In cryptocurrencies, the world’s largest and most popular digital token Bitcoin was trading more than 4% higher at $20,208. After surging to an all-time high of almost $69,000 in November last year, Bitcoin’s price has been trading in a narrow range of around $20,000 since June this year.
The global crypto market cap today bounced back above the $1 trillion mark, as it was up more than 5% in the last 24 hours at $1.02 trillion, as per CoinGecko.
On the other hand, Ether, the coin linked to the ethereum blockchain and the second largest cryptocurrency, also surged by more than 11% to $1,485. Meanwhile, dogecoin price today was trading over 8% higher at $0.06 whereas Shiba Inu was also about 4% up to $0.000010.
Other crypto prices’ today performance also improved as Avalanche, Binance USD, Chainlink, Tether, ApeCoin, Solana (up 10%), Cardano (up 10%), Polygon, XRP, Terra, Stellar, Uniswap, Tron, Litecoin, Polkadot prices were trading with gains over the last 24 hours.
“BTC has constantly tested the $19,000 support level for a while before rising above $20,000. Similarly, ETH tried to beat the $1,300 support level, but it stayed strong and is currently close to $1,500. The momentum is likely to continue shortly as well. A part of this upward movement can be attributed to the election of Rushi Sunak as the UK’s Prime Minister. His stance towards digital assets could lead to regulatory clarity in the UK,” said Edul Patel, CEO and Co-founder of Mudrex.
Apple Inc. updated its App Store guidelines Monday with new and clearer language explaining its policy toward cryptocurrency trading and non-fungible tokens.
The company has no issue with crypto exchanges or any other apps that allow the trading of digital tokens and currencies, provided those exchanges have the requisite regional licenses to operate where the app is distributed. But in order for apps to sell NFTs and related services, they’ll have to go through Apple’s in-app purchase systems and “may not include buttons, external links, or other calls to action that direct customers to purchasing mechanisms other than in-app purchase.”
Bitcoin has traded in near lockstep with risk assets in the past couple of years, as pandemic-era stimulus flooded the global economy, and then as central banks like the Federal Reserve hiked rates to combat worsening inflation.
(With inputs from agencies)
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