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Bitcoin Gained $40K, Tether Gains Over 17%: Why Cryptos Are Gaining?


Though cryptocurrency market of late has been highly volatile because of the China crackdown, there is currently seen momentum building up in the digital assets market. Now, the latest trigger being an array of backing from institutional players for the digital assets.

Bitcoin Gained $40K, Tether Gains Over 17%: Why Cryptos Are Gaining?

As of writing this copy, prices of the top cryptocurrency as from the Coindesk site- a platform or Blockchain news outlet are as following:

CryptocurrencyPrice% change in last 24 hour
USD Coin$0.9998-0.06%

Now even as Tether or USDT faces backlash, the crypto market is faring good. Remember Tether is facing several regulatory issues and the US Justice dept was unearthing whether Tether hid at the first place that its transactions were associated with cryptos.

Nonetheless bitcoin the most traded crypto in today's trade even scaled to $40K. The highs in the crypto were partially propelled owing to positive comments concerning cryptos by high profile institutional investors. Further there was news flows also on Amazon adopting the cryptocurrency mode of transaction.

Read more about: bitcoin cryptocurrency
Story first published: Wednesday, July 28, 2021, 14:49 [IST]
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