In this illustration representations of Bitcoin, Ethereum, Dogecoin, Ripple, Litecoin are placed on the PC motherboard.
• Global cryptocurrency market capitalization remains above the $1 trillion mark today, even though it was down more than one percent in the last 24 hours
Among cryptocurrencies, bitcoin, the world's largest and most popular digital token, was trading at $20,254, down more than 2%. Bitcoin broke above $20,000 for the first time in more than two weeks on Tuesday, ending its longest run below that price level since the coin breached the threshold for the first time in late 2020.
On the other hand, Ether, the coin tied to the Ethereum blockchain and the second largest cryptocurrency, also rose more than 3% to $1,524. Meanwhile, Dogecoin price was trading at $0.07 today, while the Shiba Inu also fell by almost 5% to $0.0000010.
Today's performance of other crypto prices also declined as Avalanche, Binance USD, Chainlink, Tether, Apcoin, Solana, Cardano, Polygon, XRP, Terra, Stellar, Tron, Litecoin, Polkadot with price cuts in the last 24 hours was trading, while Uniswap gained over 2%.
According to CoinGecko, the global crypto market cap remains above the $1 trillion mark today, even though it was down more than one percent in the past 24 hours at $1.03 trillion.
Meanwhile, Britain would have the power to regulate all cryptocurrencies under a proposal that the UK's financial services minister added to a draft law before parliament that will almost certainly pass, Reuters reported. Andrew Griffith, reappointed as City Minister by Britain's new Prime Minister Rishi Sunak on Thursday, amended the Financial Services and Markets Bill, which Parliament has begun to approve.
Bitcoin has traded with riskier assets almost in lockstep over the past few years, as pandemic-era stimulus flooded the global economy, and then central banks such as the Federal Reserve hiked rates to cope with worsening inflation. is of. After hitting an all-time high of around $69,000 in November last year, bitcoin price has been trading in a narrow range around $20,000 since June this year.
In another piece of news, Core Scientific Inc., one of the world's largest miners of bitcoin, warned that it could run out of cash by the end of the year and is seeking relief through bankruptcy protection, as Bloomberg reports. could. Bitcoin mining companies such as Core Scientific were recently opting to sell equities, resorting to one of their least lucrative options to raise money as profits dried up and higher interest rates made borrowing more expensive.
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