Bitcoin and Ethereum have seen a wild rise in prices recently, with 20% of them rising in the past week. Speculation has been rife about the potential heights of cryptocurrency markets.
Understanding the potential of these markets is crucial as more people are turning to cryptocurrency to protect their wealth and to take advantage of new opportunities.
The market for cryptocurrency was positive on January 15th. The market capitalization total was more than 2 trillion dollars. This represents a 0.53% rise compared to the previous days. The trading volume fell by 16.66% to 84.28 trillion dollars in 24 hours.
Decentralized Finance (DeFi), which holds 15.14% of all crypto market trading activity, has seen its funds rise to $12.76 Billion. The value of stablecoins has reached a staggering $67.57 Billion, accounting for 80.17% of all crypto trades in the last 24 hours.
Bitcoin has soared to $20.911. It even surpassed the $20,500 support level. In the past 24 hours, $27 billion was traded.
Bullish price increases have created an opportunity for the uptrend to reach $21,000 and further, with the potential to reach its trading goal of $23,000.
Ethereum saw its price reach $1,559 and a 24-hour trading volume in excess of $14 billion. The significant rise above the $1,500 key resistance indicates that the ETH/USD pair is well on its way to the $1,650 barrier.