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Blogsia - The cryptocurrency market witnessed diverse movements on Monday, July 15, 2024, with most leading cryptocurrencies returning to the green zone. The overall market capitalization saw a significant increase, boosting investor confidence.
Bitcoin (BTC) Rises Steadily
According to data from Coinmarketcap, Bitcoin (BTC), the largest cryptocurrency by market capitalization, saw a significant rise. Over the past 24 hours, Bitcoin increased by 2.9% and 8.33% over the past week. Currently, Bitcoin is trading at $61,131, equivalent to approximately 985.1 million IDR, assuming an exchange rate of 16,115 IDR per USD.
Ethereum (ETH) Shows Strong Performance
Ethereum (ETH) also showed a notable increase, rising by 2.56% over the past 24 hours and 11.08% over the past week. This places ETH at 52.59 million IDR per coin. The rise in Ethereum’s value further strengthens the market's positive trend.
Binance Coin (BNB) Gains Momentum
Binance Coin (BNB) continued its upward trend, growing by 2.63% in the last 24 hours and 10.87% over the past week. BNB is now priced at 8.81 million IDR per coin, reflecting the growing interest and confidence in this cryptocurrency.
Cardano (ADA) and Solana (SOL) Performance
Cardano (ADA) experienced a slight dip, decreasing by 1.50% in the last 24 hours, but still showing a robust weekly increase of 24.28%. ADA is currently valued at 6,993 IDR per coin.
In contrast, Solana (SOL) continued to rise, gaining 4.68% in the last 24 hours and 11.38% over the past week, with its current price at 2.39 million IDR per coin.
XRP and Dogecoin (DOGE) Movements
XRP saw a minor decrease of 0.71% over the past 24 hours but maintained a solid weekly gain of 24.09%, now priced at 8,437 IDR per coin. Dogecoin (DOGE), the popular meme coin, showed impressive performance, increasing by 3.66% in the last 24 hours and 10.92% over the past week, trading at 1,872 IDR per token.
Ethereum (ETH) also showed a notable increase, rising by 2.56% over the past 24 hours and 11.08% over the past week. This places ETH at 52.59 million IDR per coin. The rise in Ethereum’s value further strengthens the market's positive trend.
Binance Coin (BNB) Gains Momentum
Binance Coin (BNB) continued its upward trend, growing by 2.63% in the last 24 hours and 10.87% over the past week. BNB is now priced at 8.81 million IDR per coin, reflecting the growing interest and confidence in this cryptocurrency.
Cardano (ADA) and Solana (SOL) Performance
Cardano (ADA) experienced a slight dip, decreasing by 1.50% in the last 24 hours, but still showing a robust weekly increase of 24.28%. ADA is currently valued at 6,993 IDR per coin.
In contrast, Solana (SOL) continued to rise, gaining 4.68% in the last 24 hours and 11.38% over the past week, with its current price at 2.39 million IDR per coin.
XRP and Dogecoin (DOGE) Movements
XRP saw a minor decrease of 0.71% over the past 24 hours but maintained a solid weekly gain of 24.09%, now priced at 8,437 IDR per coin. Dogecoin (DOGE), the popular meme coin, showed impressive performance, increasing by 3.66% in the last 24 hours and 10.92% over the past week, trading at 1,872 IDR per token.
Stablecoins Maintain Stability
Stablecoins such as Tether (USDT) and USD Coin (USDC) showed minimal movement, each rising by 0.01%. Both remain steady at $1.00. Similarly, Binance USD (BUSD) also grew by 0.01% in the last 24 hours, maintaining its price at $1.00.
Overall Market Capitalization
The total cryptocurrency market capitalization today is at $2.24 trillion, equivalent to 36,097 trillion IDR, marking an increase of approximately 1.92% in the last 24 hours. This broad market growth reflects the positive sentiment and increasing investor confidence in the cryptocurrency sector.
