Bitcoin was trading at $19,776.60, down 0.43% in the past 24 hours. The largest cryptocurrency by market capitalization has fallen 2.07% over the past week.
Analysts said Bitcoin continued to show resilience at around $20,000, but was being tested as risk aversion swept the market. They said a significant break of this level could send the cryptocurrency to June lows of around $17,500.
Ethereum rose 3.98% to $1,638.43, taking its seven-day rise to 6.7%.
BNB edged up 0.58% to $280.45. This crypto has fallen by 2.26% in the last seven sessions. Cardano was down 1.11% while Solana added 1.50% in the past 24 hours. Shiba Inu fell 1.54% while Polkadot and Dogecoin traded flat.
The global cryptocurrency market capitalization traded at $988.73 billion, up 0.69% in the past 24 hours. Total trading volume increased by 33.64% to $64.69 billion.
Crypto in the News
- Binance, the world’s largest crypto exchange, said it is introducing “BUSD Auto-Conversion”, which will be used to convert all existing user balances and new deposits into USD Coin (USDC), Pax Dollar (USDP ) and True USD (TUSD) in its own stablecoin. The move aims to improve liquidity and capital efficiency for users, the company said in a statement. Binance said it will remove and cease all trading in spot pairs including USDC, USDP, and TUSD; he will begin the conversion on September 29.
- Cryptocurrency critics, including economists and researchers, will meet in London and online this week to deliver their message to regulators on the booming but volatile sector. A number of governments have expressed concerns about cryptocurrencies, but those behind the first Crypto Policy Symposium say they hope the event will elicit a “much more critical discourse” from the industry. .
- Crypto exchanges are now required to notify UK authorities of any suspected breaches of sanctions under new regulations introduced in response to concerns that bitcoin and other crypto assets are being used to dodge restrictions imposed in reaction to the pandemic. Russian invasion of Ukraine.
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