The crypto market seems to be on upswing price-wise, with majority cryptocurrencies reflecting profits on Wednesday, June 19. Bitcoin recorded a small gain of 0.35 percent to trade at the price point of $65,573 (roughly Rs. 54.6 lakh), as per CoinMarketCap. This is the first time in weeks that Bitcoin has managed to reach and breach the mark of $65,000 (roughly Rs. 54 lakh) on international exchanges. Meanwhile in India, Bitcoin is trading at $71,915 (roughly Rs. 59.9 lakh) on exchanges like WazirX and CoinDCX.
“Although Bitcoin appears slightly bearish on shorter time frames, it is performing well on weekly charts, indicating that the bull market is likely still ongoing. Bitcoin’s dominance also remains steady at around 55 percent,” the CoinSwitch Markets Desk told Gadgets360.
Ether slipped in value by 2.73 percent on Wednesday, as per Gadgets360’s crypto price tracker. At the time of writing, ETH was trading at $3,092 (roughly Rs. 2.57 lakh) on Indian exchanges and at around $3,560 (roughly Rs. 2. 96 lakh) on international exchanges. Ether price is estimated to go up, given the latest development around it in the US.
“Ethereum developer Consensys has announced that the US Securities and Exchange Commission is ending its investigation into whether ETH is a security and whether sales of ETH constitute security transactions,” the CoinSwitch desk added.
Most cryptocurrencies logged gains on Wednesday. These include Tether, Binance Coin, Solana, Ripple, Dogecoin, Cardano, Shiba Inu, Avalanche, and Tron.
Polkadot, Chainlink, Uniswap, Polygon, and Near Protocol also registered minor gains.
“Overall, the market has been slowly rebounding from recent declines. Ethereum ETF issuers received SEC feedback on their S-1 forms last week, with a deadline to finalise them by this Friday,” Edul Patel, CEO of Mudrex told Gadgets360.
The small bunch of altcoins that reflected losses on Wednesday include Litecoin, Elrond, EOS Coin, and Underdog.
As per CoinMarketCap, the overall crypto market cap rose by 0.92 percent in the last 24 hours. With this, the sector’s valuation has come to $2.38 trillion (roughly Rs. 1,98,41,691 crore).
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