Bitcoin, ether, dogecoin, other cryptocurrency prices surge today

Bitcoin, ether, dogecoin, other cryptocurrency prices surge today

Cryptocurrency prices today surged after sliding in the past few sessions in a retreat from its record high level. The world’s largest and most popular cryptocurrency was trading over 4% higher at $58,891. Bitcoin recently hit a record high of around $69,000 and is up over 103% this year (year-to-date or YTD) so far.

Bitcoin, currently $58,946, rose 3.64 percent over the last day. Ethereum also surged 6 percent to trade at $4,333, while Solana followed suit with an 11.68 percent rise, trading at $220. Memecoins DOGE and SHIB also jumped significantly, with a rise of 6 percent and 12 percent, respectively, on a 24-hour basis. 

On the DeFi front, a new report by risk management firm Elliptic revealed that DeFi users had lost almost $10.5 billion to theft and fraud this year and almost $12 billion over the last 2 years, with the majority of these transactions undertaken on Ethereum.

Ether, the coin linked to ethereum blockchain and the second-largest cryptocurrency, also declined more than 4% to $4,075. Ether price has been trading around an all-time high, catching up with bitcoin’s rally and riding on news of wider blockchain adoption.

“The bullish market for two weeks has suddenly seen corrections from three days. The event got triggered by Twitter CFO Mr. Ned commenting that it no more looks safe to continue investing in crypto. During bull markets, the prices increase and sometimes this adds instability till it finds the trigger and it seems that is what just happened. On the other side, the crypto markets are slowly growing big towards becoming immune from influencers,” said Sathvik Vishwanath, co-founder, and CEO of Unocoin.

Meanwhile, dogecoin price plunged over 5% to $0.22 whereas Shiba Inu also crashed 10% to $0.000043. The performance of other cryptocurrencies like Litecoin, XRP, Polkadot, Uniswap, Stellar, Cardano, Solana also were trading with cuts over the last 24 hours 

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