Crypto Prices Surge Today As Bitcoin, Ether, Dogecoin Gains. Check Latest Rates Here

Crypto Prices – Bitcoin on Thursday went up by 2.3% remaining above the $42,000 level, as per CoinGecko. 

iexclusivenews reports that the digital token was trading almost flat at $42,837.

However, the world’s largest and most popular cryptocurrency is down nearly 8% in 2022. And is around 30% below its record high of near $69,000 set in November of last year.

Furthermore, the worldwide cryptocurrency market capitalization is now $2.03 trillion, up 1.4% in the last 24 hours.The entire volume of bitcoin trade is $98.3 billion.

This comes at a time when Bitcoin has a 40% market share and Ethereum has a 17.9% market share.

Dogecoin increased by 11.8% to $0.135805 in the last 24 hours. While Shiba Inu increased by 6.2 percent to $0.00002464.

iexclusivenews reports that according to an Associated Press article, US Federal Reserve Chair Jerome Powell said emerging forms of digital money, including as cryptocurrencies and stable-coins.

Pose threats to the US financial system and will necessitate new policies to protect consumers.

Powell also stated that new technology will likely make electronic payments cheaper and faster.

Speaking on a panel organized by the Bank for International Settlements, a global organization of central bankers, on Wednesday.

However, he warned that they might disrupt current financial institutions.

Jerome Powell underlined many dangers associated with the rise of digital finance, including those to consumers and the larger financial system, in his speech.

The Federal Reserve is also attempting to determine how digital assets such as Bitcoin may affect financial markets, particularly during market downturns or collapses.

Powell also mentioned that crypto assets have been exploited for “illicit conduct,” like as money laundering.

And that “we need to prevent this so that the innovations that survive and attract broad adoption are those that produce value over time” for legal purposes.

iexclusive News Nigeria reports that Powell stated that the Fed has “always promoted responsible innovation.”

However he acknowledged that it is impossible to predict which inventions “will have long-term effects” and which will be largely hype.”

“And it’s impossible to know which is which in real time,” he added.

 

(With inputs from agencies)