With money flowing into new US spot Bitcoin exchange-traded products, which have already seen a roughly 40% increase in value in February, the largest cryptocurrency in the world, Bitcoin, rose for a fifth day on Wednesday, closing in on $59,500 for the first time since November 2021.
At the time of writing, Ethereum was up 3.1% to $3,354, having reached another two-year high, while Bitcoin was up 4.6% at $59,186, its best since December 2021. In the meantime, during the past day, the value of the worldwide cryptocurrency market increased by 3.53% to around $2.22 trillion.
When Bitcoin crossed the $59,000 barrier, it reached a new milestone. This increase might be ascribed to the significant trading activity in Bitcoin spot ETFs, which reached $3 billion and indicated rising market demand.
To further enhance the optimistic picture is the impending Bitcoin halving event, which has historically served as a catalyst for price increases. Given the present trend of rising demand and the upbeat attitude among investors, it is very likely that Bitcoin will soon surpass its previous all-time high.
The price of Bitcoin has reached an all-time high in India thanks to the most recent bull run, which is mostly being driven by supply pressure brought on by large inflows into Bitcoin ETFs. It is anticipated that the present rally will keep going higher long after the scheduled halving in April 2024.
Following the halving event, there will be further supply pressure, which might push the price of bitcoin even higher. It is anticipated that by the end of 2024, Bitcoin will reach $100,000 assuming macroeconomic conditions continue to be favorable.
Other well-known cryptocurrencies had 4-6% increases, including Uniswap, Dogecoin, XRP, and Shiba Inu. Additionally rising were Tron, Polkadot, Toncoin, Avalanche, and BNB.
8.13% of the 24-hour volume of the cryptocurrency market is now represented by the $8.51 billion total volume in DeFi. According to data accessible on CoinMarketCap, the total amount of stablecoins is currently $94.3 billion, or 90.14% of the 24-hour volume of the whole cryptocurrency market.
The largest cryptocurrency in the world, Bitcoin, saw a spike in market capitalization to $1.163 trillion in the past day. Currently, 52.48% of the market is dominated by Bitcoin, according to CoinMarketCap. The volume of Bitcoin dropped 7% to $45.98 billion in the previous day.
Monday saw declines in Bitcoin, Ethereum, and other cryptocurrencies. The market capitalization of all cryptocurrencies was $1.06 trillion, with a volume of over $20.6 billion over the previous day.
Bitcoin
The biggest and most well-known virtual currency in the world, Bitcoin, decreased 0.2 percent to $26,426.9. It was valued at $512.9 billion in the market. There were $9.7 billion worth of transactions.
Ethereum
Ethererum, also known as Ether, which is the second-largest virtual currency, decreased 0.1 percent to $1,726.4 and has a market value of $207.4 billion. In the previous day, $3.9 billion worth of Ethereum was traded.
Dogecoin
A virtual currency based on memes, had a little increase in trading on Monday. The market price for it was $8.7 billion. There were $232.4 million worth of transactions.
Solana
Solana decreased 0.4 percent to $15.5 and now has a market value of $6.2 billion. In the previous 24 hours, Solana saw $141.1 million in trading.
Shiba Inu
Shiba Inu increased by 3.3 percent and now has a market value of $4.2 billion. In the previous 24 hours, there were $198.3 million in trades.
Polygon
Polygon, with a market capitalization of $5.6 billion, decreased 1.3 percent to $0.6. In the previous 24 hours, there were $253 million worth of trades.
Brief summary of the cryptocurrency pricing on June 16: The value of the world market was $1.04 trillion.
The world’s most valuable and oldest cryptocurrency, Bitcoin (BTC), was trading below the $26,000 level on Friday. Other well-known altcoins, such as Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Litecoin (LTC), and Solana (SOL), saw a mixed bag of gains and losses. KuCoin Token (KCS), which saw a 24-hour increase of more than 13 percent, emerged as the top gainer. Hedera (HBAR), on the other hand, experienced a 24-hour decline of about 8 percent, making it the greatest loss.
At the time of writing, the market capitalization of all cryptocurrencies was $1.04 trillion, up 1.17 percent over the previous 24 hours.
Bitcoin Price Today
According to CoinMarketCap, the price of one bitcoin was $25,565.04, up 2.27 percent over the previous day. BTC’s current price was Rs 22.70 lakh, according to Indian market WazirX.
Ethereum Price Today
At the time of writing, the price of ETH was $1,667.02, up 1.14 percent over the previous 24 hours. According to WazirX, the price of ethereum in India was Rs 1.48 lakh.
Dogecoin Price Today
Currently trading at $0.06173, DOGE saw a 24-hour increase of 2.81 percent, according to statistics from CoinMarketCap. Dogecoin’s price in India was Rs 5.54, according to WazirX.
Litecoin Price Today
Litecoin gained 3.04 percent throughout the course of a day. Its price at the time of writing was $75.19. LTC was priced at Rs. 6,506,93 in India.
Ripple Price Today
The price of XRP was $0.4804, down 0.23 percent over the previous day. WazirX reported that the price of ripple was Rs 42.90.
Solana Price Today
The price of solana was $14.80, down 0.70 percent during the previous 24 hours. SOL cost Rs 1,364 in India, according to WazirX.
On Monday, the prices of Bitcoin, Ethereum, and other cryptocurrencies fluctuated. The market value of all cryptocurrencies was $1.14 trillion, with $23.1 billion worth of transactions over the previous day.
Bitcoin
The biggest and most well-known virtual currency in the world, Bitcoin, increased 0.1 percent to $27,072. It was valued at $524.7 billion on the market. A $10 billion trade volume was involved.
If purchasers are successful in keeping the price of Bitcoin above its current level, an eventual upward trend towards the $27,350 and later the $27,500 region may be anticipated. However, if the resistance cannot be overcome, the negative trend can persist. Investors are now eagerly awaiting the release of the upcoming FOMC meeting minutes, slated for June 14th, as the significant data events from the prior week have now passed us by.
Ethereum
Ethererum is the second-largest virtual currency, decreased 0.2 percent to $1,886.7 and has a $226.6 billion market capitalization. In the previous day, $4.1 billion worth of Ethereum was traded.
Dogecoin
The virtual currency Dogecoin, which is based on memes, was last down 0.9 percent on Monday. It had a market value of $10 billion. There were $144.3 million worth of transactions.
Shiba Inu
With a $5.1 billion market capitalization, Shiba Inu gains 0.8 percent. In the last 24 hours, there were $66 million worth of transactions.
Solana
Solana increased 3.2 percent to $21.9 and now has a $8.7 billion market cap. In the previous 24 hours, Solana saw $337.2 million in trading.
Polygon
Polygon fell 1.2 percent with a market capitalisation of $8.3 billion. The trade volume was $195.2 million in the last 24 hours.
Early on February 9, major cryptocurrencies experienced negative trading as the market cap of all cryptocurrencies fell by 2.32 percent, to $1.06 trillion, from the previous day. $57.38 billion has been traded on the crypto market in the last day, an increase of 7.61 percent.
DeFi’s total 24-hour volume is $5.82 billion, or 91.27 percent of the total crypto market volume. All stable coin volume is currently $52.29 billion, or 91.27% of the 24-hour volume of the whole crypto market.
According to Coinmarketcap, the price of Bitcoin, the biggest cryptocurrency in the world, fluctuated around Rs 19.40 lakh, with its market share at 41.38 percent, up 0.15 percent from the previous day.
In other news, this year the US securities watchdog will have jurisdiction over cryptocurrency brokers and investment advisers that offer or provide guidance on cryptocurrencies.
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