Why is crypto active today? Reason for the rise in the cryptocurrency market and the prices of Bitcoin, Ethereum and XRP

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El Salvador became the first country to accept Bitcoin as legal tender, with the government offering $ 30 (22) in Bitcoin to every citizen who downloads the state’s digital wallet app.

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It recently sparked a huge crash when the country’s central bank, the People’s Bank of China, effectively banned digital coins by making all transactions illegal.

Still, the crypto market has recovered and has seen long-term gains when analyzing valuations since the start of the year – which is why crypto is on the rise today.

Why is the crypto market on the rise today?

At the time of writing, the crypto market is up 1.85% today when looking at trends over the past 24 hours (12:30 p.m., September 30, 2021).

Despite some setbacks, reports are surfacing of steps crypto miners are taking to reduce the impact on the environment.

Digital coins like Cardano and XRP have positioned themselves as greener alternatives to the larger tokens already established in the market.

El Salvador became the first country to accept Bitcoin as legal tender, with the government offering $ 30 (22) in Bitcoin to every citizen who downloads the state’s digital wallet app.

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What is the price of Bitcoin and Ethereum?

As of September 30, 2021 at 12:30 p.m., Bitcoin and Ethereum prices are as follows:

Bitcoin + 2.95% (32,152.99) Ethereum + 3.13% (2,231.26)

The market valuation of a Bitcoin token has increased by 282.58% over the past 12 months, despite daily fluctuations in its price.

Over the past seven years, the price of a Bitcoin has climbed 46,464.91%.

Ethereum saw similar gains, with an increase of 687.47% in the past 12 months and a 281,276.87% increase in market value in five years.

What other cryptocurrencies are available today?

Among the most traded cryptos right now, Binance Coin, XRP, Avalanche, Chainlink, Litecoin, Bitcoin Cash, Wrapped Bitcoin, Polygon, and Internet Computer are all being traded.

If you are planning to invest in crypto coins, please note:

The value of investments is variable and may increase or decrease. If you have been approached by a trader promising high returns, this is a scam. Always make sure the seller is registered with the UK Financial Conduct Authority (FCA). Many cryptocurrency sellers are not. A list of registered traders is available on the FCA website. This article contains affiliate links, although this does not affect our editorial judgment.

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