Despite the simultaneous decline of the U.S. New York Stock Exchange, cryptocurrency prices rose across the board. In particular, altcoins such as Ripple and Solana saw significant increases.
As of 8 a.m. on the 2nd, Bitcoin is trading at $111,113, up 2.39% from 24 hours ago, according to the global coin tracking site CoinMarketCap. Ethereum is showing a price of $4,326, up 0.82%.
Ripple is trading at $2.85, up 3.93%, while Solana is trading at $208, up 6.16%.
On that day, international gold prices surpassed $3,600 per ounce for the first time, leading to an increase in cryptocurrency prices. Cryptocurrencies are recognized as an alternative to gold.
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