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Bitcoin tops $40,500; Dogecoin is up 30% as Elon Musk prepares to buy Twitter

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Cryptocurrency The tokens reversed yesterday’s losses and were in the green. The recent volatility is due to factors such as inflation, the Ukraine crisis and monetary tightening. With the exception of Tether, which is pegged to the dollar, all major cryptocurrencies traded higher during the early hours of Tuesday. Dogecoin It has been magnified by 29.56 percent. Tera is up 8 percent, while Ethereum is up 5 percent.

The global cryptocurrency market cap was trading at $1.86 trillion, up more than 3 percent in the past 24 hours. However, the total cryptocurrency trading volume increased by about 43 percent to $97.88 billion.

Sumit Kher, co-founder of BitsAir Exchange, said: “Despite the pessimism in the market amid rising inflation and a hawkish comment from the Federal Reserve, cryptocurrencies have regained some magic after Musk’s purchase of Twitter in a massive $44 billion cash deal. Musk is up significantly including Bitcoin and Ethereum but Dogecoin is a standout performer One should be wary of euphoria and avoid financial positions This is neither the first nor the last time Musk has pushed the cryptocurrency markets higher Investors should be selective and to avoid being afraid of being afraid of being afraid.”

In international news, the head of the Bank of Canada said the Canadian dollar will remain at the heart of the country’s financial system, Reuters reported. This was in response to questions about a conservative leadership candidate’s pledge to make the country the blockchain capital of the world.

There are promising benefits to innovation in the financial sector. Having said that, we certainly expect the Canadian dollar to remain at the heart of the Canadian financial system,” Bank of Canada Governor Teff McClem said in testimony to a House of Commons committee.

The Bank of Canada is currently working on its own central bank digital currency, the so-called Digital Loonie, which could be launched if a private digital tender was introduced as a payment system.

In the corporate corner, the Abu Dhabi Global Market (ADGM) has licensed Kraken Group to operate a regulated virtual asset exchange platform in the financial free zone, Reuters reported. It said Kraken is the first global virtual asset exchange group in the UAE to obtain a full financial license from ADGM.

Here are the top 10 cryptocurrencies and their prices on April 26, 2022 (data from coinmarketcap.com)

Bitcoin $40,488.66 or 4.22% gain in the past 24 hours

Ethereum $2,996.18 or 5.88 percent gain in the last 24 hours

Assess a loss of $1.00 or 0.00 percent in the last 24 hours

BNB $400.17 or 3.53% gain in the last 24 hours

USD Coin 1.00 USD or 0.07% loss in the last 24 hours

XRP $0.679 or 4.42 percent gain in the last 24 hours

Solana $100.54 or 5.57 percent gain in the past 24 hours

Terra $95.23 or 7.53 percent gain in the last 24 hours

Cardano is $0.8706, or 2.85 percent, has gained in the last 24 hours

Avalanche $69.99 or 4.11 percent gain in the last 24 hours

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