Cryptocurrency Price Today: Tether, Ether, and Bitcoin Losses, with Bitcoin Rising Above $62,000
The market was trading very flat today, according to the overall crypto chart. On Wednesday, May 29, there was a little increase of 1.28 percent in Bitcohttp://bitcoin.orgin. Because of this, the price of Bitcoin is presently $68,768 (around Rs. 57.2 lakh) on overseas exchanges such as CoinMarketCap. As for national exchanges, WazirX, CoinDCX, and CoinSwitch, prices for Bitcoin are now hovering around $71,770 (about Rs. 59.7 lakh). According to market experts, the impending US GDP Q release may cause more market turbulence in the days ahead.
The announcement that Mt. Gox was moving Bitcoin caused a lot of altcoins to drop, which in turn caused volatility in the cryptocurrency market. Although the short-term price behavior of bitcoin seems unclear, CoinDCX told Gadgets360 that it is still robust and positive.
According to the cryptocurrency price chart on Gadgets360, ether had a 1.42 percent price decline. According to CoinMarketCap, Ether was trading for $3,861 (about Rs. 3.21 lakh) at the time of writing. With the US approving ETH ETFs, increases in Ether prices are anticipated in the near future.
The proponents of Ethereum are reclaiming control as the two-month period leading up to the introduction of spot ETFs draws near. Ethereum has also seen a significant surge in daily trade volumes, with a 68 percent increase to around $17 billion (approximately Rs. 1,41,554 crore). The ZebPay trading desk informed Gadgets360 that “this renewed bullish sentiment appears to be driven by the anticipation of the ETF launch, indicating that investors are positioning themselves for potential further gains shortly.”
On the price chart on Wednesday, a greater number of cryptocurrencies showed minor gains than losses. On the profitable side of the cryptocurrency chart are Binance Coin, Ripple, Dogecoin, Shiba Inu, Cardano, Avalanche, Wrapped Bitcoin, Tron, and Near Protocol.
Moreover, Leo, Cosmos, Stellar, Bitcoin SV, and EOS Coin saw slight increases.
The market capitalization of the cryptocurrency industry increased by 1.70 percent on the previous day. As a result, its market value has reached $2.58 trillion, or about Rs. 2,14,83,982 crore.
“The cryptocurrency market remained erratic, with slight fluctuations in the values of BTC and ETH. Due to the erratic macroeconomic environment, the market is anticipated to stay unpredictable in the next weeks, BuyUcoin CEO Shivam Thakral told Gadgets360.