Disclaimer: Investment decisions are the reader's responsibility. Research and analysis are essential before buying and selling cryptocurrencies. Liputan6.com is not responsible for any gains or losses from investment decisions.
Bitcoin Soars to $60,000 After Donald Trump Shooting
Previously, Bitcoin surged above $60,000 following an incident involving former U.S. President Donald Trump. Trump was shot while campaigning in Pennsylvania, USA, leading to speculation that his chances of winning the upcoming presidential election could increase.
Stablecoins such as Tether (USDT) and USD Coin (USDC) showed minimal movement, each rising by 0.01%. Both remain steady at $1.00. Similarly, Binance USD (BUSD) also grew by 0.01% in the last 24 hours, maintaining its price at $1.00.
Overall Market Capitalization
The total cryptocurrency market capitalization today is at $2.24 trillion, equivalent to 36,097 trillion IDR, marking an increase of approximately 1.92% in the last 24 hours. This broad market growth reflects the positive sentiment and increasing investor confidence in the cryptocurrency sector.
Disclaimer: Investment decisions are the reader's responsibility. Research and analysis are essential before buying and selling cryptocurrencies. Liputan6.com is not responsible for any gains or losses from investment decisions.
Bitcoin Soars to $60,000 After Donald Trump Shooting
Previously, Bitcoin surged above $60,000 following an incident involving former U.S. President Donald Trump. Trump was shot while campaigning in Pennsylvania, USA, leading to speculation that his chances of winning the upcoming presidential election could increase.
According to Bloomberg on Sunday, July 14, 2024, the former president, known for his pro-crypto stance, was shot in his right ear during a political rally in Pennsylvania on Saturday, July 13, 2024. His campaign team reported that he was "doing fine" after the incident and was looking forward to attending the Republican National Convention starting Monday, July 15, in Milwaukee.
Images of Trump, with his right ear bleeding and his fist raised defiantly, circulated widely on social media and television, boosting his presence. This incident led to market volatility, mirroring the reactions seen during last month's debates, which favored Trump. The U.S. dollar strengthened, and Treasury yields rose.
Bitcoin increased by 2.7%, reaching $60,160.71 at 1:05 AM in New York. The most traded cryptocurrency had been stable in recent days due to optimism that ETFs from giants like BlackRock Inc. and Fidelity Investments would provide a solid demand base to cushion price fluctuations.
Joe Biden Urged to Support Crypto Regulation Ahead of U.S. Elections
With over 18 million Americans invested in cryptocurrencies, the tech industry coalition, The Chamber of Progress, is urging President Joe Biden to support bipartisan and pro-crypto policies to garner more votes from the youth.
The Chamber of Progress expects the Biden administration to back comprehensive cryptocurrency regulations ahead of this month's bitcoin roundtable to secure millennial and Gen Z votes.
"More than 50% of this age group supports federal policies encouraging the use of digital assets in the U.S.," the coalition stated in a letter to Biden, as reported by Yahoo Finance on Friday, July 12, 2024.
The Chamber of Progress cited polling data indicating that more than half of voters believe more crypto regulations are needed in the U.S. Moreover, 1 in 5 voters considers crypto regulation a major voting issue in the 2024 elections.
The coalition also reminded Biden of former President Donald Trump, who leveraged his administration's ambiguity towards cryptocurrencies to position himself as a supporter of technological leadership and U.S. economic progress.
"Trump has committed to supporting cryptocurrency voices and reportedly raised millions from founders and investors," the coalition warned. However, they reassured Biden that his campaign could still win by expanding regulatory clarity in the crypto industry.
Donald Trump's Crypto Investments Plummet 75% in a Month
Previously, former U.S. President Donald Trump's cryptocurrency investment portfolio experienced a significant decline due to the weakening crypto market. Trump’s crypto assets, which once exceeded $30 million, equivalent to 487.2 billion IDR, have dropped drastically.
