Bitcoin continues to gain; ether, dogecoin, Terra, other crypto prices today also rise

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Bitcoin continued to surge by rising above $41,000, gaining back some ground after dropping the last few sessions. The world's largest and most popular cryptocurrency was trading nearly 4% higher at $41,434. The digital token is down more than 11% in 2022 (year-to-date or YTD) so far.

Ether also strengthened at around the same time as the coin linked to the ethereum blockchain and the second largest cryptocurrency rose over 2% to $3,128. Meanwhile, dogecoin price today jumped 0.5% to $0.14 whereas Shiba Inu also gained marginally to $0.000027.

Shiba Inu and three other tokens, Solana’s SOL, Polygon’s Matic and Compound’s COMP, were all listed for the first time on Robinhood Markets Inc.’s platform. 

Other cryptocurrencies like Avalanche, Cardano, Solana, Terra, XRP, Polkadot were also trading with gains in the range of 2-6% over the last 24 hours. The global cryptocurrency market cap today bounced back above $2 trillion mark as it surged more than 4% to $2.02 trillion, as per CoinGecko.

Smaller, lesser-known tokens are outperforming Bitcoin in another ‘altcoin season’ as the world’s largest digital asset has seen its dominance wane in recent weeks. Bitcoin’s share of the market has fallen to about 40% from 65% at the start 2020, according to CoinMarketCap data.

The crypto ecosystem has grown tremendously over the past two years, with all sorts of crypto-centric products seeing booms. New companies were founded during the pandemic period, non-fungible tokens took off in a big way and alternative coins gained new prominence as investors looked to diversify away from just the largest digital tokens.

(With inputs from agencies)