Bitcoin under $24,000; Ether Sole Gainer Amidst Profit Book
Cryptocurrency rates today: After a day of rally, the major cryptocurrencies were trading in the red on Friday as the cryptocurrency market saw some profit bookings. The world’s largest and most popular cryptocurrency Bitcoin traded at just under $24,000, while Ethereum traded at the $1,900 mark before the long-awaited merger fanfare. The total size of the crypto market decreased by 1.57 percent to $85.24 billion in the last 24 hours.
The crypto industry’s latest insults included a report India Regulators have been investigating at least 10 cryptocurrency exchanges for allegedly helping foreign companies launder money via cryptocurrency.
Cryptocurrency tokens traded mixed on Friday. BNB, Polkadot and Uniswap are down 2 percent each, while Bitcoin is down 1 percent. Ethereum was the only winner among the major cryptocurrencies.
Meanwhile, BlackRock Inc, the world’s largest asset manager, has launched a special bitcoin fund for institutional clients in the United States, according to a blog post on its website. BlackRock said that the trust will track the performance of Bitcoin, offering direct exposure to the price of the digital currency.
The cryptocurrency market plummeted in May and June as concerns about rising inflation and higher Federal rates prompted investors to dump risky assets. After the collapse of a major coin pair, some cryptocurrency lenders have frozen customer withdrawals, and many crypto companies have cut their jobs. Prices have partially recovered, with bitcoin up 17 percent in July. Ether rose to around $1,900 from its June low of $880.
In other news, the Enforcement Department (ED) conducted a search on one of the managers of M/s Zanmai Lab Pvt Ltd that owns crypto exchange WazirX and issued a freeze order to freeze their bank balances to match Rs. 64.67 crores. The ED is conducting a money laundering investigation against a number of Indian NBFC companies that are engaged in online instant micro-loans. The ED investigation revealed that several Chinese fund-backed fintech companies were unable to obtain an NBFC license from RBI to conduct 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% loss in the past 24 hours
Ethereum $1,899.41 or 0.75 percent gain in the last 24 hours
Assess a loss of $1.00 or 0.01 percent in the last 24 hours
USD Coin gained $1.00 or 0.02 percent in the last 24 hours
$325.60 BNB or 1.64% loss in the last 24 hours
XRP $0.3786 or 0.66% 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 over the past 24 hours
Solana $43.47, or 1.62% loss over the past 24 hours
Polkadot $8.70 or 2.08 percent loss over the past 24 hours
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