Cryptocurrency update: Bitcoin jumps by 11.41%, Ethereum climbs 6.7%
Other cryptocurrencies like Dogecoin, Binance USD, XRP and Binance Coin were trading at more than 7%
Bitcoin, the world’s largest cryptocurrency, on Monday jumped by 11.41% trading at $38,141.37. Ethereum also rose by 6.7% and is currently at $2,310. Most of the major cryptocurrencies traded in the green in the last 24 hours. Today’s rise comes after crypto prices saw a massive hike last week as Tesla CEO Elon Musk said that he has invested in Bitcoin and Ethereum. Adding to that Ark Investment Management LLC’s Cathie Woods comments also gave cryptocurrencies a boost.
Other cryptocurrencies like Dogecoin, Binance USD, XRP and Binance Coin were trading at more than 7%.
Top 10 Cryptocurrencies on July 26, 2021
| S.No | Name | Price | %Change |
| 1 | Bitcoin | $38,141.37 | 11.41 |
| 2 | Ethereum | $2,310 | 6.7 |
| 3 | Tether USDT | $1.00 | -0.01 |
| 4 | Binance Coin | $321.71 | 7.4 |
| 5 | Cardano | $1.32 | 7.99 |
| 6 | XRP | $0.6563 | 8.71 |
| 7 | Dogecoin | $0.2168 | 12.07 |
| 8 | USD Coin | $0.9998 | -0.01 |
| 9 | Binance USD | $14.78 | 10.37 |
| 10 | Polkadot | $0.9998 | -0.01 |
*All prices as of 26 July 2021, at 9:00 AM, Table Source:coinmarketcap.com
Amazon may allow payment in Cryptocurrency
Amazon may allow users to pay in Bitcoin as the e-commerce giant is hiring a digital currency and blockchain product lead for its payment team.
The product lead would work closely with teams across Amazon, including AWS to develop the roadmap for customer experience, technical strategy and capabilities as well as the launch strategy. Amazon does not accept Cryptocurrencies as payments yet. Amazon Web Services (AWS), the cloud arm of Amazon, currently offers a managed blockchain service.
RBI on CBDCs
The Reserve Bank of India (RBI) recently said that it has been working towards a phased implementation strategy to launch Central Bank Digital Currency (CBDC).
While the move has been welcoming from the industry stakeholders, certain statements from RBI have stoked concerns regarding the future of virtual currencies such as Bitcoin, Ether, and Dogecoin.
CBDCs are digital currencies issued by a Central bank and take on the digital form of the Nation’s existing currency such as the rupee.
Speaking at a Webinar, T Rabi Sankar, Deputy Governor of RBI said that CBDCs are beneficial not only in the payments systems they create but also protect the public from the volatile private virtual currencies.