Bitcoin maintains the level of $ 20,000, Ether also rises

The crypto market was bullish on Thursday. Bitcoin, the largest cryptocurrency by market capitalization, has gained nearly 1.4 percent in price. Whales have started buying in bitcoin and this is likely to push the price further. Bitcoin was priced around $20,350 on international exchanges and around $20,998 on Indian exchanges like CoinDCX.

Data from CoinGecko shows that the value of bitcoin is up about 4.4 percent last week compared to Thursday. Ether, the second largest cryptocurrency, has also remained bullish in the past one day. It was up about 1.48 per cent at around $1,350 on international exchanges and was up by around 2.39 per cent at around $1,428 on Indian exchanges. Ether has been gaining ground since the upgrade to the Ethereum blockchain last month. This upgrade is expected to speed up transactions and significantly reduce energy consumption. In this, the developers of Ethereum have re-coded its mining protocol from Proof-of-Work (PoW) system to Proof-of-Stake (PoS). More than $100 billion of decentralized finance (DeFi) apps are supported on this blockchain, and because of this, the upgrade has been cautious. The upgrade may also bring relief to investors in the crypto derivative token called stETH.

Gadgets 360’s cryptocurrency price tracker shows that most altcoins have increased in price. The global market capitalization of crypto has also increased by about 0.9 percent. Avalanche, Cardano, Solana, Polygon, TRON, Monero, Chainlink and BNB were bullish in the last one day. Mimecoins, Dogecoin and Shiba Inu have also increased somewhat. Dogecoin was priced at $0.06 and Shiba Inu at $0.0000012.

In November last year, bitcoin made a high of over $67,000. Since then it has declined significantly. Investors as well as the firms associated with this segment have suffered a big loss due to the fall in its price. Regulators in many countries have also warned investors about cryptocurrencies. This has also increased the pressure on the market. The default of some crypto firms has also raised apprehensions about this market. Fast food chain McDonald’s has added Bitcoin and Tether as payment options. However, these payment options are initially for outlets located in Lugana, Switzerland.

Cryptocurrency prices in Indian exchanges

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