Bitcoin, ether, dogecoin, other cryptocurrencies are down today. Check the latest rates

Bitcoin price today surged above $21,000 even as the world’s largest and most popular digital token traded with nearly one percent cuts to $21,102. It broke the level on Saturday, for the first time since Nov. 8, 2022. Bitcoin price was stuck in a tight range of $16,000 to $17,000 for weeks before the latest breakout. The global cryptocurrency market cap today rose nearly unchanged in the past 24 hours to $1.02 trillion, according to data from CoinGecko.

“BTC is currently trading around the $21,000 handle, remaining relatively stable over the past 24 hours. It has posted a significant 25% increase already this year, with most of the gains coming since last Tuesday when it hovered around $17,400. This surge is likely driven by renewed investor confidence in the US central bank’s ability to control inflation without hurting the economy. Ether, following a similar pattern to Bitcoin, also saw an increase in value, hitting a two-month high before easing slightly. On the other hand, MANA, the native token of the Decentraland 3D virtual reality platform, is up more than 16%,” said Mudrex CEO and co-founder, Edul Patel.

Ether, the coin tied to the ethereum blockchain and the second largest cryptocurrency, also slipped slightly to $1,562. Meanwhile, the price of dogecoin today also traded more than 4% lower to $0.08, while Shiba Inu is down more than 3% to $0.0000010.

Other cryptocurrency prices today’s performance was also slightly down as Tether, Stellar, XRP, Polkadot, Chainlink, XRP, Solana, Avalance, Polygon, Apecoin, Tron, Solana, Litecoin, Uniswap prices traded with slight declines in last 24 hours.

Binance, the operator of the world’s largest cryptocurrency exchange, will allow institutional investors to keep collateral for leveraged positions off-platform, a move to ease concerns caused by the collapse of former rival FTX.

The company said such firms will instead have the option to send collateral to Binance Custody, which will keep the assets in so-called cold storage, or wallets that are not connected to the internet. After the negotiations have been settled, the resources would then be unlocked and accessible to the user again.

(With contributions from agencies)

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