Crypto Market in Red, Bitcoin Price More than USD 59,000, Donald Trump Planning big for Crypto Industry
The price of Ether has decreased by 0.11 percent. According to Gadgets360’s crypto price tracker, it was at around $2,662. Apart from this, there was a decline in Solana, Polkadot, Cardano and USD Coin. Bullish cryptocurrencies included Litecoin, Cartesi and Bitcoin Hedge. in the last day crypto The market capitalization of was down by about 0.44 percent to about $ 2.08 lakh crore.
Shivam Thakral, CEO of crypto exchange BuyUcoin, told Gadgets360, “Not much is known about Donald Trump’s new crypto project. However, it is a sign of the growing interest and potential in cryptocurrencies.” 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 big 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. However, there has been a decline in it since last few months. The central government in the country has no plans to regulate this segment. The European Union (EU) and UAE have made rules for the crypto segment. Recently, in a written reply in the Lok Sabha, Minister of State for Finance Pankaj Chaudhary had said that there is no proposal to make a law to regulate the buying and selling of virtual assets in the near future. However, Financial Intelligence Unit (FIU) has been authorized for special purposes of surveillance such as anti money laundering.
