Today's cryptocurrency prices: Bitcoin reaches a new high of above Rs 50 lakh.
Early on October 21, cryptocurrencies were trading in the green. The global crypto market cap grew 3.64 percent to $2.62 trillion in the last day. Over the last 24 hours, market volume increased by 24.45% to $113.80 billion.
The overall volume in Defi was $14.36 billion, accounting for 12.62 percent of the entire 24-hour volume in the crypto market. The overall volume of all stable coins reached $87.11 billion, accounting for 76.54 percent of the total 24-hour volume of the crypto market.
Around 8.25 a.m., Bitcoin was trading at Rs 50,40,223 with a 46.49 percent dominance. This was a 1.16 percent drop from the previous day.
On Wednesday, the cryptocurrency was hovering just below its all-time highs, as the first bitcoin futures-based exchange-traded fund was launched in the United States (ETF). At 1236 GMT, the world's most popular cryptocurrency was trading at $64,257, up slightly on the day and just shy of its all-time high of $64,895.22 set on April 14. On Tuesday, late in the US session, it reached a high of $64,499 dollars.
The ProShares Bitcoin Strategy ETF began trading on Tuesday, a step that market players believe will spur investment into the digital commodity. On Tuesday, the ETF closed up 2.59 percent at $41.94, with about $1 billion worth of shares traded on the ICE.N Arca platform of Intercontinental Exchange Inc.
According to analysts, the ETF will certainly make cryptocurrency more accessible to individual investors. "It has the potential to draw flows from investors who prefer the convenience of an ETF to the perceived risk of an exchange," Martha Reyes, head of research at crypto exchange Bequant, said.
According to Reuters, a Senate report says Australia has to establish new laws for digital asset miners, including tax breaks and a licensing scheme for crypto exchanges, in order to be "competitive with Singapore, the UK, and the US."
The Senate's Committee on Australia as a Technology and Financial Centre released a report on Wednesday that calls for further clarification on when banks can refuse to work with a corporate customer that is involved in bitcoin.
These are the values of the main cryptocurrencies as of 8.25 a.m. on October 21.
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