Bitcoin sizzles above $43.7K
By Laxmikant Khanvilkar
The virtual digital assets (VDA) are back in the positive territory as regulators assembled once again, second time this month, to iron out key issues before approving the bitcoin spot exchange traded funds (ETF) launch, which experts believe may flood the markets with liquidity.
Representatives from BlackRock, Nasdaq and the Securities and Exchange Commission (SEC) met to discuss rule changes necessary to list ETFs.
SEC frequently engaging exchanges officials and investment advisers have propelled digital currencies higher. In the past 24-hours, Bitcoin (BTC), the largest cryptocurrency by market capitalisation, made another attempt to climb above $44,000 mark. Though, it has failed to sustain that level once again, but it remains firmly placed. The oldest currency is recently trading at $43,614, up 2.9%. Ethereum (ETH), the second largest cryptocurrency, accumulated small gains, up 0.4% currently changing hands at $2,192.
Large-cap tokens of XRP, Solana, Cardano, Binance, etc were sitting in profits. Solana has flipped XRP as the fifth largest cryptocurrency by market capitalisation, thanks to meme coin mania.
As a result, the global crypto market cap increased by 2.21% to $1.62 trillion in the last 24 hours. Similarly, the total crypto market volume rose 17.8% to $70.35 billion. Total volume in DeFi is currently $7.5 billion, and all stablecoins are $62.6 billion, representing 10.7% and 89%, respectively, of the total crypto market 24-hour volume. Bitcoin’s dominance is currently 52.6%, up 0.34% over the day.
The IC15 index, the barometer of the top fifteen tokens, surged 3% to 54,724.
Meanwhile, MicroStrategy (MSTR) Executive Chairman Michael Saylor believes the approval of the spot bitcoin ETFs will be the biggest development on Wall Street in 30 years, which may result in increased investor participation.
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