The crypto market has attracted the attention of market participants, as evidenced by the price increase during today’s trading session.
The cryptocurrency market experienced turbulent trading last week as investors fled in fear of the Israel conflict. In addition, the economic data indicated that although inflation slowed in September, it remained above the Fed’s 2% target.
However, investors appear to have brushed off recent concerns and again placed wagers on risky assets this week. The market has been in positive territory, indicating that market participants have gained confidence. Notably, the fear and avarice index for the crypto market was 47, indicating a neutral market scenario.
The Bitcoin price was up 3.76 percent to $28,239.47, while its 24-hour volume soared 258.04 percent to $28.65 billion. The price of Bitcoin has increased by 2.29 percent over the past week due to recent price gains.
Ethereum’s price rose 1.79 percent to $1,589.65 on Tuesday, while its volume skyrocketed 196.6 percent to $9.09 billion as of press time. In contrast, the price of BNB rose 1.44% to $213.66, while its volume increased 48.49% to $518.09 million.
During the time of writing, the price of XRP increased 1.12% to $0.4925, while its volume increased 147.29% to $1.09 billion. Simultaneously, the price of Solana rose 9.07% to $24.15, while its trading volume soared 328.53% to $789.65 million.
During the writing, the Dogecoin price was up 0.97 percent to $0.05993, and the Shiba Inu price was up 1.08 percent to $0.000007088. The 24-hour volume of cryptocurrencies increased by 156.95% to $260.86 million and 48.87% to $116.82 million, respectively.
On October 17, broader market gains were bolstered by most leading cryptocurrencies’ upward momentum. As of the writing, the global crypto market capitalization increased by 2.32 percent to $1.09 trillion, and its 24-hour volume surged 221.81 percent to $62.56 billion. Below are the top four cryptocurrencies for today:
Pepe Coin Remains Flat
Despite positive market momentum, the Pepe coin price decreased by 0.19% on Tuesday, trading at $0.0000006744. However, they moved northward earlier in today’s session, but the price fluctuations indicated a highly volatile market for the cryptocurrency.
Bitcoin SV (BSV) contributes 12%
Bitcoin SV was among the best gainers on October 17, with a price increase of over 10%. The Bitcoin SV price increased 11.53 percent to $37.70 at the time of writing, while its 24-hour volume surged 870.96 percent to $255.61 million.
Render (RNDR) Jumps 7%
The price of the Render cryptocurrency increased by approximately 7% on Tuesday, making it one of the day’s leading movers. During the time of writing, the price of Render rose 6.95% to $1.87, while its volume increased 391.20% from yesterday to $85.91 million.
IOTA (IOTA) Price Rises by 4%
The IOTA price increased by 4.33 percent on October 17 to $0.1514, while its volume increased by 947.2 percent to $40.97 million. It was announced yesterday that the IOTA Foundation will join the UAE startup delegation at the CEATEC conference in Chiba, Japan, highlighting the project’s central role in technological innovation.
