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The crypto market was buoyant on the first day of the new year, with Bitcoin breaking above the $45,000 mark the first time in the last 20 months. The price surge came as the market warmed up to the possibility that the US securities regulator could approve a spot Bitcoin exchange-traded fund (ETF) any moment now.

Bitcoin price rose quickly from the $42,000 level on Jan 1, jumping more than 7% in the last 24 hours to $45,373. The OG cryptocurrency now commands a market capitalization of 887.77 billion a more than 7% jump in the past day. Its trading volume over the last 24 hours surged by 54.54% to $25.88 billion. The leading cryptocurrency has appreciated more than 170% year-to-date.

Meanwhile, Ethereum price climbed nearly 5% in the last 24 hours. It last changed hands at $2,382, a 4.86% rise from yesterdays closing price. The 24-hour trading volume also saw a 21% surge to $8.52 billion, with Ether sitting at a total market cap of roughly $286.2 billion.

Other major tokens, such as Tether (USDT) and Binance Coin (BNB), were in the green zone, as of writing, rising 0.02% each in the last 24 hours. At press time, Tethers price stood at $1 while BNBs price stood at $318.

Bitcoins price rally on Jan 1 also fueled a surge in the prices of other altcoins. Solanas (SOL) price rose 0.24% to $111.49 in the last 24 hours, while XRPs price appreciated by 0.07% to $0.634. However, Cardanos (ADA) price was down 0.10% to $0.629 in the past day.

Bitcoins phenomenal 24-hour run along with marginal gains recorded by other major tokens, sent the global crypto market cap soaring to $1.74 trillion, up 5.64% in the last 24 hours.

Meme coin PEPE was among the top gainers in the past day, with the PEPE price standing at 0.0000000001773 at press time. The altcoin has rallied more than 10% in the last 24 hours and appreciated by more than in the last seven days. The 24-hour trading volume surged by a whopping 1345% to $1,656.

The OG meme coin also had a good run in the last 24 hours, surging more than 5% to $0.00001082. The price surge was reflected in the altcoins market cap, which grew by over 5.4% to nearly $6.38 billion. Meanwhile, the 24-hour trading volume stood at $114.02 million, up more than 29%.

The price rally in the SEI token outpaced market heavyweights like Bitcoin, Ethereum, and Solana in the last 24 hours. As of writing, SEIs price stood at $0.755, up more than 30% in the past day.

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Crypto Prices Today: Bitcoin Zooms Past $45K, Ethereum and Pepe Coin Rally - CoinGape