Today, on Friday, June 18, 2021, cryptocurrency market witnessed major cryptocurrencies trading lower down to 6% and this downfall in the prices of top cryptocurrencies has made investors to worry about this. For the last 72 hours, this market is witnessing this thing. Yesterday, on June 17, 2021, the value was down to 4% and today the percent has increased and reached to 6%.
Ethereum, Polkadot, Uniswap And Other Major Cryptocurrencies Down By 6%
Major cryptocurrencies continued to be in the red and this has happened as the US regulators delayed approval of the bitcoin ETFs. This has affected the sentiments of the investors as they are finding it riskier to invest on these cryptocurrencies. The Security And Exchange Commission said on Wednesday that it will seek more public comment on a proposal to list a product on Cboe Global Markets Inc.. Let us tell you that this is not the first time that SEC has delayed to give answers to the crypto advocates who provides a way to trade the major cryptocurrencies in the exchange trade funds (ETFs).
Contrary to what SEC said, FCA (Financial Conduct Authority), also known as UK watchdog said that more people see crypto assets as a mainstream investment rather than a ‘gamble’ as ownership of Bitcoin and similar crypto currencies has risen to 2.3 million adults in Britain this year.
Despite of the downfall in this crypto market, investors are investing here and they are not even giving it a thought that they are gambling here. Though crypto market is known for its unpredictable nature but current trend in this market shows that it is much riskier to invest here. Bitcoin that was trading at $39,320.48 yesterday, today saw a downfall of 4.23% and is trading at $37727.39 today.
After Musk’s tweet on Sunday, price of Bitcoin took a huge jump but this is the third straight day that this graph is going down and because of this, other cryptocurrencies are also in the red. World Bank said that it is unable to assist El Salvador’s bitcoin implementation because of environmental concerns as mining of this crypto currency produces tons of waste and harm the environment. They said “We are committed to helping El Salvador in numerous ways including for currency transparency and regulatory processes.” In addition they also said “While the government did approach us for assistance on bitcoin, this is not something the World Bank can support given the environmental and transparency shortcomings.”
Cryptocurrency Chart As On June 18, 2021
Value (Thursday, 17 June 2021)
|Tether||$1||up by 0.04%|
|USD Coin||$1||up by 0.02%|