Bitcoin hits $65k as first ETF debut buoys cryptocurrencies

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Over the weeks we’ve got to see that the crypto market has been the hot cake for investors with the market capitalization gaining over 2.4 percent to reach more than $2.6 trillion.

Being the largest crypto currency, Bitcoin has gained an increase of 3.4 per cent to reach a price of $65,084. This increase has boosted the crypto market capitalization making it 1.226 trillion as of today.

Ethereum wasn’t left out too in the increase of crypto, according to analysis in binance ETH gained 8.40 per cent to make the price hit a mark of $4,176 and the market capitalization $490, 5 billion as of today.

XRP price gained aslo got an increase 3.81 percent to reach $1.14. The market capitalisation of XRP stands at $53.8 billion currently after this increase.

Also, cardano wasn’t left out; the price gained 3.9 percent to reach $2.25. Its market capitalisation has jumped to $73.7 billion with this increase.

However, the dogecoin (Doge) price has gone up on the coinmarket for the last 24hrs by 3.07 percent to reach $0.25. This increase in price, the market cap of doge has reached $33.2 billion.

Bitcoin is the latest hot cake for investors and the coin market and the first crypto exchange-traded fund (ETF) keeping the interest of investors toward cryptos. ProShares’ Bitcoin Strategy ETF, which started trading, has given investors options for buying and selling bitcoin through futures contracts rather than owning it directly.

The bitcoin ETF futures have become the first of their kind to gain regulatory approval in the US prior to the launch.
Analysis shows that the new move could multiple the price of bitcoin as ProShares ETF might attract solid inflows from investors boosting the price of bitcoin more than the current price.

Posted Using LeoFinance ^Beta