After the U.S. CPI data was released on Wednesday, cryptocurrencies have surged over the past 24 hours. The global market cap was at $1.15 trillion as of 9: 00 AM IST after seeing a massive uptrend of 6.69 per cent over the last 24 hours, according to CoinMarketCap data. The markets for cryptocurrencies have not breached this level in the past 2 months.
The price of cryptocurrencies went up 6.41 per cent and breached the $24,000 mark. After CPI data, the price of ether rallied a whooping 12.72 per cent.
Stable coins like USDT Tether and USDC maintained their pegs at $1. Each had an uptrend of 0.01 over the last 24 hours.
The BNB token of Binance gained 5.11 per cent and is trading at $331.
XRP, the token of Ripple, has gone up 5.38 per cent from its value 24 hours ago.
The ADA token surpassed Binance's stable coin to become the seventh most valuable criptocurrency after gaining 7.04 per cent in the last 24 hours.
Stablecoin BinanceUSD showed a 0.01 per cent uptrend and is trading at $1.
The native Solana token, the SOL token, is up 11.46 per cent.
The Polkadot token is trading at $9.49 after surging 10.02 per cent over the last 24 hours.
In this rally, Memecoins Doge and Shiba Inu also gained. They were 5.72 per cent and 4.68 per cent respectively.
Stable coin DAI is trading at $1 and showing a 0.02 per cent positive change in its value.
The MATIC token of Polygon went up 7.19 per cent in the last 24 hours.
AVAX token of Avalanche showed an upside of 7.54 per cent.
Uni swap was the fifteenth most valuable criptocurrency per market value. It increased 11.62 per cent over the last 24 hours.
The last 24 hours of the top coin showed a lot of upside.