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

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

However, Ether fell by two percent. Its price fell 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 around $2.14 trillion.

“Bitcoin’s share in the crypto market has grown to over 56 per cent,” Shivam Thakral, CEO of crypto exchange BuyUcoin, told Gadgets360. Bitcoin This trend has been strengthened by the approval of ETFs and the increase in the volume of stablecoins. Increasing interest of 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. The market focus has shifted to CPI data.”

In the first half of the current year, the capitalization of the international cryptocurrency market grew 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. There has been an investment of about $17 billion in Bitcoin ETFs in the US. The average trading per day in these ETFs is about $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.