Bitcoin Trades Flatline
By Laxmikant Khanvilkar
Bitcoin (BTC), the largest virtual digital asset by market capitalization, has remained stuck in the narrow range movement amid lower trading volumes but still stands above $27,000.
The past two days have been rather uneventful. Hence, cryptocurrencies witnessed little trading activity and typically low weekend trading volumes.
BTC was last quoted marginally higher at $27,031. The larger-cap altcoins have mimicked BTC’s performance. Ethereum (ETH) edged marginally lower to $1,881.
Several other altcoins are also quiet on a daily scale.
The deal reached by the US government in regard to the nation’s debt ceiling triggered volatility in VDA prices but bulls have managed to rein in control and helped bitcoin recover some of the losses posted during the weekend trade.
The global crypto market cap edged 0.16% higher to $1.15 tn, over the last 24-hours. The total crypto market volume rose 13.79% to $22.20 bn, during this period. The total volume in DeFi is currently $2.09 bn, 9.43%, whereas all stablecoins volume is now $20.50 bn, which is 92.32% of the total crypto market 24-hour volume. Bitcoin’s dominance is currently 45.92%, an increase of 0.01%.
IC15 index, the barometer of top fifteen tokens, quotes moderately higher at 37,639 points.
Meanwhile, Jack Dorsey, Twitter’s cofounder and former CEO, has endorsed Democratic presidential contender Robert F. Kennedy, Jr.
Kennedy, a nephew of President John F. Kennedy and the son of his slain brother Robert F. Kennedy, is like Dorsey a strong believer in Bitcoin, which he recently described as an “exercise in democracy.”
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