- Bitcoin rose slightly
- Cardano continued to rise
- Market cap goes up
The cryptocurrency market continued to trade in green for the second consecutive day with slight dips in some top coins. However, experts believe that considering the larger adoption of cryptos globally, the industry is fast becoming mainstream.
The global market cap rose 0.17% to $1.91 trillion as of 3.06 a.m. ET, CoinMarketCap data showed.
Bitcoin was up 0.22% at $42,219. Ethereum, however, dipped slightly. Cardano and Solana continued to trade higher for the second consecutive day. While Dogecoin dipped, meme crypto Shiba Inu rose slightly.
Malaysia’s Communications Ministry proposed to the government to recognise cryptocurrencies such as Bitcoin as a legal tender in hopes to develop and assist in youth participation in digital assets.
This follows the launch of Goldman Sachs’ over-the-counter Bitcoin option trade as it aims to drive stronger mainstream participation in the crypto sector.
“These favourable institutional and government receptivity across the world is yet another added boost and assurance of the formidability of the crypto sector and its continued position moulding the future of finance,” Indian Exchange CoinDCX told International Business Times.
In other news, crypto exchange FTX Ventures has invested $100 million in the public-traded banking app Dave, which also announced forging a “strategic partnership” with West Realm Shires Services, the operator of FTX US.
The crypto market is extremely volatile and experts recommend investors not make decisions based on the sudden shift in prices.