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SUMMARY

Most cryptocurrencies gained on Wednesday. The global crypto market cap stood at $1.15 trillion, with a volume of $40 billion in the past 24 hours.

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Bitcoin | The world's largest and most popular virtual currency, Bitcoin, gained 2.5 percent to $27,639.41. Its market value stood at $530.30 billion. The trade volume was at $18 billion.

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"The SECs concerns about security tokens, and subsequent labeling of Ether as a commodity by CFTC has contributed to a price hike for ETH. This along with its founder Vitalik Buterin statement about Ethereum not being likely to be labeled as a security has seen ETH rise by 4%. Some of the top networks such as Cardano, Solana, and Polygon also saw a price increase. The exponential moving average for BTC indicates a Buy sentiment whereas major market oscillators continue to be neutral," said Rajagopal Menon, Vice President, WazirX, on the crypto market.

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Ethereum | The second largest virtual currency, Ethererum or Ether, gained 4.4 percent to $1,794.07 with a market capitalisation of $219.55 billion. The trade volume of Ethereum was $8.7 billion in the last 24 hours.

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Dogecoin | Meme-based virtual currency, Dogecoin, gained 2.27 percent. Its market value stood at $9.8 billion. The trade volume was at $269.09 million.

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Solana | Solana gained 4.72 percent to $20.68 with a market capitalisation of $7.9 billion. The trade volume of Solana was $357.81 million in the last 24 hours.

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Shiba Inu | Shiba Inu gained 2.18 percent with a market capitalisation of $6.2 billion. The trade volume was $151.19 million in the last 24 hours.

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Polygon | Polygon jumped 4.86 percent with a market capitalisation of $9.88 billion. The trade volume was $335.90 million in the last 24 hours.

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Crypto Price Today: Bitcoin above 27k, Ethereum and most other tokens gain - CNBCTV18