Crypto Market in Green, Bitcoin Price More than USD 61,000

Bitcoin, the largest cryptocurrency in terms of market capitalization, had a rise of 3.15 percent on Wednesday. Its price on international exchanges was around $61,060. It was trading at around $64,570 on Indian exchanges. The reason behind the rise in Bitcoin is some improvement in the global political situation and increasing institutional interest in this segment.

However, Ether was down two percent. Its price had come down to around $2,452. The prices of Avalanche, Binance Coin, Ripple, Tron, Cardano, Near Protocol, Chainlink, Polygon and Stellar have increased. In the last one day, the market capitalization of crypto increased by about 2.50 percent to about $ 2.14 trillion.

Shivam Thakral, CEO of crypto exchange BuyUcoin, told Gadgets360, “Bitcoin’s share in the crypto market has increased to more than 56 percent. Bitcoin This trend has been strengthened by the approval of ETFs and the increase in stablecoin volumes. Increasing interest from institutional investors and regulatory clarity can increase investor confidence.” The market team of crypto app CoinDCX said, “The crypto market is bullish due to lower than expected PPI data in the US. “Market focus has shifted to CPI data.”

In the first half of the current year, the capitalization of the international cryptocurrency market increased by about 44 percent to $ 720 billion. The launch of Bitcoin ETFs earlier this year has accelerated the growth of this segment. According to a report by crypto exchange Binance, Bitcoin has registered growth between January and June this year. The main reasons behind this are the launch of Bitcoin ETF and the fourth halving of its network. The value of the second largest cryptocurrency Ether has also increased rapidly. About $17 billion has been invested in Bitcoin ETFs in the US. The average trading volume per day in these ETFs is approximately $2.3 billion. This year, Bitcoin made a new high level after almost three years. Its price reached more than $73,737 in March. The central government has no plans to regulate this segment. Rules have been made for the crypto segment in the European Union (EU) and UAE.