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Bitcoin and other major cryptocurrencies, like Ethereum, showed signs of recovery after the US Federal Reserve released its consumer price index (CPI) inflation data on September 13. Despite the Fear and Greed Index still being in “fear” territory, the overall performance of cryptocurrencies tells a different story. At the time of writing, the Fear and Greed Index was at a level of 36.
The Current State of Crypto
The price of Bitcoin is showing signs of life, gaining momentum and reaching $26,240 with a 1.50% increase in the past 24 hours. However, it’s worth noting that the largest cryptocurrency by market value remains below the $30,000 resistance level. Other major cryptocurrencies like Ethereum (ETH), BNB, XRP, Cardano (ADA), and Solana (SOL) are also experiencing positive momentum.
At the time of writing, the price of Ethereum was trading at around $1,621.21, up by approximately 2%. Among other cryptocurrencies, BNB saw a 1.13% increase to $212.18, while Cardano saw a 1.83% increase to $0.2486. Additionally, Solana saw a 6.18% increase to $18.91, and TomoCoin saw a 7.04% increase to $1.91. The meme cryptocurrencies also saw some gains, with Dogecoin increasing by 1.08% to $0.06136, and Shiba Inu increasing by 1.44% to $0.000007279 in the past 24 hours.
The recent performance of major cryptocurrencies indicates that crypto enthusiasts are regaining confidence and triggering positive momentum in the broader market. While the global crypto market cap increased by 1.46% to $1.04 trillion at the time of writing, the 24-hour trading volume decreased by 11.73% to $29.27 billion. However, investors are now awaiting the release of initial jobless claims and producer price index (PPI) data later today.
Top 4 Cryptocurrencies of the Day
Pepe Coin saw a 1.61% gain on Thursday, trading at $0.0000006798. Its market cap increased by 1.61% to $266.32 million, while the 24-hour trading volume increased by 7.16% to $47.29 million. Pepe Coin, the third-largest meme cryptocurrency, seems to be attracting traders’ attention after a challenging period.
Hedera’s price increased by 10.56% during the day and was trading at $0.0523 during the summer. Its market cap also increased by 11.20% to $1,736,737,924. Despite no significant news, Hedera recently announced that they will showcase their Proof-of-Reserve solutions at the TOKEN2049 event today.
THORChain’s price reached 1.61 during the summer and increased by 8.20% in the past 24 hours. Its market cap increased by 8.12% to $543,695,664, and the 24-hour trading volume increased by 110.74% to $58,441,729. In a recent announcement on the X platform, THORChain stated that RUNE has been fully distributed.
MKR crypto was among the top gainers on September 14. At the time of writing, Maker’s price increased by 5.05% to $1,177.64, and its market cap increased by 5.42% to $1,151,298,444. The crypto seems to be gaining attention after its presence at two major crypto events, the Korea Blockchain Week (September 4-10) and TOKEN2049 (September 13-14), where it discussed its “End Game” project.
