Crypto News – What Will Drive 16 May Crypto Prices?
Crypto News – Following the announcement of the cooking U.S. CPI data on Wednesday, May 15, the leading crypto prices today saw a surge. In the rest of the article, some other cryptocurrencies that are on the rise, especially Bitcoin and Ethereum, are included.
The Bitcoin Price Increased by 5%
As of Thursday, May 16, at the time of writing, the price of Bitcoin had increased by 5.31% to $66,157. Its trading volume, however, increased 61.42% to $41.64 billion over the previous day. The market capitalization of cryptocurrency was $1.30 trillion at the time.
Ethereum Price Rises as Trading Volume Breaks Record
At the time of writing, Ethereum was valued at $360.30 billion, having increased in value by 2.93% to $2.999. On the other hand, ETH’s trading volume increased 30.94% to $15.45 billion.
Solana Price Hits $162
The price of Solana increased by 12.14% to $162.92 before stabilizing. Moreover, on the previous day, SOL’s trade volume increased by 84.13% to $4.37 billion.
XRP Trading Volume Rises to $1.23 Billion
The price of XRP, however, continued to trudge toward $0.52. Reaching $0.5175, the price of XRP had a 3.07% spike. However, XRP trading volume increased to $1.23 billion, a 23.09% increase in trading volume.
Cardano Trading Volume Increased by 57.14% in the Last 24 Hours
Cardano’s price increased by 4.84% to $0.4549 today, in the meanwhile. Simultaneously, ADA’s 24-hour trading volume increased by 57.14%, ultimately reaching $421.39 million.
FAQ
How is the Crypto Market Today?
The global cryptocurrency market cap today is $2.39 Trillion, a +4.93% change in the last 24 hours.
What is the Current CPI Rate in the US?
The US Consumer Price Index was 311.05 last month and 301.74 a year ago; it is currently at 312.23. This represents a 3.48% change from a year ago and a change of 0.38% from last month.
Will the Crypto Market Recover?
Recently, there have been indications of a resurgence in the cryptocurrency market, with Bitcoin hitting greater highs than short-term predictions. This came when it was declared that the US inflation rate was beginning to decline.
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