The crypto market appears to be on the rise in prices, with most cryptocurrencies reflecting gains on Wednesday, June 19. Bitcoin registered a small gain of 0.35 percent to trade at $65,573 (roughly Rs. 54.6 lakh), according to CoinMarketCap. . This is the first time in weeks that Bitcoin has managed to touch and cross the $65,000 (roughly Rs. 54 lakh) mark on international exchanges. Meanwhile, in India, Bitcoin is trading at $71,915 (roughly Rs. 59.9 lakh) on exchanges like WazirX and CoinDCX.
“While Bitcoin looks slightly bearish on shorter time frames, it is performing well on the weekly charts, indicating that the bull market is likely still underway. Bitcoin's dominance is also holding steady at around 55 percent” , the CoinSwitch Markets Desk told Gadgets360.
Ether fell 2.73 percent in value on Wednesday, according to crypto price tracker Gadgets360. At the time of writing, ETH was trading at $3,092 (approx. 2.57 lakh) on Indian exchanges and around $3,560 (approx. 2.96 lakh) on international exchanges. It is estimated that the price of ether will increase, taking into account the latest development around it in the US.
“Ethereum developer Consensys has announced that the US Securities and Exchange Commission is ending its investigation into whether ETH is a security and whether sales of ETH constitute security transactions,” the CoinSwitch desk added.
Most cryptocurrencies posted gains on Wednesday. These include Tether, Binance Coin, Solana, Ripple, Dogecoin, Cardano, Shiba Inu, Avalanche and Tron.
Polkadot, Chainlink, Uniswap, Polygon and Near Protocol also posted minor gains.
“Overall, the market has been slowly recovering from recent declines. Ethereum ETF issuers received comments from the SEC on their S-1 forms last week, with a deadline to complete them this Friday,” Edul Patel, CEO of Mudrex told Gadgets360.
The small group of altcoins that reflected losses on Wednesday includes Litecoin, Elrond, EOS Coin and Underdog.
According to CoinMarketCap, the global crypto market capitalization increased by 0.92 percent in the last 24 hours. With this, the valuation of the sector has reached $2.38 trillion (roughly Rs. 1,98,41,691 crore).
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