The Fed’s decision to cut interest rates by 0.5% has bode well for the global crypto market. Following the recently concluded FOMC meeting, the broader crypto market exhibited a rally that has shot the prices of cryptocurrencies to significant levels. Bitcoin surged above $62k and Ethereum finally crossed the crucial $2,400 mark.
This outcome was reflected in the total crypto market valuation as it surged by 3% to rest at $2.14 trillion according to on-chain data. Moreover, investors’ sentiment in the market has crawled from ‘fear’ to reaching ‘neutral’ today according to the crypto fear and greed index. Alternative data shows that this metric now points to ’49,’ a 4-point jump from yesterday’s ’45.’ Below is an overview of the top cryptocurrencies and how they have performed today.
Source: Alternative Top Crypto Prices Today
The price of Bitcoin, the flagship cryptocurrency has increased significantly in the last 24 hours after being hit with heavy volatility. CoinMarketCap data shows the BTC increased by 2.79% to $62,090 at the time of writing. Mirroring the uptrend, its one-day trading volume also climbed by 18.14% to rest at $46.7 billion.
However, the Bitcoin rally was not reflected in its exchange-traded funds products. In fact, Bitcoin ETFs recorded $52.83 million in outflows as of September 18 according to Soso Value data. It will be interesting to see what tomorrow’s data will give.
The leading altcoin, Ethereum has also demonstrated upswing against the backdrop of the Federal Reserve’s decision. Even though several on-chain data show significant whale dumps to centralized exchanges, the price of ETH continues to rise. Per CoinMarketCap data, ETH changed hands at $2,424, indicating a 3.90% increase at the time of writing. However, ETH spot ETFs saw $9.74 million in outflows as of September 18.
Other Altcoin Prices
The crypto Solana price witnessed a 5.37% gain in value and is currently changing hands at $138.42. Solana’s intraday bottom and top were recorded as $127.17 and $139.12, respectively. The coin’s market cap reached $64.8 billion at press time.
Also, the Ripple-backed XRP price gained 1.17% in the past 24 hours to reach $0.5835. The coin traded between the low and high of $0.5627 and $0.5902, respectively. XRP’s market stood at $32.8 billion today.
Binance Coin (BNB) jumped by 2.14% to trade at $557 and maintained a 24-hour range of $536.44 and $563.01 respectively. TRX however, recorded marginal gains in the last 24 hours. The TRX price spiked by 0.12% to change trade at $0.1503 with 24-hour lows and highs of $0.1485 and $0.1508 respectively.
Meanwhile, Bittensor (TAO), an open-source protocol network has seen impressive gains in the last 24 hours. The coin has maintained green patterns over the last 30%, up by 23.27%. At the time of writing, the altcoin changed hands at $374.30, indicating a 15.95% increase. Additionally, TAO’s one-day trading volume rocketed by 24% to reach $147.4 million, making it the #58 most-traded asset in the last 24 hours.
Source: CoinMarketCap
The memecoin market saw broader green trading. Dogecoin price saw a 2.66% gain in value to $0.1042 today feeding on the renewed network activity. Similarly, Shiba Inu, the second-largest memecoin by market cap, increased by 5.54% to $0.00001402.
Top Trending Crypto Gainers Today
Kadena (KDA) skyrocketed by 24.57% to $0.6468
ZetaChain (ZETA) added 23.67% to $0.6985
Sei (SEI) jumped by 21.80% to reach $0.3345
Panda Swap (PANDA) surged 18.84% to $0.008337
Fantom (FTM) moved up by 14.76% to $0.6515
The post Crypto Price Update September 19: BTC Climbs $62K, ETH, Bittensor, and Global Altcoins Rally appeared first on Coinfomania.
