Bitcoin prices today have surged after dropping briefly below $40,000 for the first time since August in Wednesday’s early deals. The world’s largest cryptocurrency by market capitalization was trading at 43,656.87, up nearly 4%. Bitcoin is up 49% this year (year-to-date), though, much below its record high level of near $65,000 it had hit in April.
Meanwhile, Ether, the coin linked to ethereum blockchain and the second largest cryptocurrency, rallied over 7% to $3,085. Cardano prices gained 9% to $2.24, as per CoinDesk whereas dogecoin rose 8% to $0.22. The performance of tokens including XRP, Solana, Uniswap, Stellar and Litecoin also improved over the past 24 hours.
Tesla chief Elon Musk in a recent tweet said that Dogecoin fees would need to fall for it to become more widely used in retail purchases. “Super important for Doge fees to drop to make things like buying movie tix viable,” Elon Musk tweeted.
Musk was replying to Shibetoshi Nakamoto, creator of Dogecoin, who is no longer on the project. “Robinhood announcing wallets, AMC CEO not only talking about accepting Dogecoin but saying it was the single most interacted with a tweet he has ever made, the crypto market finally seeing some green.I gotta say…,” Nakamoto had tweeted.
Robinhood Markets Inc said on Wednesday it plans to begin testing cryptocurrency wallets next month, with a broader rollout in early 2022, allowing its users to move supported digital currencies in and out of their brokerage accounts.
The Menlo Park-based retail brokerage currently allows buying, selling and holding of certain cryptocurrencies, like bitcoin and dogecoin, and last quarter saw crypto transactions exceed equities transactions for the first time.
Customers of Robinhood, which benefited from a boom in retail trading during the pandemic, have long asked for crypto wallets, which would allow them to participate more broadly in blockchain-based ecosystems, such as buying virtual assets like non-fungible tokens (NTFs) on the Ethereum network, reported Reuters.
(With inputs from agencies)
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