1 min read.Updated: 28 Jul 2021, 08:29 AM ISTLivemint
Trading volume of Ether grew faster than that of Bitcoin in the first half of the year, according to a report from US' biggest crypto exchange, Coinbase Global
Cryptocurrency prices today gained with Bitcoin surging over 8% to $39,937, CoinDesk data showed. Bitcoin prices have been gaining in the past few sessions amid speculation that Amazon may be entering the cryptocurrency sector and after comments from Ark Investment Management LLC’s Cathie Wood and Tesla Chief Executive Officer (CEO) Elon Musk helped boost its momentum.
Ether gained nearly 7% to $2,309 whereas Dogecoin jumped nearly 5% to $0.20. Other digital tokens like XRP, Cardano, Uniswap, Stellar, Litecoin also surged more than 4% over the last 24 hours. Both Bitcoin and Ethereum have rallied in the past week after sinking in May on worries about Bitcoin’s environmental impact and a regulatory crackdown in China.
Trading volume of Ether, the second-biggest cryptocurrency, grew faster than that of Bitcoin in the first half of the year, according to a report from US' biggest crypto exchange, Coinbase Global Inc, reported Bloomberg.
Looking at data from 20 major exchanges worldwide, Coinbase found that Bitcoin’s trading volume for the period reached $2.1 trillion, up 489% from $356 billion over the first half of last year. In the same period, Ether’s total trading volume reached $1.4 trillion, up 1,461% from $92 billion in the first half of 2020. This was the first sustained period of time ever for Ether’s trading pace to exceed Bitcoin’s, according to Coinbase.
In another news, Tesla Inc’s June quarter earnings showed that the US-based electric car company was still holding $1.3 billion worth of bitcoin on its balance sheet, putting to rest speculations that the company might have trimmed its position during the period.
Meanwhile, Amazon's job listing said that the company is looking for “an experienced product leader to develop Amazon’s Digital Currency and Blockchain strategy and product roadmap." However, Amazon in a statement rejected as “fabricated" a report that said it would be accepting payments in cryptocurrency by the end of the year, and that it could launch its own digital coin in 2022. But it did acknowledged that is exploring what the use of cryptocurrencies would look like on Amazon.