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Bitcoin, Ether, Binance Coin and other major cryptocurrencies were trading higher on Monday. The world’s largest cryptocurrency has risen nearly 4.51% in the past 24 hours to $ 34,512 at 0810 hours IST on June 28 on coinmarketcap.com Index. Bitcoin remained largely volatile last week amid a nationwide crackdown on cryptocurrency mining in China. Cryptocurrencies have fallen by half since reaching an all-time high in April.
The global cryptocurrency market cap rose 3.52% overnight to $ 1.38 trillion on Monday from the peak of around $ 2.6 trillion last month, according to coinmarketcap.com. “The massive selloff we saw last week appears to have subsided. As expected after such volatility, consolidation can be seen across the crypto spectrum. Bitcoin, the biggest contributor to the global crypto market capitalization currencies, started the day 5% higher than the day before. Ethereum also posted modest gains earlier in the day. The panic sell has subsided, and that’s an extremely positive sign for the markets, ” Edul Patel, CEO and co-founder of Mudrex, a global crypto trading platform.
Ether rose 4.32% in the last 24 hours to $ 1991.05. “An interesting fact about the Ethereum network is that network usage fees have been at their lowest for a year. This is a particularly good sign for network users, as it would likely increase adoption, which would lead to increased adoption. rising token prices, ”he added.
“Bitcoin has seen a spike in volatile prices over the past few days. Last week it hit a low of $ 28,600, has recovered a bit since then, and now assets are fluctuating between $ 30,000 and $ 35,000. If he maintains the support level we can expect a recovery from $ 38,000 to $ 40,000, otherwise we could see a further fall and prices could slide to the next support level of $ 22,000 ” ZebPay’s trade office said.
Take a look at the top cryptocurrencies and their prices on June 25 (data from coinmarketcap.com when posting):
Bitcoin $ 34,512 4.51 percent change in 24 hours
Ethereum 1992.40 $ 4.56 percent change in 24 hours
Binance Coin $ 287.13 Change 0.29% in 24 Hours
Cardano $ 1.32 1.37% change in 24 hours
Dogecoin $ 0.256 2.61 Percent Change in 24 Hours
XRP $ 0.638 2.47% change in 24 hours
Polkadot $ 14.96 0.74% change in 24 hours
Bitcoin Cash $ 475.44 1.56% change in 24 hours
USD Coin $ 1.00 -0.14% Change in Last 24 Hours
Litecoin $ 130.99 1.21 percent change in 24 hours
“The panic sell has calmed down and this is an extremely positive sign for the markets. Several investors jumped at the opportunity to buy the dips, which can be seen from the volumes traded. However, relatively new investors living in this space should keep in mind that major cryptocurrencies are likely to be constrained in the short term, ”Patel said.
While the cryptocurrency market is showing signs that it is not yet healthy, it also appears to be starting the healing process, a team from JP Morgan Chase & Co has said.
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