On Monday, July 1, Bitcoin showed price increases on foreign and local exchanges. According to CoinMarketCap, the most expensive crypto asset grew by 4.26 percent in the last day to trade at $63,373 (roughly Rs. 52.8 lakh) on international exchanges. Internationally, BTC was trading at $61,637 (roughly Rs. 51.4 lakh) on global exchanges last week. This is the first time in over a month that BTC has crossed the $63,000 mark (roughly Rs. 52.5 lakh). Meanwhile, on Indian exchanges like WazirX and CoinSwitch, the current value of BTC stands at $68,110 (roughly Rs. 56.8 lakh).
Ether entered trading in July at $3,491 (roughly Rs. 2.91 lakh) in foreign currency. Over the past week, ETH has managed to grow in price by $43 (roughly Rs. 3,587). Meanwhile, the value of ETH in India stands at $3,236 (roughly Rs. 2.70 lakh), as shown in Gadgets360's crypto price chart.
“The new EU Regulation on Markets in Crypto Assets (MiCA) has entered into force, providing legal clarity and comprehensive regulation for the digital asset market. MiCA aims to address the boom and bust cycles of the crypto industry and give Euro-denominated stablecoins a chance to succeed,” the CoinSwitch Markets Desk told Gadgets360, commenting on the market rally.
Major cryptocurrencies posted gains on July 1, as shown by Gadgets360's crypto tracker. These cryptocurrencies include Solana, Ripple, Cardano, Avalanche, Tron, and Shiba Inu.
Profits also hit Polkadot, Near Protocol, Polygon, Stellar, Cosmos, Cronos and Bitcoin SV.
Global crypto market cap increased by 3.87 percent in the last 24 hours. At the time of writing, the valuation of the crypto sector stands at $2.33 trillion (roughly Rs. 1,94,40,413 crore), CoinMarketCap shows.
“With the US presidential debate showing that pro-crypto Trump has a better chance of winning the upcoming election, investors are optimistic about the future of the world's largest digital asset. The crypto market will maintain this momentum this week if macroeconomic factors remain favorable,” Shivam Thakral, CEO of BuyUcoin, told Gadgets360.
Among the cryptocurrencies with losses, Binance Coin, Leo and Braintrust registered their names on Monday.
“Overall, the market looks healthy right now, but this week will be crucial due to key US macro events such as job postings and unemployment rate announcements,” CoinDCX told Gadgets360.
Cryptocurrency is an unregulated digital currency, not legal tender, and is subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, business advice or any other advice or recommendation of any kind offered or endorsed by NDTV. NDTV shall not be liable for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.
