Cryptocurrency Update: Bitcoin price declines by 0.5%, Binance coin increases by 8%

Bitcoin prices went down by 0.5% and are currently trading at $45,551.90. The global cryptocurrency market gap stands at $1.88 trillion, an increase of 1.7% from the previous day.

Cryptocurrency continues to trade in the green on August 11. Bitcoin prices went down by 0.5% and are currently trading at $45,551.90. The global cryptocurrency market gap stands at $1.88 trillion, an increase of 1.7% from the previous day. The total crypto market volume stands at $109.07 billion, which was a 0.3 per cent increase over the previous day.

The data from CoinMarketCap suggest that the total volume in decentralized finance (DeFi)  is currently $11.43 billion, 10.48% of the total crypto market 24-hour volume. The volume of all stable coins was $85.34 billion – 78.24 per cent of the total crypto market 24-hour volume.

Ethereum saw an increase of 1.5% in the price. It is currently trading at $3,157.61, Binance coin is trading at $379.56, an increase of 8.2% from the last day. 

Analysts now eye the 100k for Bitcoin prices. Emilie Choi, President and Chief Operating Officer of Coinbase Global Inc. said in a Bloomberg TV interview, “Crypto is going to be a major source of tax revenue to fund infrastructure. “That actually is a very positive thing. It’s no longer a fringe thing, crypto has ultimately entered the mainstream here. This was a setback, there’s no doubt about it for this past week, but we’re playing the long game here.”

Cryptocurrency prices as of 9:25 a.m.

(Data sourced from CoinMarketCap)

  1. Bitcoin: Price- $45,551.9, 24-hour change: -0.5%, 7 day change: 20.11%
  2. Ethereum: Price – $3,157.61, 24-hour change: 1.5%, 7 day change: 26.85%
  3. Tether: Price – $1, 24 hour change: 0.01%, 7 day change: -0.01%
  4. Binance coin: $379.56, 24 hour change: 8.20%, 7 day change: 18.15%
  5. Dogecoin: Price – $0.2603, 24 hour change: 3.34%, 7 day change: 33.50%
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