Bitcoin Below $24,000; Ether Sole Gainer Amid Profit-Booking

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Cryp­tocur­ren­cy Prices Today: A day after ral­ly­ing, major cryp­tocur­ren­cies trad­ed in red on Fri­day as the cryp­to mar­ket saw some prof­it book­ing. The world’s largest and most pop­u­lar cryp­tocur­ren­cy Bit­coin was trad­ing below $24,000, where­as Ethereum held at the $1,900 mark ahead of its much-await­ed merge buzz. The total cryp­to mar­ket vol­ume decreased 1.57 per cent to $85.24 bil­lion over the last 24 hours.

The cryp­to industry’s lat­est indig­ni­ties includ­ed a report that India reg­u­la­tors were inves­ti­gat­ing at least 10 cryp­to exchanges for alleged­ly assist­ing for­eign firms to laun­der mon­ey via crypto.

Top cryp­to tokens were trad­ing mixed on Fri­day. BNB, Polka­dot, and Uniswap dropped 2 per cent each, where­as Bit­coin shed a per cent. Ethereum was the sole gain­er among major cryptocurrencies.

Mean­while, 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 per cent in July. Ether has risen to around $1,900 from its June low of $880.

In oth­er news, the Enforce­ment Direc­torate (ED) has con­duct­ed search­es on one of the Direc­tors of M/s Zan­mai Lab Pvt Ltd which owns the pop­u­lar Cryp­to-cur­ren­cy exchange WazirX and has issued a freez­ing order to freeze their Bank bal­ances to the tune of Rs 64.67 crore. ED has been con­duct­ing Mon­ey Laun­der­ing inves­ti­ga­tion against a num­ber of Indi­an NBFC com­pa­nies which are in the busi­ness of Online Instant Micro Loans. ED inves­ti­ga­tion revealed that var­i­ous fin­tech com­pa­nies backed by Chi­nese funds could not get NBFC license from RBI for car­ry­ing out lend­ing business.

Here are the top 10 cryp­tocur­ren­cies and their prices on August 12, 2022, Wednes­day, (Accord­ing to data from coinmarketcap.com)

Bit­coin $24,036.34 or 1.79 per cent loss in the last 24 hours

Ethereum $1,899.41 or 0.75 per cent gain in the last 24 hours

Teth­er $1.00 or 0.01 per cent loss in the last 24 hours

USD Coin $1.00 or 0.02 per cent gain in the last 24 hours

BNB $325.60 or 1.64 per cent loss in the last 24 hours

XRP $0.3786 or 0.66 per cent loss in the last 24 hours

Binance USD $1 or 0.05 per cent loss in the last 24 hours

Car­dano $0.5177 or 1.33 per cent loss in the last 24 hours

Solana $43.47 or 1.62 per cent loss in the last 24 hours

Polka­dot $8.70  or 2.08 per cent loss in the last 24 hours

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