Home Business Bitcoin Below $24,000; Ether Sole Gainer Amid Profit-Booking

Bitcoin Below $24,000; Ether Sole Gainer Amid Profit-Booking

Bitcoin Below $24,000; Ether Sole Gainer Amid Profit-Booking


Cryptocurrency Prices Today: A day after rallying, major cryptocurrencies traded in red on Friday as the crypto market saw some profit booking. The world’s largest and most popular cryptocurrency Bitcoin was trading below $24,000, whereas Ethereum held at the $1,900 mark ahead of its much-awaited merge buzz. The total crypto market volume decreased 1.57 per cent to $85.24 billion over the last 24 hours.

The crypto industry’s latest indignities included a report that India regulators were investigating at least 10 crypto exchanges for allegedly assisting foreign firms to launder money via crypto.

Top crypto tokens were trading mixed on Friday. BNB, Polkadot, and Uniswap dropped 2 per cent each, whereas Bitcoin shed a per cent. Ethereum was the sole gainer among major cryptocurrencies.

Meanwhile, BlackRock Inc, the world’s biggest asset manager, has launched a spot bitcoin private trust for institutional clients in the United States, 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 worries about high inflation and Federal Reserve interest rate hikes prompted investors to ditch risky assets. Following the collapse of a major pair of tokens, some cryptocurrency lenders froze customer withdrawals, and several crypto firms have cut jobs. Prices have partly recovered, with bitcoin gaining 17 per cent in July. Ether has risen to around $1,900 from its 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 Crypto-currency exchange WazirX and has issued a freezing order to freeze their Bank balances to the tune of Rs 64.67 crore. ED has been conducting Money Laundering investigation against a number of Indian NBFC companies which are in the business of Online Instant Micro Loans. ED investigation revealed that various fintech companies backed by Chinese funds could not get NBFC license from RBI for carrying 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 per cent loss in the last 24 hours

Ethereum $1,899.41 or 0.75 per cent gain in the last 24 hours

Tether $1.00 or 0.01 per cent loss in the last 24 hours

USD Coin $1.00 or 0.02 per cent gain in the last 24 hours

BNB $325.60 or 1.64 per cent loss in the last 24 hours

XRP $0.3786 or 0.66 per cent loss in the last 24 hours

Binance USD $1 or 0.05 per cent loss in the last 24 hours

Cardano $0.5177 or 1.33 per cent loss in the last 24 hours

Solana $43.47 or 1.62 per cent loss in the last 24 hours

Polkadot $8.70  or 2.08 per cent loss in the last 24 hours

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