Cryptocurrency update: Bitcoin jumps 9.46%, Ethereum climbs 5.95%
The rise comes after Middle East's first bitcoin fund launched on the Dubai bourse with 3iQ Corp seeking to raise around $200 million.
Bitcoin, the world’s largest cryptocurrency, on Wednesday jumped 9.46% while trading at $40,192.20 Ethereum also rose by 5.95% and is currently at $2,307.37. Most of the major cryptocurrencies traded in the green in the last 24 hours. This comes after the launch of Middle East’s first bitcoin fund on the Dubai bourse with Canadian digital asset manager 3iQ Corp seeking to raise around $200 million.
“3iQ Corp, Canada’s largest digital asset investment fund listed Bitcoin fund on Nasdaq Dubai today”, the bourse said in a statement. It also said that this fund is the first regulated major Bitcoin fund to be listed on the capital markets on the Middle East North Africa region.
In an interview with Bloomberg TV, 3iQ Corp Chief Executive Fred Pye said that “Bitcoin trades 24 hours a day around the world and in Canada we trade around North American market times and Dubai is perfectly opposite of those trading hours”.
He also added that if the markets hold up for the next few months, while the listing gets going, the fund may go as high as $200 million.
Other cryptocurrencies like Dogecoin, Tether, XRP and Binance Coin were trading in green after yesterday’s fall
Top 10 Cryptocurrencies on July 28, 2021
| S.No | Name | Price | %Change |
| 1 | Bitcoin | $40,192.20 | 9.46 |
| 2 | Ethereum | $2,307.37 | 5.95 |
| 3 | Tether USDT | $1.00 | 0.01 |
| 4 | Binance Coin | $314.40 | 4.02 |
| 5 | Cardano | $1.29 | 4.68 |
| 6 | XRP | $0.6467 | 4.44 |
| 7 | USD Coin | $1.00 | 0.01 |
| 8 | Dogecoin | $0.2069 | 4.49 |
| 9 | Polkadot | $14.47 | 6.07 |
| 10 | Binance USD | $1.00 | -0.01 |
*All prices as of 28 July 2021, at 9:00 AM, Table Source:coinmarketcap.com
Amazon to allow Cryptocurrency but not poised for Bitcoin
Amazon may allow users to pay in cryptocurrencies, but has not planned to accept Bitcoin payments by end of this year. In an interview with AFP, an Amazon spokesperson said that information in report was fabricated but the company has an eye on the cryptocurrency sector.
He also added that notwithstanding the company’s interest in the space, the speculation around specific plans for cryptocurrencies is not true.