Crypto Price Today Live: Ethereum, Polygon, Solana, Avalanche gain up to 12%

Synopsis

All top crypto tokens were trading higher during the early hours on Friday. Polygon zoomed 12 per cent, while Avalanche and Solana gained 8 per cent each. Ethereum and BNB added 5 per cent each.

New Delhi: Absorbing the aftershocks of Tesla’s decision to sell Bitcoin, the crypto market was back in the green on Friday, with the largest token – Bitcoin – reclaiming the $23,000 levels.

Going ahead, it is the US Fed action that will decide the path for this new-age asset class. The Fed is scheduled to meet next week, with the market expecting a 75 basis point rate hike.

All the top crypto tokens were trading higher during early hours on Friday. Polygon zoomed 12 per cent, whereas Avalanche and Solana gained 8 per cent. Ethereum and BNB added 5 per cent each.
Presented By

Did you Know?

The Shiba Inu team launched a burn portal to help address the issue of the massive supply of SHIB tokens As of June 29, 2022, more than 400 trillion tokens have been burned to cap supply

View Details »
The global cryptocurrency market cap was trading higher at the $1.06 trillion mark, rising more than 3 per cent in the last 24 hours. However, the total cryptocurrency trading volume plunged over 24 per cent, close to $73.18 billion.


What’s cooking in India
Crypto as a means of payment is a logical extension of fintech companies but challenges lie in its usage as an asset class and an alternative to currency, Minister of State for Electronics and IT Rajeev Chandrasekhar said.

Speaking on the sidelines of the Fintech Festival, Chandrasekhar said the whole world is grappling with the issue of crypto and has to come to an understanding on the ways and means to address it.

Expert take
In the past 24 hours, the crypto market was a bit silent as investors and traders digested the recent gains. Despite the slight drop, Bitcoin has been trading above $23,000, said Edul Patel, CEO and co-founder of Mudrex.

“If bulls can make a move, one can expect BTC to trade at the $24,000 mark soon,” he added. “The second largest cryptocurrency, Ethereum, continued on the winning streak ahead of the Merge, trading above the US$1,500 level.”

Global updates

  • KuCoin, a global leading crypto exchange, announced that it had secured a strategic investment of $10 million from Susquehanna International Group (SIG), one of the largest quantitative trading firms.

  • An old Wall Street mantra says when investors collectively feel worse and hold cash, most of the price drop has already happened. Then, selling stalls, eventually paving the way for a new bull run.

  • The US Department of Justice (DOJ) charged former Coinbase product manager Ishan Wahi, his brother Nikhil Wahi and Sameer Ramani on allegations of wire fraud and insider trading.

  • Tesla opting to sell 75 per cent of its bitcoin holdings is unlikely to have a significant impact on whether other firms will be adding crypto to their corporate treasuries.

  • Singapore-based crypto exchange Zipmex said in a Facebook post offering further details on a deposit-withdrawal pause announced earlier this week that it lent money to the troubled crypto lenders Babel Finance and Celsius.

Presented By

Crypto Returns Calculator

0x1inchAaveAirSwapAlgorandAlien WorldsAmbire AdExAnkrApeCoinAugurAvalancheAxie InfinityBancorBand ProtocolBasic Attention TokenBinance CoinBitcoinBitcoin CashCOTICardanoCeler NetworkChainlinkChilizChromiaCivicCompoundCosmosCurve DAO TokenDFI.moneyDIADaiDashDecentralandDigiByteDogecoinEOSElrondEnjin CoinEthereumEthereum ClassicEthereum Name ServiceFantomFetch.aiFilecoinGASGalaGolemHarmonyIOSTInternet ComputerIoTeXJasmyCoinKyber NetworkLitecoinLivepeerLoopringMakerMetalMy Neighbor AliceNEMNEONKNNanoNumeraireOmiseGOOrigin ProtocolPax DollarPolkadotPolygonPolymathPower LedgerQuantstampQuarkChainRepublic ProtocolRequestRippleShiba InuSolanaStatusStellarStorjSushiSwipeSynthetix Network TokenTerra 2.0TetherTezosThe GraphThe SandboxTheta FuelTheta NetworkThresholdTronTrue USDUMAUSD CoinUniswapVeChainWavesZilliqaaelfdistrict0xiExec RLCyearn.finance

Bought onCurrent Value Buy Print EditionPrint EditionFriday, 22 July, 2022Experience Your Economic Times Newspaper, The Digital Way!Read Complete Print Edition »

  • Front Page
  • Pure Politics
  • Brands & Companies
  • Companies: Pursuit of Pro…
  • More
    • Carlyle, Advent Close in on $1b Yes Bank StakeCarlyle, Advent Close in on $1b Yes Bank Stake

      Yes Bank’s plan to bring Carlyle and Advent on board as equity investors for about $1 billion has gathered pace, following the proposed sale of the lender’s stressed assets to JC Flowers Asset Reconstruction Company and the constitution of a new board, said people in the know.

      Droupadi Murmu Becomes India’s 1st Tribal PresidentDroupadi Murmu Becomes India’s 1st Tribal President

      The NDA’s decision to field a tribal woman as its presidential candidate appears to have paid dividends, with as many as 17 opposition MPs and 126 MLAs cross-voting for Droupadi Murmu, who defeated the opposition candidate Yashwant Sinha late Thursday evening to be elected the 15th President of India.

    Source

    Updated: 07/22/2022 — 17:00