This week, crypto exchanges WazirX, ZebPay, and CoinDCX saw a more than 100 per cent increase in cryptocurrency trading volume, as optimism returned to the world’s crypto markets. On average, the overall transaction volume on each exchange increased by 118 percent, up from $1.6 million on July 17 to more than $3.5 million on July 18.
Previously, the trading volume on WazirX, CoinDCX, and ZebPay had decreased by more than 10 per cent. Also, after the 1 per cent rule on tax deducted at source (TDS) came into effect on July 1, there was a significant drop in trading volume on Indian markets.
As of now, the volume of the global cryptocurrency market has increased to $1.12 trillion. Ether’s price has increased to $1,537, while Bitcoin is currently trading at around $23,437. The currency with the biggest gain is Polygon, which has increased by over 71 per cent to $0.912, the Financial Express reported.
Yesterday, Bitcoin increased its value by almost 5 per cent, breaking through the $23,000 mark for the first time in over a month. As trading volume increased, the MACD also rose over the “0” mark, signalling the beginning of a bearish cycle. The weekly RSI had previously bottomed below 30, but has since begun to rise.
In other news, Cadbury Gems has announced the debut of its first non-fungible token (NFT) collection. The chocolatier worked with the Blockchain platform GuardianLink to transform children’s artwork from throughout the nation into NFTs. The sale proceeds from the NFT will be donated to Save The Children for the educational needs of disadvantaged children, Business Today reported.
The price of Bitcoin in the cryptocurrency market rose by 7.16 per cent in the last 24 hours, and it was trading at $23,611.39 at 4:45 pm IST. According to Coinmarketcap.com, its dominance in the crypto market is currently at 42.23 per cent, up by 1.10 per cent in the last 24 hours.
Ethereum (ETH) was trading at $1,586.12, up by 2.99 per cent, while Binance Coin (BNB) was up by 8.81 per cent in the last 24 hours, and it was trading at $268.57. Solana (SOL) was up by 8.81 per cent to $41.61, while Cardano (ADA) was up by 8.80 per cent to $0.5309.
Dogecoin was trading at $0.07408 at 4:46 pm IST, up by 10.96 per cent on Coinmarketcap.com. Its rival, Shiba Inu, was up by 9.40 per cent, and it was trading at $0.00001288. Samoyedcoin was up by 1.21 per cent, and it was trading at $0.01146, while Dogelon Mars was up by 13.43 per cent, and it was trading at $0.0000003876.
According to Coinmarketcap.com, the global crypto market cap was at $1.07, an increase of 4.43 per cent in the last 24 hours, while the total crypto market volume was $106.47 billion, an increase of 1.82 per acenr per cent.
Read More:WazirX, CoinDCX, ZebPay See 100% Increase In Crypto Trade Volume This Week, Bitcoin Rises