Bitcoin price will continue to trade higher today above the $19,000 level. The world’s largest and most popular cryptocurrency was trading at $19,408, up more than one percent. According to CoinGecko, the global crypto market cap was below the $1 trillion mark today, as it was up more than one percent over the past 24 hours at $1.03 trillion.
Ether, on the other hand, is the coin linked to the Ethereum blockchain and the second largest cryptocurrency, also rose nearly one percent to $1,641. Ethereum is transitioning to proof-of-stake for its consensus protocol. The latest upgrade to the Ethereum network, known as Bellatrix, was activated on September 6, 2022. The next step after Bellarix will be the Paris upgrade, which boots the miners to finalize the merge. This upgrade is due next week.
Meanwhile, Dogecoin price was trading up one percent today at $0.06 while the Shiba Inu rose marginally to $0.0000012. Today’s performance of other crypto prices also improved as Chainlink, Apcoin, XRP, Uniswap, Binance USD, Polkadot, Tether, Litecoin, Avalance, Solana, Cardano, Stellar, Tron, Polygon price traded with gains in last 24 hours. was doing
The agency’s chairman said on Thursday that companies that help facilitate transactions in the cryptocurrency market should register with the US Securities and Exchange Commission (SEC) like other market intermediaries.
Gary Gensler said that intermediaries in the crypto market offer a range of functions regulated by the SEC, including operating as an exchange, broker dealer, clearing agent and custodian, and must be registered accordingly, Reuters reported.
In another news, bitcoin mining revenue fell to its lowest in nearly two years as competition rises while prices fall and energy costs rise. According to data from crypto-mining services company Luxor Technologies, the hash price index, which indicates the mining revenue value per unit of computing power, fell to about 7.7 cents for each terahash, the lowest since September 2020.
Bitcoin miners use powerful computers to validate transactions encrypted by the Bitcoin network and compete to be the first to come up with a solution to win a reward in the form of newly mined tokens. However, such rewards are limited and the more competition there is on the network, the less rewards each miner will receive.
(with inputs from agencies)
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