2023 has so far been off to a great start. The cryptocurrency market witnessed a rally and breathed a sigh of relief. The overall market cap crossed the $1 trillion mark after spending months below $900 billion. Moreover, reports suggest that the Federal Reserve will take a cooler approach over the next month going forward.
With that being said, let us take a look at…
Bitcoin (BTC):
Bitcoin (BTC), the original crypto asset, surpassed the $23k mark after months of being below $20k. Although there are tokens that are making higher gains than BTC, the markets are following the king coin. Therefore it makes sense to keep an eye on BTC’s movements.
At press time, Bitcoin (BTC) was trading at $23,723.34, up by 2.2% in the last 24 hours. Moreover, the token has rallied by more than 40% since the beginning of the year.
Ethereum (ETH):
ETH is the second largest cryptocurrency by market cap and the most popular network for other projects to build on top of. ETH has its much-talked-about Shanghai update in March. The update will allow stakers with locked ETH in the network to finally unstake their assets. Many expect a mass sell-off of ETH once the upgrade goes live. However, many stakers are currently at a loss and will probably not sell their ETH without at least breaking even.
At press time, ETH was trading at $1,635.12, up by 2.8% in the last 24 hours.
Shiba Inu (SHIB) has some big releases coming later this year, but the most anticipated one is the project’s layer-2 launch, expected to go live in February 2023. SHIB is one of the most popular cryptocurrency projects out there, and the launch of the new network, Shibarium, might push the token to new heights.
At press time, Shiba Inu (SHIB) was trading at $0.00001205, up by 0.4% in the last 24 hours.
Disclaimer: Our articles are NOT financial advice, we are not financial advisors. All investments are your own decisions. Please conduct your own research and seek advice from a licensed financial advisor.
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