Crypto On Thursday: Market Turns Bullish, Buying Volume Surges

The crypto market opened on a bullish note Thursday as Bitcoin (BTC) recorded a price surge of 9.49% while Ether (ETH) recorded a price surge of 15.65%. Moreover, the leading cryptocurrencies broke their respective resistances overnight as well.

As of 12:12 a.m. ET, the price of 1 BTC was $23,121 while the price of 1 ETH was $1,643, according to the data from CoinMarketCap. In the last 24 hours, Bitcoin broke the $23,000 price resistance while Ether broke the $1,600 price resistance.

Moreover, the market dominance of the world's biggest cryptocurrency rose to 41.71% while that of the second-biggest cryptocurrency rose to 18.93%.

Interestingly, the losses suffered in the first half of the week have been covered and the crypto market is now once again valued at $1.09 trillion.

The best performers for the day include Cardano which rose 10.25% to $0.5088; Solana (SOL) which rose 10.36% to $39.70; Polkadot (DOT) which rose 15.5% to $7.73; Polygon (MATIC) which rose 15.3% to $0.8884; Uniswap (UNI) which rose 21% to $8.27; and Ethereum Classic (ETC) which rose 30.44% to $32.48 as of 12:17 a.m. ET.

It is clear that almost every major cryptocurrency in the top 100 has jumped by more than 10% in the last 24 hours. However, the worst performers when compared to the best performers include Terra Classic UST which dropped 2% to $0.03741; Voyager Token (VGX) which dropped 1.32% to $0.4; Nest Protocol (NEST) which dropped 7.94% to $0.033; and Radicle (RAD) which dropped 28.85% to $2.74 as of 12:25 a.m. ET.

Meme coins Shiba Inu (SHIB) and Dogecoin (DOGE) also turned bullish and rose by 7.44% and 7.60%, respectively, while metaverse tokens The Sandbox (SAND) and Decentraland (MANA) rose 10.40% and 11.90%.

Representations of virtual cryptocurrencies are seen in this illustration taken November 28, 2021. Photo: Reuters / DADO RUVIC