Last Updated:

Bitcoin Jumps Nearly 15% In 3 Hours Towards $40,000, Ethereum 20% In Week; Check Details

Bitcoin and other cryptocurrencies on Monday continued to rise as remarks from Ark Investment Management LLC's Cathie Wood & CEO Elon Musk pushed prices.

bitcoin

Picture Credit: Executium/Unsplash


Bitcoin and other cryptocurrencies on Monday, July 26, continued to rise as remarks from Ark Investment Management LLC's Cathie Wood and Tesla's CEO Elon Musk pushed prices higher. According to CoinDesk, Bitcoin prices have increased by 15% in the last 24 hours, reaching $39,544. However, at 09:26 IST, the leading crypto-coin was listed on CoinMarketCap at $38,187.47, up 11.64% in the last 24 hours. According to the cryptocurrency website, this upward trend has gained 20.99% in the last seven days.

Crypto prices today

The digital asset is closer to a comfortable $40,000 margin with a market valuation of $715 billion. This is a considerable improvement over last week's pricing when the coin appeared to be at risk after falling below the $30,000 mark. The second-largest cryptocurrency, Ether or Ethereum, reached a high of $2,322.95, with a 24-hour upward trend of 7.82%. Ether has increased by 23.04% in the last seven days.

The worldwide cryptocurrency market capitalization increased by 8.50% in the last day, reaching $1.52 trillion. According to data from CoinMarketCap, the market volume increased by 27.25% in the last 24 hours, bringing it to $89.26 billion. DeFi now has a total volume of $10.10 billion, accounting for 11.32% of the overall 24-hour crypto market volume. According to reports, the entire volume of all stable coins is now $72.08 billion, accounting for 80.76% of the whole crypto market's 24-hour volume.

This sharp rise came only days after Elon Musk, Cathie Wood, and Twitter CEO Jack Dorsey spoke at the ‘The B Word' conference. Musk was cited at the conference as adding that he wanted to see Bitcoin thrive and that he and his firm both owned Bitcoin, with the former owning multiple coins such as Dogecoin and Ethereum as well. Wood and Dorsey both applauded Bitcoin, with Wood suggesting that businesses consider it for their balance sheets. The coin, on the other hand, is robust, according to Dorsey.

Top cryptocurrencies and their prices on July 26

Bitcoin $38,334.59 or 12.11 per cent change in 24 hours

Ethereum $2,314.83 or 7.57 per cent change in 24 hours

Binance Coin $321.35 or 7.55 per cent change in 24 hours

Cardano $1.33 or 9.46 per cent change in 24 hours

Dogecoin $0.2232 or 15.05 per cent change in 24 hours

XRP $0.6604 or 9.73 per cent change in 24 hours

Polkadot $14.88 or 11.93 per cent change in 24 hours

Uniswap $19.65 or 9.57 per cent change in 24 hours

Bitcoin Cash $496.44 or 10.63 per cent change in 24 hours

USD Coin $0.9999 or 0.00 per cent change in last 24 hours

Litecoin $136.58 or 9.31 per cent change in 24 hours

(Source: CoinMarketCap)

Musk also stated last week that his electric vehicle firm, Tesla, would likely resume accepting Bitcoin as a form of payment after conducting due diligence. This due diligence was conducted in order to determine the amount of energy required to mine the coins as well as the environmental impact. In May, the EV firm discontinued the acceptance of this crypto asset, contributing to its record-low drop.

Picture Credit: Executium/Unsplash

First Published: