The crypto market was buoyant on the first day of the new year, with Bitcoin breaking above the $45,000 mark — the first time in the last 20 months. The price surge came as the market warmed up to the possibility that the US securities regulator could approve a spot Bitcoin exchange-traded fund (ETF) any moment now.
Bitcoin price rose quickly from the $42,000 level on Jan 1, jumping more than 7% in the last 24 hours to $45,373. The OG cryptocurrency now commands a market capitalization of 887.77 billion — a more than 7% jump in the past day. Its trading volume over the last 24 hours surged by 54.54% to $25.88 billion. The leading cryptocurrency has appreciated more than 170% year-to-date.
Meanwhile, Ethereum price climbed nearly 5% in the last 24 hours. It last changed hands at $2,382, a 4.86% rise from yesterday’s closing price. The 24-hour trading volume also saw a 21% surge to $8.52 billion, with Ether sitting at a total market cap of roughly $286.2 billion.
Other major tokens, such as Tether (USDT) and Binance Coin (BNB), were in the green zone, as of writing, rising 0.02% each in the last 24 hours. At press time, Tether’s price stood at $1 while BNB’s price stood at $318.
Bitcoin’s price rally on Jan 1 also fueled a surge in the prices of other altcoins. Solana’s (SOL) price rose 0.24% to $111.49 in the last 24 hours, while XRP’s price appreciated by 0.07% to $0.634. However, Cardano’s (ADA) price was down 0.10% to $0.629 in the past day.
Bitcoin’s phenomenal 24-hour run along with marginal gains recorded by other major tokens, sent the global crypto market cap soaring to $1.74 trillion, up 5.64% in the last 24 hours.
Pepe Coin Rallies Over 10%
Meme coin PEPE was among the top gainers in the past day, with the PEPE price standing at 0.0000000001773 at press time. The altcoin has rallied more than 10% in the last 24 hours and appreciated by more than in the last seven days. The 24-hour trading volume surged by a whopping 1345% to $1,656.
Shiba Inu Surges Nearly 5%
The OG meme coin also had a good run in the last 24 hours, surging more than 5% to $0.00001082. The price surge was reflected in the altcoin’s market cap, which grew by over 5.4% to nearly $6.38 billion. Meanwhile, the 24-hour trading volume stood at $114.02 million, up more than 29%.
SEI Price Jumps Roughly 30$
The price rally in the SEI token outpaced market heavyweights like Bitcoin, Ethereum, and Solana in the last 24 hours. As of writing, SEI’s price stood at $0.755, up more than 30% in the past day.