According to Yahoo Finance on Thursday, July 11, 2024, Arkham Intelligence reported that Trump's crypto portfolio decreased by approximately 75% to $8 million, or 129.9 billion IDR, over the past month.
Images of Trump, with his right ear bleeding and his fist raised defiantly, circulated widely on social media and television, boosting his presence. This incident led to market volatility, mirroring the reactions seen during last month's debates, which favored Trump. The U.S. dollar strengthened, and Treasury yields rose.
Bitcoin increased by 2.7%, reaching $60,160.71 at 1:05 AM in New York. The most traded cryptocurrency had been stable in recent days due to optimism that ETFs from giants like BlackRock Inc. and Fidelity Investments would provide a solid demand base to cushion price fluctuations.
Joe Biden Urged to Support Crypto Regulation Ahead of U.S. Elections
With over 18 million Americans invested in cryptocurrencies, the tech industry coalition, The Chamber of Progress, is urging President Joe Biden to support bipartisan and pro-crypto policies to garner more votes from the youth.
The Chamber of Progress expects the Biden administration to back comprehensive cryptocurrency regulations ahead of this month's bitcoin roundtable to secure millennial and Gen Z votes.
"More than 50% of this age group supports federal policies encouraging the use of digital assets in the U.S.," the coalition stated in a letter to Biden, as reported by Yahoo Finance on Friday, July 12, 2024.
The Chamber of Progress cited polling data indicating that more than half of voters believe more crypto regulations are needed in the U.S. Moreover, 1 in 5 voters considers crypto regulation a major voting issue in the 2024 elections.
The coalition also reminded Biden of former President Donald Trump, who leveraged his administration's ambiguity towards cryptocurrencies to position himself as a supporter of technological leadership and U.S. economic progress.
"Trump has committed to supporting cryptocurrency voices and reportedly raised millions from founders and investors," the coalition warned. However, they reassured Biden that his campaign could still win by expanding regulatory clarity in the crypto industry.
Donald Trump's Crypto Investments Plummet 75% in a Month
Previously, former U.S. President Donald Trump's cryptocurrency investment portfolio experienced a significant decline due to the weakening crypto market. Trump’s crypto assets, which once exceeded $30 million, equivalent to 487.2 billion IDR, have dropped drastically.
According to Yahoo Finance on Thursday, July 11, 2024, Arkham Intelligence reported that Trump's crypto portfolio decreased by approximately 75% to $8 million, or 129.9 billion IDR, over the past month.
Trump's portfolio comprises TRUMP tokens valued at around $3.5 million, ETH at $1.5 million, TROG at $1.5 million, Wrapped Ethereum (WETH) at $1 million, and several smaller positions in other meme tokens.
This rapid depreciation highlights the inherent risks in cryptocurrency investments, particularly in niche tokens. Over the past month, Trump has lost over $22 million due to holding these digital assets.
Such drastic declines are not uncommon for those heavily invested in community-based tokens with minimal utility, as these tokens often have the lowest confidence and are most susceptible to price volatility.
As the crypto market continues to evolve, Trump’s experience underscores the volatility and uncertainty of cryptocurrencies. While his portfolio once enjoyed exceptional peak valuations, the past month serves as a harsh reminder of the market's brutality, emphasizing the importance of market awareness and risk management for successful investments.
This rapid depreciation highlights the inherent risks in cryptocurrency investments, particularly in niche tokens. Over the past month, Trump has lost over $22 million due to holding these digital assets.
Such drastic declines are not uncommon for those heavily invested in community-based tokens with minimal utility, as these tokens often have the lowest confidence and are most susceptible to price volatility.
As the crypto market continues to evolve, Trump’s experience underscores the volatility and uncertainty of cryptocurrencies. While his portfolio once enjoyed exceptional peak valuations, the past month serves as a harsh reminder of the market's brutality, emphasizing the importance of market awareness and risk management for successful investments.
