On Monday, July 1, Bitcoin showed an increase in prices on foreign as well as local exchanges. According to CoinMarketCap, the most expensive crypto asset rose 4.26 percent over the past day to trade at $63,373 (roughly Rs. 52.8 lakh) on international exchanges. Internationally, BTC was trading at $61,637 (roughly Rs. 51.4 lakh) on global exchanges last week. This is the first time in over a month that BTC has breached the $63,000 mark (roughly Rs 52.5 lakh). Meanwhile, on Indian exchanges like WazirX and CoinSwitch, the current value of BTC is $68,110 (roughly Rs. 56.8 lakh).
In July, Ether stepped up to trade at $3,491 (roughly Rs. 2.91 lakh) on foreign exchanges. Over the past week, ETH has managed to rise in price by $43 (roughly Rs. 3587). The value of ETH in India, meanwhile, is $3,236 (roughly Rs. 2.70 lakh) as shown on Gadgets360’s cryptocurrency price chart.
“The new EU Regulation on Markets in Crypto Assets (MiCA) has come into force, providing comprehensive legal and regulatory clarity for the digital asset market. MiCA aims to address the up-and-down cycles of the crypto industry and give euro-denominated stablecoins a chance to succeed,” CoinSwitch Markets Desk told Gadgets360, commenting on the market’s rise.
Most cryptocurrencies saw gains on July 1st, according to Gadgets360’s crypto tracker. These cryptocurrencies include Solana, Ripple, Cardano, Avalanche, Tron and Shiba Inu.
Profits also hit Polkadot, Near Protocol, Polygon, Stellar, Cosmos, Cronos and Bitcoin SV.
The total capitalization of the crypto market increased by 3.87 percent in the last 24 hours. At the time of writing, the valuation of the crypto sector is $2.33 trillion (roughly Rs. 1,94,40,413 crore), according to CoinMarketCap.
“With the US presidential debate showing that pro-crypto Trump has a better chance of winning the upcoming election, investors are optimistic about the future of the world’s largest digital asset. The crypto market will maintain this momentum this week if macroeconomic factors remain favorable,” Shivam Thakral, CEO of BuyUcoin, told Gadgets360.
Among the losing cryptocurrencies, Binance Coin, Leo and Braintrust registered their names on Monday.
“Overall, the market looks healthy right now, but this week will be crucial due to key US macro events such as job creation announcements and the unemployment rate,” CoinDCX told Gadgets360.
Cryptocurrency is an unregulated digital currency, it is not legal tender and is subject to market risks. The information provided in the article is not intended to constitute financial advice, trading advice or any other advice or recommendation of any kind offered or endorsed by NDTV. NDTV shall not be liable for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.
