In cryptocurrencies, Bitcoin prices jumped today to trade above $ 47,000, according to CoinDesk, the world’s largest cryptocurrency by market cap rose more than 4% to 47 $ 103. Bitcoin has gained over 62% this year (YTD), however, it is well below its all-time high of $ 65,000 reached in April.
Ether, the coin linked to the ethereum blockchain and the second largest crypto, gained nearly 3% to $ 3,391. Cardano prices fell 0.4% to $ 2.38 while dogecoin rose 2% to $ 0.23. Other virtual tokens including Stellar, Uniswap, Litecoin, have also surged in the past 24 hours. Meanwhile, Solana was trading down 5% to $ 157.9.
Global crypto funds recorded the fourth consecutive week of influx last week, attracting $ 57 million, with cryptocurrency Solana alone pocketing $ 50 million, digital asset manager CoinShares said. Solana has become one of the top 10 crypto assets in the world with a market capitalization of around $ 50 billion.
For the week, Bitcoin funds remained stable with paltry inflows of $ 0.2 million, while Ethereum recorded minor outflows totaling $ 6.3 million. The trend towards diversification remains intact among investors, with entries in Cardano, multi-asset, Ripple and Polkadot totaling $ 3.5 million, $ 3.2 million, $ 3.1 million and 1, respectively. $ 7 million.
Meanwhile, Coinbase’s sale of Junk Bonds showed investors gave cryptocurrencies their biggest endorsement yet as Coinbase Global Inc. sold $ 2 billion in debt, as Bloomberg reported. . Coinbase is the second largest issuer of crypto-related junk bonds in the US market. MicroStrategy Inc., the software developer turning into an investor in digital assets, sold $ 500 million in tickets in June to fund the purchase of Bitcoin.
(With contributions from agencies)
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