Al Ain News
Today, Monday, June 13, 2023, digital currency prices saw an almost massive collapse with Bitcoin’s rebound.
The market capitalization of digital currencies fell to $1.04 trillion.
Meanwhile, the value of trading in digital currencies increased in the last 24 hours, registering $26.64 billion.
Cryptocurrencies were held hostage to the fallout from the Federal Reserve’s decision to raise interest rates by another 25 basis points to combat inflation, the tenth consecutive increase since March last year.
From a macroeconomic perspective, high interest rates drive investors away from riskier assets like stocks and cryptocurrencies because borrowing becomes more expensive, making money more expensive and discouraging more speculative investments.
The White House released a statement promoting the idea of a tax on Digital Asset Mining Energy (DAME).
All cryptocurrencies are taxed even though miners have different levels of energy consumption.
What is the price of bitcoin today?
During today’s trade, the price of Bitcoin rose 0.22% to $25,787.4 on June 13, 2023.
The market capitalization of the world’s most popular cryptocurrency has risen to $501 billion.
Over the past 24 hours, Bitcoin trading volume has risen to $11.53 billion.
In the last 7 days, Bitcoin has lost about 3.97% of its value.
What are cryptocurrency prices today?
The price of Ethereum ETH is down 0.76% today to $1738.20.
The price of Binance coin BNB fell by 4.22% to $226.51.
The price of Ripple XRP increased by 1.80% and was recorded at $0.51499.
Cardano rose 1.83% to $0.2684.
Dogecoin coin price decreased by 1.78% to reach $0.060542.
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