Cryptocurrency Prices Soar Today as Bitcoin, Shiba Inu Jump 8%, Uniswap 28%

The cryptocurrency price surged today with bitcoin trading above $22,000. The world’s largest and most popular cryptocurrency rose more than 8% to $22,757. According to CoinGecko, the global cryptocurrency market cap was above the $1 trillion mark today, as it rose more than 7% to $1.09 trillion in the past 24 hours.

On the other hand, Ether, the coin tied to the Ethereum blockchain and the second largest cryptocurrency, rose nearly 13% to $1,614. Meanwhile, the price of Dogecoin is up 6% to $0.06 today, while the Shiba Inu is also up 7% to $0.0000011.

Ethereum’s long-awaited software upgrade has turned the blockchain’s early offshoot an unexpected winner, driving the price of the latter token up in recent days.

Ethereum Classic, which was built on Ethereum’s blockchain following a 2016 software change known as a ‘hard fork’, saw the price of its token rise by up to 30%.

The merge is set to move Ethereum to a system called Proof of Stake, in which staked Ether tokens will order transactions, from its current system called Proof of Work, a mechanism that uses powerful computers to order transactions. does.

Today’s performance of other crypto prices has also improved as XRP, Solana, BNB, Litecoin, Stellar, Chainlink, Apcoin, Avalanche, Polkadot, Tether, Polygon, Tron, Uniswap (over 28%) prices marginally over the past 24 was doing business with profit. hours.

The UK needs to reform legislation specifically for cryptocurrencies and non-fungible tokens, as Bloomberg reports, with the country’s Law Commission saying that existing laws are not strong enough to govern the new sector.

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Authorities around the world are taking steps to regulate the crypto asset sector. The price of cryptocurrencies like bitcoin rose in 2020 and 2021, but has declined sharply this year. NFTs – blockchain-based assets that represent digital files such as images, have also grown rapidly. Rising interest rates and high-profile meltdowns like crypto hedge funds Three Arrows Capital have outperformed digital tokens this year.

Meanwhile, crypto exchange FTX US is expanding its no-fee stock trading service to all US users, including non-crypto investors, to expand its client base and increase custodial assets.

(with inputs from agencies)

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