Bitcoin saw price growth on both foreign and local exchanges on Monday, July 1. According to CoinMarketCap, the most expensive crypto asset grew by 4.26 percent over the past day and was traded at a price of $63,373 (approximately Rs. 52.8 lakh) on international exchanges. Internationally, BTC was traded at $61,637 (approximately Rs. 51.4 lakh) on global exchanges last week. This is the first time in over a month that BTC has breached the $63,000 (approximately Rs. 52.5 lakh) mark. Meanwhile, the current value of BTC on Indian exchanges such as WazirX and CoinSwitch stands at $68,110 (approximately Rs. 56.8 lakh).
Ether started July trading at $3,491 (roughly Rs. 2.91 lakh) on foreign exchanges. Over the past week, ETH has managed to gain $43 (roughly Rs. 3,587) in price. Meanwhile, ETH’s value in India stands at $3,236 (roughly Rs. 2.70 lakh), as shown by Gadgets360’s crypto price chart.
“The new EU Markets in Crypto-Assets (MiCA) regulation has come into effect, providing comprehensive legal and regulatory clarity for the digital asset market. MiCA aims to address the crypto industry’s boom-bust cycles and give euro-denominated stablecoins a chance to succeed,” the CoinSwitch Markets Desk told Gadgets360, commenting on the market rally.
Most cryptocurrencies posted gains on July 1, as shown by Gadgets360’s crypto tracker. These cryptocurrencies include Solana, Ripple, Cardano, Avalanche, Tron, and Shiba Inu.
Polkadot, Near Protocol, Polygon, Stellar, Cosmos, Cronos and Bitcoin SV also posted gains.
The total crypto market capitalization increased by 3.87 percent in the past 24 hours. At the time of writing, the crypto sector valuation stands at $2.33 trillion (approximately Rs. 1,94,40,413 crore), which shows MintMarketCap.
“With the US presidential debate showing that pro-crypto Trump has a higher chance of winning the upcoming election, investors are optimistic about the future of the world’s largest digital asset. The crypto market will maintain this momentum this week if macroeconomic factors remain favorable,” Shivam Thakral, CEO of BuyUcoin, told Gadgets360.
Among the loss-making cryptocurrencies, Binance Coin, Leo and Braintrust registered on Monday.
“Overall, the market looks healthy now, but this week will be crucial due to major macroeconomic events in the US such as job announcements and unemployment figures,” CoinDCX told Gadgets360.
Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information contained in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any kind offered or endorsed by NDTV. NDTV is not responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.
