Friday, Jul 01, 2022

Bitcoin Below Psychological Mark of $47,000, Shiba Inu On Upward Journey

Bitcoin (BTC) continued to trade well below its physiological mark of $47,000 with a marginal gain of 0.40 per cent, while Shiba Inu is up 2.83 per cent.

The prices of major cryptocurrencies were under-performing as investors book their profits and wait for further cues to buy. Bitcoin (BTC) continued to trade well below its physiological mark of $47,000 at $46,955.58 with a marginal gain of 0.40 per cent. Rival Ethereum is slightly down by 0.03 per cent at $3,919.29, showed data as of 8.45 am.

Meanwhile, in a big win for Cardano users, its native token ADA was accepted by Flexa for transactions at over 40,000 locations in the US, tweeted FlexaHQ. Flexa is a digital payment network that enables merchants on its network to accept cryptocurrencies as a payment method. Cardano (ADA) is trading with a loss of 0.68 per cent despite positive development regarding its use case. It is now available for $1.23.

Algorand, which is known as the Ethereum killer, was down by 3.04 per cent at $1.30. Its market cap now stands at $8,252,685,96.

Among other major coins, Binance Coin (BNB) is down by 1.49 per cent at $520.66, while Solana (SOL) crashed by 4.31 per cent to trade at $172.09.

The global crypto market cap has decreased by 0.26 per cent; it now stands at $2.19 trillion. The total crypto market volume over the last 24 hours is $94.73 billion, which is a 20.12 per cent increase, adding to an otherwise dull trading day. However, Bitcoin’s market cap vis-a-vis the overall crypto market cap has increased by 0.28 per cent at 40.57 per cent.

Today’s top gainer was Yeti Coin (YETI COIN), which was up 973.81 per cent at $11.59. The top loser was Hakuryu ($RYU), which is trading at $0.001342, a decrease in the price of 96.56 per cent in the last 24 hours.

Meme Coins

Dogecoin’s (DOGE) prices continue to fall downwards with trading volume rising as much as 54.51 per cent at $877,613,091. It is currently available for $0.1675, indicating a decrease of 1.28 per cent over the last 24 hours.

With strong buying interest, rival Shiba Inu is back with a bang. It is trading currently with a gain of 2.83 per cent at $0.00003137. Its trading volume is up by a massive 193.41 per cent at $1,824,775,353.

ELON is trading with a loss of 0.16 per cent at $0.000001036 and Floki Inu is down by 2.13 per cent at $0.0001179. Samoyed Coin (SAMO) has, however, crashed by 6.07 per cent at $0.04002.

Latest Updates

A top US Treasury official asked the US Congress to pass legislation regarding the ever-growing crypto market, she was quoted as saying in an interview to Bloomberg. “If Congress does not enact a legislation, the regulators will try to use what authority they have.”

Former President of Argentina Mauricio Macri met with Ethereum co-founder Vitalik Buterin and had a chat regarding the future of crypto in Argentina which is suffering from a high rate of inflation and massive devaluation of its currency. Buterin was in Argentina to participate in the anniversary event of The Graph, a decentralized protocol for indexing and consulting blockchain data, reported Bloomberg linea.