The market value of the cryptocurrency market increased during early trading on Friday morning by 1.36% to reach $2.22 trillion, with a trading volume of about $87.78 billion in the last 24 hours.
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Bitcoin began to rise after the rise in US bond yields and the decline of the dollar, in a new attempt by investors to take advantage of high-risk assets, amid a global trend from central banks towards tightening monetary policies and reducing stimulus packages in the face of inflation, and recorded $ 47,278.54 compared to $ 29 thousand in January of year 2021.
The cryptocurrency was able to impose itself on the global markets and became more widely traded and widespread to the extent that it has turned into a currency to pay the salaries of many employees at the present time.
During 2021, the crypto market was exposed to many obstacles, most notably the Chinese emphasis on mining operations, Indian pressures, as well as the US infrastructure law.
It also received some support from American billionaire Elon Musk, who allowed the purchase of Tesla cars through Bitcoin, as well as the Governor of New York State who requested that he receive his salary in Bitcoin, in addition to a World Bank report that hinted at the need to legalize cryptocurrency markets and not ignore them.
Cryptocurrency rates today
The price of the digital currency Bitcoin BTC rose by 1.10% to reach $47278.54.
The price of Ethereum (ETH) rose 1.58% to $3,733.41.
The price of the Binance coin BNB decreased by 0.19% to reach $514.88.
The price of the cardano ADA coin increased by 0.55% to record $1.33.
XRP jumped 1.01% to $0.8363.
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The price of the Polkadot DOT coin also increased by 0.10% to $26.88.
DOGE (Dogecoin) rose 0.64% to $0.171.
The price of the Litecoin (LTC) currency jumped 1.61% to reach $148.37.
The Chainlink LINK coin advanced by 2.34% to $19.99.
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