen changing hands above the $1,270 level. The next target for ETH bulls would be at the $1,350 level,” said Edul Patel, CEO and Co-founder, Mudrex.

Other crypto prices’ today performance were mixed as Binance USD, Avalanche, Tether, Terra, Solana, Tron, Polygon, ApeCoin, Litecoin, Stellar, XRP, Cardano prices were trading with cuts over the last 24 hours whereas Uniswap, Polkadot, Chainlink gained.

A leading US financial regulator has urged lawmakers to act quickly to install a regulatory framework for digital assets following the spectacular collapse of cryptocurrency exchange FTX, reported Bloomberg.

FTX filed for bankruptcy and Bankman-Fried stepped down as chief executive on November 11, 2022, days after traders pulled $6 billion from the platform and rival exchange Binance abandoned a rescue deal. 

Crypto lender BlockFi Inc. filed for bankruptcy this week, while brokerage Genesis is seeking to avoid a similar fate. But industry defenders such as Changpeng  Zhao, the founder of the world’s largest crypto exchange Binance Holdings Ltd, have said this isn’t the end.

(With inputs from agencies)