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Anyone interested or invested in crypto has probably noticed a positive change in the market. Several cryptocurrencies are in the green all of a sudden, and this prompts the question, “Why is crypto going up?” Before we dive into the main reason, let’s look at two top performers in the new bullish market. Cryptocurrency trading prices Download The Economic Times News App to get Daily Market Updates & Live Business News.
Crypto up today
Best Robo-Advisors Cryptocurrency prices and charts Bitcoin surged in value Tuesday, extending a runup for the largest cryptocurrency even after failing to hold intraday highs.
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BNB is the cryptocurrency issued by Binance, one of the world’s largest cryptocurrency exchanges. BNB was originally created as a utility token built on the ethereum network that users could use to access discounted trading fees on the Binance exchange. But the token has since transitioned to Binance’s own blockchain. BNB can now be used for a wide range of transactions, applications and other use cases. Unfortunately, Binance’s U.S. market share tumbled in 2023 after the U.S. Securities and Exchange Commission sued the exchange and accused the company of violating securities laws. .chakra .wef-1c7l3mo.chakra .wef-1c7l3mo:hover,.chakra .wef-1c7l3mo.chakra .wef-1c7l3mo:focus,.chakra .wef-1c7l3moKathryn White Decentralized cryptocurrencies such as Bitcoin, have one substantial advantage - no single authority can control them. Instead, they are governed by an algorithm that’s pre-programmed and defined. This takes away the human factor and makes the entire network transparent and immutable.
What happened to crypto market today
There’s more. FTX couldn’t pay customers back because Alameda couldn’t pay FTX back, and Alameda couldn’t pay FTX back because its funds were tied up in those so-called Samcoins. Sure, this kind of market manipulation isn’t a new concept. Yet the tens of billions of dollars of these coins were worth, according to Alameda’s assets sheet, suddenly transformed into zero dollars for a reason: The tokens had no real value to start with. Crypto PMLA rule: How have Indian exchanges reacted to this? ETH price stood at $2,045.40, marking a 24-hour dip of 0.31 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.78 lakh.
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