cryptocurrency prices Were trading with gains today after crashing earlier this week and bitcoin trading above $47,000. The world’s largest cryptocurrency is up more than 60% this year (y-o-y), however, far below the all-time high of around $65,000 in April.
Bitcoin price rose 2% to $47,067.77 as volatility eased after El Salvador’s adoption of the crypto asset as legal tender and the threat of a US lawsuit against crypto exchange Coinbase Global Inc. paved the rocky road ahead for the cryptocurrency. underlined.
The coin tied to Ethereum and the second largest crypto by market capitalization, Ether was up 1.5% at $3,519.5. Meanwhile, Dogecoin price climbed to $0.25 while Cardano at $2.59, up almost 2%. Other digital tokens such as XRP are up 11% and Uniswap, Stellar, Litecoin are up by over 1% in the past 24 hours.
Coinbase said on Wednesday that the US Securities and Exchange Commission had threatened to sue the cryptocurrency exchange if it launches a program that lets users earn interest by lending crypto assets. The SEC issued Coinbase with a Wells notice, indicating that the US regulator will sue if the crypto exchange goes ahead with the launch of its interest-bearing “lending” product for crypto assets, Reuters reported.
Earlier this week, bitcoin prices fell from $52,000 per coin to $42,000, before recovering nearly half of that loss after El Salvador became the first country to adopt bitcoin as legal tender and rollout El Salvador. faltered in his first hours as President Nayib Bukele. Said that the digital wallet used for the transaction was not working.
(with inputs from agencies)
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