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Cryptocurrency Prices Today on October 20: Bitcoin surges nearly 4%

Bitcoin's price is currently Rs 49,97,489 and its dominance is currently 47.66 percent, an increase of 0.71 percent over the day.

October 20, 2021 / 08:46 AM IST
(Image: Reuters)

(Image: Reuters)

Cryptocurrency prices continue to be mostly in green on October 20. The global cryptocurrency market cap is Rs 189.26 lakh crores, a 1.87 percent increase over the last day, while the total crypto market volume over the last 24 hours is Rs 6,83,293 lakh crores, which makes a 6.77 percent decrease.

Bitcoin's price is currently Rs 49,97,489 and its dominance is currently 47.66 percent, an increase of 0.71 percent over the day.

Also, Bitcoin hit a six-month high and was within striking distance of its all-time peak on Tuesday as traders bet the listing of the first bitcoin futures-based U.S. exchange-traded fund could herald investment flows into cryptocurrencies.

The ProShares Bitcoin Strategy ETF on NYSE Arca, owned by Intercontinental Exchange Inc , listed on Tuesday under the ticker BITO.

That followed the end of a 75-day period in which the U.S. Securities and Exchange Commission could object to the listing.

The new ProShares ETF opened at $40.88 and was last at $41.64. ETFs are securities that track an asset and can be bought or sold on a stock exchange. Analysts said the ETF would likely simplify access to cryptocurrencies for retail investors.

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"It can attract flows from investors who prefer the ease of an ETF over the perceived risk of an exchange," said Martha Reyes, head of research at crypto exchange Bequant.

Furthermore, a group of United States lawmakers said Facebook Inc cannot be trusted to manage cryptocurrency and urged the social media platform to discontinue immediately a small pilot of its cryptocurrency wallet named Novi, which was launched on October 19.

US Democratic senators Brian Schatz, Sherrod Brown, Richard Blumenthal, Elizabeth Warren and Tina Smith voiced their opposition to Facebook's two-year-old effort to launch a cryptocurrency and digital wallet.

As off 8.30 am on October 20, these are the prices of largest cryptocurrencies (data from WazirX):
NAMEPRICE (INR)24H %
Bitcoin49,90,0003.76%
Ethereum3,01,0002.10%
Tether78.30.54%
Cardano164.9-1.26%
Binance Coin37,989.46-0.81%
XRP85.720.83%
Polkadot3,246.080.97%
Dogecoin18.9782-1.16%
 
Moneycontrol News
first published: Oct 20, 2021 08:46 am

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