The crypto market was buoyant on the first day of the new year as Bitcoin broke $45,000 for the first time in 20 months. The price surge came as the market prepared for the possibility that the U.S. securities regulator could approve a spot Bitcoin exchange-traded fund (ETF) at any time.
Bitcoin price rose quickly from the $42,000 mark on January 1, jumping more than 7% to $45,373 in the last 24 hours. The OG cryptocurrency now has a market cap of 887.77 billion – an increase of more than 7% compared to the past day. Its trading volume increased by 54.54% to $25.88 billion in the last 24 hours. The leading cryptocurrency has gained more than 170% since the beginning of the year.
Meanwhile, Ethereum price is up almost 5% in the last 24 hours. It last changed hands at $2,382, up 4.86% from yesterday's closing price. 24-hour trading volume also increased by 21% to $8.52 billion, with Ether having a total market cap of about $286.2 billion.
Other major tokens such as Tether (USDT) and Binance Coin (BNB) were in the green at the time of writing, each up 0.02% in the last 24 hours. At press time, Tether was priced at $1, while BNB was priced at $318.
Bitcoin’s price surge on January 1 also led to a rise in the price of other altcoins. The price of Solana (SOL) increased by 0.24% to $111.49 in the last 24 hours, while the price of XRP increased by 0.07% to $0.634. However, the price of Cardano (ADA) fell by 0.10% to $0.629 over the past day.
Bitcoin's phenomenal 24-hour rise, as well as marginal gains in other major tokens, pushed the global crypto market cap to $1.74 trillion, up 5.64% in the last 24 hours.
Top cryptos for today
Pepe Coin rises over 10%
The meme coin PEPE was among the top gainers over the past day, with the PEPE price at 0.0000000001773 at press time. The altcoin is up more than 10% in the last 24 hours, gaining more than it has in the last seven days. The 24-hour trading volume increased by a whopping 1345% to $1,656.
Pepe Coin price chart, image credit: CoinMarketCap
Shiba Inu rises almost 5%
The OG Meme coin also saw a good bounce in the last 24 hours, rising by more than 5% to $0.00001082. The price increase was reflected in the altcoin’s market cap, which increased by over 5.4% to nearly $6.38 billion. Meanwhile, the 24-hour trading volume stood at $114.02 million, up more than 29%.
Shiba Inu price chart, image credit: CoinMarketCap
The SEI price increases by about $30
The SEI token’s price rise has surpassed market heavyweights such as Bitcoin, Ethereum and Solana in the last 24 hours. At the time of writing, SEI was priced at $0.755, up more than 30% in the past day.
SEI price chart, image credit: CoinMarketCap
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