For cryptocurrency investors, it was a very important day. This news will undoubtedly make you happy if you are also interested in cryptocurrency. The cryptocurrency market was once again green on the morning of July 17, and the most significant development was that the price of bitcoin had surpassed $1,18,000 once again. Ethereum, on the other hand, has exploded today.
The cryptocurrency industry is experiencing a long-awaited surge, which has given investors fresh hope. The “Crypto Week” that is currently taking place in America, which is a topic of intense market discussion, is also thought to be one of the causes of this. The outcomes of this event, which began on July 14, could significantly affect the cryptocurrency industry in the years to come.
Slight but significant increase in the price of Bitcoin
As of 10:30 AM IST today, the price of Bitcoin has increased by 0.40% over the past day to $118,076.61. Over the past seven days, it has increased by 1.83%, and over the past month, it has increased by about 12.89%.
The 24-hour trading volume of Bitcoin is still about $24.92 billion, and the entire market capitalisation is currently $2.35 trillion. Right now, traders are keeping an eye out for chart breakout indications.
Ethereum showed its power, the fastest-growing currency
The true hero of the day was Ethereum. Its price has risen to $3,324.76, marking an incredible 6.27% gain in just one day. Ethereum’s market capitalisation has increased by 12.70% during the past week to $402.21 billion.
With a 32.41% increase in the past month, Ethereum is currently the currency with the greatest rate of growth. According to experts, Ethereum can possibly surpass $3,500 if the volume stays this way.
XRP, Dogecoin and Solana also showed strength
Today’s price of XRP was $3.01, a 3.61% increase. In India, it costs about ₹266.94. With its current price of $0.2074, Dogecoin has had a 5.37% increase. In India, DOGE was priced at ₹18.45. Speaking of Solana (SOL), its price increased by 4.28% to $169.40 today. In the Indian market, it is currently trading at ₹14,964.88.
Status of Binance Coin and Stablecoin
At $709.24, Binance Coin (BNB) was up 3.43% and had grown 9.41% over the previous 30 days. In India, the price of Binance Coin is approximately ₹62,391.
As usual, stablecoin Tether (USDT) stays steady at $1.00. Its 24-hour trading volume is $1.33 billion, and its market capitalisation is $160.31 billion.
What could the coming days be like for crypto investors?
At $2.35 trillion, the entire cryptocurrency market capitalisation is still robust. The two stocks with the biggest market gains today are Ethereum and XRP. According to experts, altcoins like Solana and BNB may also exhibit breakout moves in the days ahead if the volume and trend stay the same.
Positive indications from technical indicators right now give investors in cryptocurrencies faith that the future will be much better.
Disclaimer: This article is for informational purposes only. Any information provided here is not investment advice. The cryptocurrency market is highly volatile, so please consult your financial advisor before investing.
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