While the regulatory risks continues to linger from across the globe, cryptocurrencies for now are showing varied price movements. As at Indian time 7:05 am, while some are up in trade by a hefty up to over 15%, others including the heavily traded Bitcoin and Ethereum are still trading lower.
As per the Bitcoin news outlet Coindesk that compiles a list of top 20 crypto assets there was seen maximum strength in The Graph crypto, likewise the maximum drag was on the Aave crypto.
Latest developments around Bitcoin
As per Bitcoin.com, the site that offers comprehensive information on Bitcoin, the Chainbytes i.e. a bitcoin ATM providing company is setting up a bitcoin ATM manufacturing hub in EI Salvador after the country has made bitcoin a legal tender there.
In another post the site mentions that as per the survey conducted by foreign investment bank JP Morgan on as many as 1000 investors from 1500 institutions, 49% believe that cryptocurrency is either "rat poison squared," the term used by Berkshire Hathaway CEO Warren Buffett to describe bitcoin, or "a temporary fad."
For the Dogecoin gains as per Forbes.com "Support for the joke coin remains strong on social media channels, with members of the self-professed "Doge Army" noting that it is still the eighth largest cryptocurrency by market cap".
Notably, while the meme crypto zoomed a great it also tumbled harder and has almost lost 74% in value since hitting its all time high on May 8.