Bitcoin Gains 5% In Last 5 Days, Ether Regaining Traction: Binance Market Update

Bitcoin, the most valuable crypto coin, gains marginally in market capitalization today. However, it has increased by 5.26% over the past 5 days which gives investors confidence. The trend is also being followed by other cryptocurrencies today. Bitcoin closed at US$ 20,260.20 on July 6th, 2005 at 5.54 UTC. This was an increase of 0.52%. Yesterday, the asset closed yesterday at US$ 20,169.40.

Not surprisingly, other major crypto coins are following the same path. Ether gained 0.64% to US$ 1,140.78. Yesterday, the asset closed yesterday at US$ 1,133.55. Litecoin closed at US$ 1,133.55 yesterday, up 0.12%. Dogecoin was at US$ 0.0680, gaining by 1.29%. Cardano was at US$ 0.4578, gaining 0.060%.

Volatility is an important part of crypto market as alternative investment. Bitcoin, along with other cryptos, has shown a bearish trend this year. Bitcoin fell by 35.57% over the last month. The market is showing some improvement in the last week’s trend. Despite the sharp rise in the US Dollar index and the US Bond yield rising due to interest rate hikes this week, the Crypto market gained momentum.

Market Update on Binance

Binance, a major cryptocurrency exchange, has cut its bitcoin (BTC), trading fees worldwide to attract investors. A CoinDesk report states that Binance made this decision to increase competition with other cryptocurrency exchanges.

Voyager Digital Market Update

Voyager Digital, a crypto lender, has filed for Chapter 11 bankruptcy. According to Bitcoin.com, Voyager Digital said that due to the “prolonged volatility in crypto markets” and the default by Three Arrows Capital (3AC), on a loan, it needed to take ‘deliberate and decisive action now.”