The crypto market appears to be bullish in terms of prices, with most cryptocurrencies reflecting gains on Wednesday, June 19. Bitcoin registered a small gain of 0.35 percent to trade at $65,573 (roughly Rs. 54.6 lakh), according to CoinMarketCap . This is the first time in weeks that Bitcoin has managed to reach and break the $65,000 (roughly Rs. 54 lakh) mark on international exchanges. Meanwhile in India, Bitcoin is trading at $71,915 (roughly Rs. 59.9 lakh) on exchanges such as WazirX and CoinDCX.
“While Bitcoin seems a little bearish on shorter time frames, it has been performing well on the weekly charts, indicating that the bull market is likely still ongoing. Bitcoin dominance also remains stable at around 55 percent,” the CoinSwitch Markets Desk told Gadgets360.
Ether fell 2.73 percent on Wednesday, according to crypto price tracker Gadgets360. At the time of writing, ETH was trading at $3,092 (approx. Rs. 2.57 lakh) on Indian exchanges and around $3,560 (approx. Rs. 2.96 lakh) on international exchanges. It is estimated that the price of Ether will rise, given the latest developments in the US.
“Ethereum developer Consensys has announced that the US Securities and Exchange Commission is concluding its investigation into whether ETH is a security and whether the sale of ETH constitutes a security transaction,” the CoinSwitch desk added.
Most cryptocurrencies posted gains on Wednesday. These include Tether, Binance Coin, Solana, Ripple, Dogecoin, Cardano, Shiba Inu, Avalanche and Tron.
Polkadot, Chainlink, Uniswap, Polygon and Near Protocol also saw smaller gains.
“In general, the market is slowly recovering from recent declines. Ethereum ETF issuers received SEC feedback on their S-1 forms last week, with a deadline to finalize them by this Friday,” Edul Patel, CEO of Mudrex told Gadgets360.
A small group of altcoins that reflected losses on Wednesday included Litecoin, Elrond, EOS Coin and Underdog.
According to CoinMarketCap, the total capitalization of the crypto market increased by 0.92 percent in the last 24 hours. This brings the valuation of the sector to $2.38 trillion (roughly Rs. 1,98,41,691 crores).
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