Leading cryptocurrencies gained on Wednesday, defying stock decline amid higher-than-expected inflation data.
| Cryptocurrency | Gains +/- | Price (Recorded at 7:45 p.m. ET) |
| Bitcoin (CRYPTO: BTC) | +1.68% | $97,612.38 |
| Ethereum (CRYPTO: ETH) |
+4.27% | $2,718.34 |
| Dogecoin (CRYPTO: DOGE) | +4.11% | $0.2628 |
What Happened: Bitcoin sailed above $98,000, following a 31% jump in trading volume. The leading cryptocurrency has lost 4.46% of its value since February began, compared to an average monthly return of 14.11%.
Ethereum hit the upper reaches of $2,700 following a 4.27% increase in the last 24 hours. The second-largest cryptocurrency also recorded a 30% jump in trading volume.
In the past 24 hours, 137,999 traders were liquidated, with total liquidations at $308.36 million. More than $162 million was accounted for long liquidations.
Bitcoin’s Open Interest rose by 0.84% in the last 24 hours. The long exposure fell sharply, with 58% of Binance futures traders betting on the cryptocurrency’s increases, down from 69% a day …
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