Bitcoin is trading above $ 34,000; Ether, Cardano up more than 8%. Check the latest crypto prices

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Cryptocurrencies were trading with gains today after being nearly flat on Friday. The world’s largest cryptocurrency Bitcoin was trading well above the $ 34,000 mark, up about 5% to $ 34,700, data from CoinDesk showed. Despite the recent slide in crypto, Bitcoin is up about 19% this year (year to date).

Ether, the coin linked to the ethereum blockchain network, was trading 8% higher at $ 2,221. Dogecoin, on the other hand, was hovering around $ 25, up 3%. Other virtual tokens like Cardano also jumped over 8% while XRP, Litecoin and others were also trading with decent gains over the past 24 hours.

The rise in crypto prices comes after Elon Musk tweeted about cryptocurrency, specifically dogecoin, and got involved in sharing various references and memes about them.

In India, where households own more than 25,000 tons of gold, investment in crypto has grown from around $ 923 million in April 2020 to nearly $ 6.6 billion in May of this year, according to Chainalysis. . This is despite outright hostility to the central bank’s asset class and a proposed trade ban, Bloomberg reported.

The value of Indian digital holdings remains a fragment of its gold market. Still, the growth is clear, especially in trading – the four largest crypto exchanges saw daily exchanges jump to $ 102 million from $ 10.6 million a year ago, according to CoinGecko. The country lags far behind the $ 161 billion Chinese market, according to Chainalysis.

(With contributions from agencies)

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