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Bitcoin Zooms Over $22,000, Polkadot, Solana Gain up to 8% in a Day

Cryptocurrency Price Today: The crypto market on Tuesday extended Monday’s gain, with most cryptocurrencies including Bitcoin, Solana and Polygon undergoing a rally amid an overall market volatility. Bitcoin on Tuesday zoomed past the $22,000 mark, while Ethereum traded in red ahead of its software update, The Merge, set to take place on September 15.

The global cryptocurrency market remained largely flat and fell by 0.17 per cent to top $1.07 trillion at the time of writing this article, data from CoinMarketCap showed. While Ether traded in red, Solana went up by over 8 per cent, while Polygon zoomed 5 per cent during the day.

Bitcoin price today jumped by 0.12 per cent to edge past the $22,000 mark. At the time of writing this article, Bitcoin price was standing at $22,212.18 per cent, data from CoinMarketCap showed.

“Bitcoin rose above US$22,000 as the buying strength increased late Monday afternoon. If BTC manages to hold above the current level, the next immediate resistance of BTC could be at US$24,00. Overall, the outlook for BTC has turned positive as it outpaced Ethereum,” said Edul Patel, CEO and co-founder of Mudrex.

On the other hand, Ether traded in red ahead of the Merge, as investors keenly waited for the results. Ethereum price today at the time of writing this article was $1,710.51, down by 2.55 per cent in the past 24 hours.

As part of the merge, the Ethereum network will migrate from miners-dominated proof of work to a more efficient proof of stake model.

“In contrast, Ethereum has been changing hands at the US$1,690 level. It suffered a 2 per cent dip as the uncertainty increased ahead of the Merge. If ETH can hold above the US$1,689 level, it will bounce back to the US$1,700 mark. But if it fails to do so, one can expect the test of a critical support level at US$1,650,” added Patel.

“The proof of work miners from the Ethereum blockchain will shift to other networks which will increase the mining activity on those networks. The shift will have an impact on other crypto assets and we can expect significant price movement across crypto assets post the merge. The Ethereum merge marks the beginning of energy-efficient crypto operations which will help is driving mass adoption of crypto-related products and services. We can expect similar initiatives in the future to provide a level playing field to the crypto industry around the globe,” said Shivam Thakral, CEO of BuyUcoin.

Here are the top 10 cryptocurrencies and their prices on September 13, Tuesday (data from coinmarketcap.com at the time of publishing this article)

Bitcoin $22,212.18 or 0.12 per cent gain in the last 24 hours

Ethereum $1,710.51 or 2.55 per cent loss in the last 24 hours

Tether $1.00 or 0.00 per cent gain in the last 24 hours

USD Coin $0.9998 or 0.02 per cent loss in the last 24 hours

BNB $293.20 or 1.35 per cent loss in the last 24 hours

Binance USD $0.9999 or 0.01 per cent loss in the last 24 hours

XRP $0.355 or 0.25 per cent loss in the last 24 hours

Cardano $0.5014 or 2.51 per cent loss in the last 24 hours

Solana $38.27 or 6.64 per cent gain in the last 24 hours

Polkadot $7.64 or 2.47 per cent loss in the last 24 hours

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