Bitcoin prices remains stuck
Read Time:2 Minute, 0 Second

BTC

BTC Remains Stuck at $31,000, While Most Altcoins Show Signs of Recovery

Despite daily market changes affecting other cryptocurrencies, the value of Bitcoin has remained relatively stable for several days. Despite a modest rise of 1.13 percent on Wednesday, June 8, Bitcoin was still trading at around $31,651 (approximately Rs. 24.5 lakh), according to Indian exchange CoinSwitch Kuber. On foreign exchanges, the world’s oldest cryptocurrency has also begun to show signs of revival. BTC prices are now hovering around $29,968 on Binance and Coinbase (roughly Rs. 23 lakh).

Ether made a slight profit of 1.95 percent on Wednesday morning, bringing its value to $1,891 (approximately Rs. 1.5 lakh), according to Gadgets 360’s crypto price tracker.

Binance Coin, Cardano, Avalanche, and Polygon have risen to the top of the crypto list as cryptocurrencies that are showing signs of recovery.

With little advances, the prices of Litecoin, Shiba Inu, and Uniswap also increased a little, bringing greens back to the crypto charts.

Graph

According to industry analysts, the current global economic recession has instilled a low-risk appetite among investors, which has led to skepticism about cryptocurrencies, leading the market to lose pace.

Read this also: Best Real Bitcoin Earning Games

The overall market capitalization of the cryptocurrency business is at $1.23 trillion (roughly Rs. 96,29,342 crore).

During these dark days, when individual investors are hesitant to participate in high-risk assets, the crypto market is dependent on major investors to finance the business.

Bitcoin prices list

Citadel Securities, a US electronic trading powerhouse, has opted to develop a “cryptocurrency trading ecosystem” with the help of high-frequency trading and market-making business Virtu Financial, demonstrating the rising institutional acceptance and embrace of crypto.

This project will bring together numerous industry actors and stakeholders to streamline access to liquidity pools for digital assets, which is a good indicator of the sector’s continuous march towards maturation and continuing growth.

The CoinDCX Research Team told Gadgets 360, “We are pleased by the creativity and progress we are witnessing in the field, and look forward to the day when crypto becomes a mainstay of global economies.”

Meanwhile, stable coins like Tether, USD Coin, and Binance USD are failing to cope with the financial turbulence created by the United States’ interest rate hike amid worries of a recession.

Read more: 7 Tips For Improving Your Phone Life

 

Happy
Happy
0 %
Sad
Sad
0 %
Excited
Excited
0 %
Sleepy
Sleepy
0 %
Angry
Angry
0 %
Surprise
Surprise
0 %
Spread the love

Leave a Reply

Your email address will not be published.