There has been a tremendous increase in the price of the cryptocurrency in the last 24 hours. The price of bitcoin has reached close to $46 thousand with a gain of 5%. Along with this, the prices of other cryptocurrencies have also increased by 10%.
In the last 24 hours, there has been a significant increase in the prices of these currencies. Bitcoin is trading at $45,648. Ethereum is trading at $3,106 with a gain of 5.30%. Dogecoin is up by 3.53% while Polkadata is trading at $20.32 with a gain of 5.13%. Uniswap price is up 9.53%. It is at $28.69.
The primary reason for the rise in cryptocurrency prices is buying in the form of digital tokens. The top 10 cryptocurrency prices have increased because of this. The overall market cap of the cryptocurrency worldwide has however decreased by 5%. It has been Rs 133 lakh crore. Investors are constantly withdrawing money from cryptocurrency.
In fact, global regulatory scrutiny is increasing continuously. This has made investors cautious about investing in crypto. In the week ending August 6, 33 million dollars were withdrawn from bitcoin, the world's most popular cryptocurrency. In the previous week, an amount of $19.7 million was withdrawn. However, during this entire year, $4.2 billion has been invested in it.
The price of bitcoin is up 20% in the past week. This is the highest price since mid-May. There was a lot of selling in May. Despite this rise, investors remain cautious. This is because the US Treasury Services recommends reporting assets with transactions in excess of $10,000 to Internal Revenue Services.
Dogecoin has been the most talked-about currency this year. That's because Tesla CEO Elon Musk had talked about buying it. This year the currency had gained 12,000 percent. It had reached its highest price in May. At that time it has become one of the top 5 cryptocurrencies by market cap. However, since May, it is trading at a third lower price.
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