SUMMARY
Cryptocurrencies gained on Wednesday ahead of the FOMC rate decision. Bitcoin traded above $28,000-mark. The global crypto market cap stood at $1.18 trillion, with a volume of $67.2 billion in the past 24 hours.
1 / 7Bitcoin | The world’s largest and most popular virtual currency, Bitcoin, rose 1.4 percent to $28,176.4. Its market value stood at $546.6 billion. The trade volume was at nearly $35.6 billion.
2 / 7“Bitcoin surged to the $28,000 threshold, ahead of the US FOMC meeting, which would determine whether to raise interest rates again. Many investors and traders expect interest rates to rise at a slower pace of 25 basis points. This follows the announcement by the U.S. that it will consider ways to secure client deposits at struggling banks in the wake of a recent crisis. The FED’s decision is expected to result in some market volatility,” says Edul Patel of Mudrex.
3 / 7Ethereum | The second largest virtual currency, Ethererum or Ether jumped 5.7 percent to $1,800.8 at the last count, with a market capitalisation of nearly $221.3 billion. The trade volume of Ethereum was almost $10.8 billion in the last 24 hours.
4 / 7Dogecoin | Meme-based virtual currency, Dogecoin, jumped 5.8 percent to $0.1. Its market value stood at $10.1 billion. The trade volume was at nearly $664.4 billion.
5 / 7Solana | Solana fell 0.6 percent to $22.3 with a market capitalisation of $8.6 billion. The trade volume of Solana was $697.6 million in the last 24 hours.
6 / 7Shiba Inu | Shiba Inu rose 3.5 percent with a market capitalisation of almost $6.5 billion. The trade volume was almost $334.3 million in the last 24 hours.
7 / 7Polygon | Polygon gained 3.2 percent with a market capitalisation of $10.1 billion. The trade volume was $543 million in the last 24 hours.