Bitcoin hits fresh all-time high of $73,000, Ether inches near record high; what fuelled rally in cryptos?
Bitcoin price touched a new high of $73,157.55 today, surging 46% in the last one month from $50,000 level.
Bitcoin price touched a new high of $73,157.55 today, surging 46% in the last one month from $50,000 level.
ETFs flows have crossed $42 billion since the SEC approval early this year.
Bitcoin records biggest single-day gain since October 2023; Ether follows with 1.87% surge
Bitcoin prices have risen 27% year-to-date, driven by spurt in activities in the spot bitcoin exchange traded funds (ETFs), which started in the U.S. in Jan 2024.
The introduction of 1% TDS in 2022 has led to an estimated loss of $420 million in potential government revenue due to migration of Indian crypto traders to overseas platforms.
Digital currencies continue to feed off speculative trends far from anything material.
Bitcoin and Ethereum are down 75% from their all-time highs in November 2021; some experts believe that cryptos will bounce back in the coming months.
Indians generally buy precious metals like gold during Diwali, but with changing times millennials are taking interest in cryptocurrencies to earn lucrative returns.
Crypto worth $718 million stolen from DeFi protocols in October so far. Of the total 11 hacks in October, four hacks were reported on Oct 12 alone.
The new consensus mechanism adopted by the crypto is yet to be fully tested for resilience and hidden vulnerabilities.