Bitcoin Below $24,000; Ether Sole Gainer in the middle of profit booking
Cryptocurrency Prices Today: A day after the rally, major cryptocurrencies traded in the red on Friday as the crypto market saw some gains. The world’s largest and most popular cryptocurrency Bitcoin traded below $24,000, while Ethereum held at $1,900 ahead of the much-anticipated merger buzz. Total crypto market volume fell 1.57 percent to $85.24 billion in the last 24 hours.
The crypto industry’s latest outrages included a report that India’s regulators were investigating at least 10 crypto exchanges for allegedly helping foreign firms launder money via crypto.
Top crypto tokens traded mixed on Friday. BNB, Polkadot and Uniswap each fell 2 percent, while Bitcoin fell one percent. Ethereum was the only winner among major cryptocurrencies.
Meanwhile, BlackRock Inc, the world’s largest asset manager, has launched a spot bitcoin private trust for institutional clients in the US, according to a blog post on its website. The trust will track the performance of bitcoin, offering direct exposure to the price of the digital currency, BlackRock said.
The crypto market plunged in May and June as concerns about high inflation and interest rate hikes by the Federal Reserve prompted investors to shed risky assets. After the collapse of a major pair of tokens, some cryptocurrency lenders froze customer withdrawals, and several crypto firms have cut jobs. Prices have partially recovered, and bitcoin increased by 17 percent in July. Ether has risen to around $1,900 from the June low of $880.
In other news, the Enforcement Directorate (ED) has conducted searches on one of the directors of M/s Zanmai Lab Pvt Ltd, which owns the popular cryptocurrency exchange WazirX and has issued a freezing order to freeze their bank balances of Rs NOK 64.67 million. The ED has conducted money laundering investigations against a number of Indian NBFCs operating Online Instant Micro Loans. ED investigation revealed that various fintech companies backed by Chinese funds could not get NBFC license from RBI to carry out lending business.
Here are the top 10 cryptocurrencies and their prices on August 12, 2022, Wednesday, (according to data from coinmarketcap.com)
Bitcoin $24,036.34 or 1.79 percent loss in last 24 hours
Ethereum $1,899.41 or 0.75 percent gain in last 24 hours
Tether $1.00 or 0.01 percent loss in the last 24 hours
USD Coin $1.00 or 0.02 percent gain in last 24 hours
BNB $325.60 or 1.64 percent loss in the last 24 hours
XRP $0.3786 or 0.66 percent loss in the last 24 hours
Binance USD 1 or 0.05 percent loss in the last 24 hours
Cardano $0.5177 or 1.33 percent loss in the last 24 hours
Solana $43.47 or 1.62 percent loss in the last 24 hours
Polkadot $8.70 or 2.08 percent loss in last 24 hours
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