The largest cryptocurrency, Bitcoin, experienced modest increases, rising about 1% and approaching $27,000 levels, while Ethereum grew little to maintain its position above $1,600.

Prior to the Federal Reserve’s policy meeting, where it is anticipated that the US central bank would maintain the status quo, bitcoin and other cryptocurrency tokens were trading higher on Tuesday. The market share of Bitcoin in the cryptocurrency space has risen to almost 50%, which is the greatest level in the previous 26 months.

The biggest cryptocurrency token, which is reaching $27,000 levels after briefly touching it, increased by 1% and helped Bitcoin post modest gains. Ethereum, its biggest rival, also made a small gain to maintain its position over the $1,600 barrier. In the early going, cryptocurrency price activity stayed on the up side.

The last 24 hours have seen sideways trading in the cryptocurrency market with an upward bias. The last eight days have been largely favourable for the cryptocurrency market, with Bitcoin recovering roughly 10% from its recent lows. Today was another good day for Bitcoin as it surpassed $27,400 before easing down somewhat.

Solana and Chainlink are two other cryptocurrencies that are worth mentioning because they have been gaining substantial traction ever since the market began to stabilise. Chainlink’s infrastructure is used by industry giants like financial services provider SWIFT, so if this momentum keeps going, there could be a substantial upside.

With a few exceptions, Tuesday saw higher trade for all of the leading crypto tokens. Solana gained about 4% while Toncoin increased by about 5%. Litecoin increased by more than 3%, while XRP and Cardano each had a 2% increase. BNB experienced a decline of around 1%, and Shiba Inu and Polkadot both experienced declines.

The market capitalization of all cryptocurrencies was up somewhat in the recent day, reaching the $1.07 trillion milestone. The entire trade volume did, however, increase by more than 63 percent to $30.13 billion.

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