The second largest cryptocurrency Ether There was a loss of about one percent. The price of Ether was around $ 3,233 on Indian exchanges and around $ 3,560 on international exchanges. Apart from this, there was a decline in the prices of Tether, Ripple, Cardano, Solana, Polkadot, Chainlink and Polygon. The rising cryptocurrencies included Binance Coin, Tron, USD Coin and Iota. In the last one day, the market capitalization of crypto was down by about 2.36 percent to about $ 2.49 trillion.
Shivam Thakral, CEO of crypto exchange BuyUcoin, told Gadgets360, “The recent decline in the crypto market has led to increased buying by institutional investors. Positive regulatory processes and macroeconomic factors could lead to a strong rally in the second half of this year.” The markets desk of crypto app CoinSwitch said, “The market is showing a downward trend. The recently launched meme coin NOT has fallen the most due to profit booking.”
Last month, Bitcoin completed one billion transactions on block number 842,241. According to Clark Moody’s Bitcoin Dashboard, on May 7 Bitcoin The total number of transactions was 1,000,701,505. The first Bitcoin block was mined on January 3, 2009. In its 5,603 days of existence, the Bitcoin network has processed an average of 1,78,475 transactions per day. This does not include transactions processed through the Lightning Network. The Lightning Network is a Layer 2 Bitcoin protocol that processes transactions faster. The creator of Bitcoin is called Satoshi Nakamoto. Satoshi published the first Bitcoin whitepaper on October 31, 2008 and then the price of Bitcoin was $ 0.0008. Rules are being made for the crypto segment in some countries. This will curb the cases of scam in this market.