Bitcoin prices above $40,000; ether, dogecoin also gain. Check crypto rates1 min read . Updated: 30 Jul 2021, 07:59 AM IST
- Bitcoin prices are up 37% this year (year-to-date), though, remains far below its mid-April high of almost $65,000
In cryptocurrencies, Bitcoin prices were trading above $40,000 as the world's largest crypto by market capitalization was up over 1% to $40,123. Bitcoin prices have been in the upward trend in the recent sessions on positive comments from billionaire Elon Musk and Ark Investment Management's Cathie Wood, along with speculation over Amazon’s potential involvement in the cryptocurrency sector. It is up 37% this year (year-to-date), though, remains far below its mid-April high of almost $65,000.
Ether, the coin-linked to ethereum blockchain and dogecoin were up over 6% and 2% to $2,430 and $0.20 respectively. Other digital coins like Cardano, Uniswap, XRP, Stellar and Litecoin also surged over the last 24 hours.
The global crypto population doubled from 100 million to 200 million within a span of just four months, according to a report by cryptocurrency exchange Crypto.com. The report also showed that altcoin adoption was likely spurred by the influx of new users who were interested in tokens such as Shiba Inu (SHIB) and dogecoin (DOGE), among others.
On the other hand, trading volume of ether on global crypto exchanges surged 1,461% to $1.4 trillion in the first half of the calendar year against $92 billion during the same period last year, while total bitcoin volume reached $2.1 trillion, up 489% from $356 billion over the same period in 2020, according to a study by Coinbase Institutional.
According to the Coinbase, the first half of 2021 was one of the most active periods on record for crypto markets, resulting in new all-time highs in asset prices, user adoption, and trading activity.
(With inputs from agencies)
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