Cryptocurrency prices today were mixed with Bitcoin trading below the $24,000 mark. The world’s largest and most popular cryptocurrency Bitcoin was trading over 2% lower at $23,978. The global crypto market cap today was above the $1 trillion mark, even as it was down nearly 2% in the last 24 hours at $1.19 trillion, as per CoinGecko.
On the other hand, Ether, the coin linked to the ethereum blockchain and the second largest cryptocurrency, rose nearly a per cent to $1,894. Meanwhile, dogecoin price today was trading more than a per cent lower at $0.07 whereas Shiba Inu also fell marginally to $0.000012.
Other crypto prices’ today performance also declined as XRP, BNB, Litecoin, Chainlink, Tether, Polkadot, Tron, Avalanche, Stellar, Apecoin, Uniswap, Polygon prices were trading with cuts over the last 24 hours, however, Solana rose more than a per cent to $43.
Cryptocurrency derivatives trading on centralised exchanges rose to $3.12 trillion in July, a 13% monthly increase, researcher CryptoCompare said on Thursday, as crypto prices show signs of recovery from the recent market crash.
The derivatives market now makes up 69% of total crypto volumes, up from 66% in June, and helped push overall crypto volumes on exchanges to $4.51 trillion in July, CryptoCompare said.
BinanceUSD – a stablecoin issued by crypto exchange Binance – became more prominent in July, CryptoCompare said, with spot volumes for bitcoin-to-BinanceUSD trades overtaking bitcoin-to-dollar for the first time.
BlackRock Inc, the world’s biggest asset manager, has launched a spot bitcoin private trust for institutional clients in the United States, according to a blog post on its website. The trust will track the performance of bitcoin, offering direct exposure to the price of the digital currency, BlackRock said.
The crypto market plunged in May and June as worries about high inflation and Federal Reserve interest rate hikes prompted investors to ditch risky assets. Following the collapse of a major pair of tokens, some cryptocurrency lenders froze customer withdrawals, and several crypto firms have cut jobs. Prices have partly recovered, with bitcoin gaining 17% in July. Ether has risen to around $1,900 from its June low of $880 .
(With inputs from agencies)
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