Over the past 24 hours, the crypto market revved up and a string of coins led by BTC and ETH tasted modest gains, making the industry’s market cap cross the $900 billion mark.
The upward momentum in leading coins is being attributed to a host of news, but more particularly, the release of inflation data or the Consumer Price Index by the US Bureau of Labor Statistics. Although the CPI was 0.1% up, at 7.1% in October, it was still lower than the expected 7.3%. This produced a positive impact on the markets.
Bitcoin touched $18,000 Binance after over a month. At the press time, BTC and ETH were at $17,832 and $1,326 levels.
The spectacular handling of withdrawals by Binance over the last two days amid insolvency fears reflected positively on its native coin BNB which shot up from around $255 yesterday to above $280 today. Currently, it is occupying $272 levels.
Binance which processed over $1 billion worth of withdrawals in 24 hours on Tuesday successfully handled $8 billion worth of withdrawals in 24 hours on Wednesday.
Altcoins also registered gains in the last 24 hours. SOL, XRP, DOGE, LTC, ADA, and TRX registered gains between 2.5% and 7%. TON registered 12.3% gains to become the top performer from the list of top 100 coins.
