Avalanche & Solana rise 3%, Ethereum trades at $1,900, and Bitcoin holds $29,000

The largest cryptocurrency, Bitcoin, increased its gains by more than 2% to remain close to the $29,000 level. Ethereum, its biggest rival, increased 2% and reclaimed the $1,900 mark.

Despite the resurgence of turmoil in the US banking industry and the slowing growth of the greatest economy in the world, Bitcoin and other popular crypto tokens were not traded on Friday. The bulk of digital tokens, however, were able to hang onto their gains. The US Fed’s meeting next week is anticipated by traders.

The largest cryptocurrency asset, Bitcoin, kept climbing higher and gained more than 1%, hovering around the $29,000 level. Ethereum, its biggest rival, remained virtually unchanged but maintained the $1,900 level. Early on Friday, there wasn’t much activity in the alternative currency.

The last 24 hours have seen uneven trading in the cryptocurrency markets. As banking industry unrest resurfaces and US economic growth slows, BTC is currently trading in the $29,000 to $29,000 range, up more than 1% in the last 24 hours. Above $1,900, ETH is also trading neutrally.

The impending Federal Open Market Committee (FOMC) meeting next week is anticipated by investors. In light of recession concerns, the general expectation is for the Fed to raise interest rates one more time but only once.

All major crypto coins, with the exception of the biggest names, were trading with modest increases on Friday. Only Shiba and BNB were down up to 2%, with US dollar-pegged stablecoins and Ethereum the only other losers. Solana and Avalanche were among the gainers, each rising by roughly 3%.

The market capitalization of all cryptocurrencies was trading significantly higher, circling the $1.21 trillion barrier after increasing by roughly 1% in the previous day. The entire trade volume fell by nearly 31% to $48.42 billion, though.

The price of Bitcoin abruptly fell by 8% on April 26 to $27,242, but recovered quickly as a result of worries about the US banking sector and economy. The next resistance level of $30,000 might be reached by Bitcoin, opening up prospects for purchases up to $30,800.