July 12 Cryptocurrency Price in India: Global Market Cap Check for Bitcoin BTC, Ethereum, Doge, Solana, Litecoin SOL, Mina, NEM XEM
Bitcoin remained stable within the $30,000 range, while other popular cryptocurrencies experienced minor movements. The global crypto market cap increased by 0.37 percent to reach $1.19 trillion. Bitcoin’s price was $30,630.57, with a 24-hour jump of 0.58 percent. Ethereum’s price stood at $1,883.21, with a 24-hour gain of 0.29 percent. Dogecoin saw a 0.23 percent increase and was priced at $0.06541. Litecoin experienced a 0.03 percent loss and was trading at $97. Ripple’s price was $0.4754, with a 0.14 percent dip. Solana gained 0.72 percent and was priced at $22.04. The biggest gainer was NEM, with a 24-hour jump of nearly 30 percent, while Mina was the biggest loser, experiencing a 10 percent dip.
According to experts, Bitcoin’s stability above the $30,000 level may signal a potential upward movement in the near future. Ethereum demonstrated relative stability, and buyers still maintain an advantage over sellers in the market. The crypto fear and greed index increased to 64/100, indicating continued investor optimism. Standard Chartered’s upward revision of BTC targets contributed to this optimism. The crypto market is currently awaiting signs of a price increase amid a potential rate hike pause and liquidity inflow. The market has been affected by concerns about potential higher interest rates in the US. The total value of all cryptocurrencies dropped by 16.51 percent in the previous day.
The market’s current price of $30,602 demonstrates both the cyclical nature of cryptocurrency values and the expanding significance of decentralized finance (DeFi) in the industry. Standard Chartered predicts that Bitcoin will reach $50,000 by the end of 2023 and $120,000 by the end of 2024. The Federal Reserve’s decision on interest rates will depend on inflationary pressures in the economy. In times of rising interest rates, people tend to park money in safe havens, affecting assets like crypto and equity. Crypto products and NFTs are unregulated and can be highly risky, and readers are advised to seek expert advice and read related literature before making any investments.