Bitcoin, the largest cryptocurrency was trading in the green at $43,059.22, up 1.48 per cent. The Bitcoin tanked 1.76 per cent over the last one week. The market cap of the virtual currency stood at $810.57 crore. Another positive news for cryptocurrency that said to have boosted the sentiment, Switzerland’s financial markets supervisor said on September 29 that it had approved the country’s first fund that invests primarily in crypto assets, as reported by Reuters.
The Crypto Market Index Fund is restricted to qualified investors and categorised under “other funds for alternative investments” with particular risks, the Swiss Financial Market Supervisory Authority (FINMA) said in a statement.
“The past 24 hours remained largely range bound for the cryptocurrency market. The largest cryptocurrency by market capitalisation, Bitcoin, hovered around the $41,500 mark. It was the same story for the largest altcoin, Ethereum. The star performer of the day was Binance Coin, which is the native token of the cryptocurrency exchange, Binance. BNB moved more than 11 per cent. The market is currently shaky and Bitcoin dominance has gone higher. This might not be the perfect time to go long on Bitcoin as we the bears are on their toes and waiting for an opportunity to bring the market down. However, we might see some bullish reversal among the altcoins over the coming few days. The total crypto market cap went past the $1.85 trillion mark and the total traded volumes increased more than 1.5 per cent over the past 24 hours,” Edul Patel, CEO and Co-founder, Mudrex- A Global Crypto Trading Platform said.
The rival currency Ethereum was trading at $2,971.96, up 1.38 per cent. Ethereum was down 3.77 per cent over the last one week. The market cap of Ethetreum was at $335.21 billion. The Binance coin was at $373.00, up 0.99 per cent
“The battle between the bears and bulls continues, which is probably why ETH has been in a consolidating phase, over the past few days, trading in a range bound fashion. The overall pessimistic views in the marketplace, has led to investors growing increasingly cautious, and many have chosen to book profits during the fall. China’s crackdown significantly impacted ETH, which fell by 14%, almost immediately after the news came in. Volumes have shown good traction, as at current prices the asset does look fairly attractive. Institutional inflows into ETH have reduced, but given the looming uncertainty and volatility currently, this is like a short term occurring,” as per the ZebPay Trade Desk.
Here are the top cryptocurrencies and their prices on September 30, 2021 (data from coinmarketcap.com while publishing the article)
Bitcoin – $43,059 with a change of 1.48 per cent over the last 24 hours
Ether – $2,971 with a change of 1.38 per cent over the last 24 hours
Cardano – $2.08 with a change of -2.62 per cent over the last 24 hours
Binance Coin – $373.39 with a change of – 0.57 per cent over the last 24 hours
Solana – 136.50 with a change of -1.93 per cent over the last 24 hours
Polkadot – $27.87 with a change of -7.68 per cent over the last 24 hours
Dogecoin – $0.2006 with a change of -0.05 per cent over the last 24 hours