Crypto Prices Today May 16: Bitcoin Surpasses $65K, Ethereum Gains, Floki Grabs Spotlight - August 2024

As a seasoned researcher with extensive experience in the cryptocurrency market, I find today’s price rally particularly intriguing. The U.S. CPI data release on May 15 sparked a significant surge in top crypto prices, with Bitcoin (BTC) breaking past the $65,000 mark and Ethereum (ETH) regaining the $3,000 level.

The prices of leading cryptocurrencies experienced a surge on Wednesday, May 15, following the unveiling of the latest Consumer Price Index (CPI) data from the United States. Notably, Bitcoin (BTC) exceeded $65,000 and Ethereum (ETH) reclaimed the $3,000 mark. Furthermore, other prominent altcoins including Solana (SOL), XRP, and Cardano (ADA) also reported substantial gains.

Major Crypto Prices Today

1. Bitcoin Price

The price of Bitcoin rose by 6.38 percent and hit a new high of $65,835.21 on Thursday, May 16. In contrast, its trading volume experienced a significant increase of 59.83 percent, amounting to $41.96 billion within the last day. Meanwhile, Bitcoin’s market capitalization was reported at an impressive $1.29 trillion.

2. Ethereum Price

At the moment of reporting, Ethereum’s price increased by 3.69% to hit $3,009.62, giving it a total market capitalization of $361.51 billion. Meanwhile, ETH‘s trading volume experienced a significant surge of 29.61%, amounting to $15.57 billion in value.

3. Solana Price

The price of Solana surged past the $160 mark today, reigniting bullish sentiment and causing a 13.33% increase, reaching a new level of $143.90. Moreover, there was a significant surge in trading activity with a 70.42% jump, resulting in a massive volume of $4.22 billion over the past 24 hours.

4. XRP Price

As the XRP price approached the $0.52 threshold once more, it experienced a significant gain of 3.24%, reaching a value of $0.5185. Simultaneously, XRP’s trading volume experienced a notable increase by 11.78%, amounting to $1.19 billion.

5. Cardano Price

Concurrently, the value of Cardano cryptocurrency decreased by 1.81%, reaching $0.4289. Simultaneously, ADA experienced a significant drop in its trading volume, amounting to $19.33% or $290.99 million.