Crypto Price Today: BNB, Polkadot, and Dogecoin all increase by up to 6% as Bitcoin reaches $25,000

The price of bitcoin and other digital coins increased on Friday during the early Asian market hours. The global banking crisis and the US Fed’s rate-hike trajectory at its upcoming FOMC meeting, planned for next week, will be closely watched by traders.

After increasing by about 6% over the previous day, Bitcoin was back above $25,000. However, during the specified time, it fell just short of the $26,000 threshold. Ethereum, its biggest rival, increased by about 4% to reclaim the $1,700 mark. The blue-chip tokens fared better than altcoins, though.

In the last 24 hours, the bitcoin market has transacted a total of $80.24 billion, a 19.52% decline. DeFi’s trading volume currently sits at $7.25 billion, or 9.03 percent, of the entire crypto market’s 24-hour trading volume.

The positive development is that the market value has managed to surpass $1 trillion. But right now, it’s critical to avoid a possible bull pitfall. Bitcoin currently controls 44.42 percent of the market value for all cryptocurrencies.

All other widely used crypto tokens were up on Friday, with the exception of stablecoins pegged to the US currency. BNB increased by 6%, while Polkadot increased by 5%. In the early exchange, Dogecoin, Polygon, Litecoin, and Ethereum were each up 4%.

After falling more than 4% in the previous day, the market capitalization of all cryptocurrencies was trading significantly higher at $1.11 trillion. However, the overall selling volume fell by close to 18%, or about $66.55 billion.

“The major negative from last week was the unnecessary closure of Signature Bank, which was reportedly caused by connections with the cryptocurrency sector rather than problems with solvency. Access to US financial systems is becoming more challenging for cryptocurrency players over the past two weeks, according to the three most well-known crypto-friendly banks in the US.