Crypto Price Today Live: Bitcoin Stays Below $20,000; Ethereum Rises 4%

by Arthur · September 5, 2022

Crypto Price Today Live: Bitcoin Stays Below ,000; Ethereum Rises 4%

New Delhi: Cryptocurrencies traded mixed in the last 24 hours due to lack of directional signals.

Bitcoin was trading at $19,776.60, down 0.43 percent in the last 24 hours. The largest cryptocurrency measured by market capitalization has fallen 2.07 percent in the past week.

Analysts said Bitcoin continues to show resilience around $20,000, but that is being tested as risk aversion sweeps through the market. They said a significant breach of this level could send the cryptocurrency to June lows of around $17,500.

Ethereum rose 3.98 percent to $1,638.43, snapping its seven-day gain to 6.7 percent.

BNB rose 0.58 percent to 280.45 dollars. This crypto has fallen 2.26 percent in the last seven sessions. Cardano fell 1.11 percent while Solana increased by 1.50 percent in the last 24 hours. Shiba Inu fell 1.54 percent while Polkadot and Dogecoin traded flat.

The global cryptocurrency market capitalization was traded at $988.73 billion, rising 0.69 percent in the last 24 hours. Total trading volume was up 33.64 percent 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 existing user balances and new deposits of USD Coin (USDC), Pax Dollar (USDP) and True USD (TUSD) into its own stablecoin. The move is intended to increase liquidity and capital efficiency for users, the company said in a statement. Binance said it will remove and halt all trading on spot pairs that include USDC, USDP and TUSD; it will start the conversion on September 29.

Cryptocurrency critics, including economists and researchers, will gather in London and online this week to convey their message to regulators about the booming but volatile sector. A number of governments have expressed concern over cryptocurrencies, but those behind the first Crypto Policy Symposium say they hope the event will lead to much more “critical discourse” from the sector.

Crypto exchanges are now required to notify UK authorities of any suspected sanctions violations under new regulations introduced in response to concerns that bitcoin and other crypto assets are being used to evade restrictions imposed in response to Russia’s invasion of Ukraine.

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