Crypto News: The cryptocurrency market is making a strong recovery on Tuesday after recording its steepest drop of 2024 on Monday. Bitcoin, the oldest cryptocurrency, fell more than 12% yesterday but has risen more than 9% in the past 24 hours.
At around 2:10 p.m., bitcoin, which has a market capitalization of $1.1025 trillion, was trading at $55,861.43, according to data from Binance.com. The currency has traded in a range of $49,578.89 to $56,271.37 in the past 24 hours. However, bitcoin has fallen about 16.26% in the past seven days.
Since the beginning of the year, the world's most popular cryptocurrency has recorded a 32.12 percent increase.
Among other cryptocurrencies, Binance Coin (BNB) has surged nearly 12% in the past 24 hours, trading at $491.62 on Binance.com.
The trading range for BNB in the past 24 hours is $409.82 to $492.90. Although BNB has fallen 3.51% in the last month, the cryptocurrency is up 57.38% year-to-date.
Ethereum (ETH), along with other cryptocurrencies, surged 9.11% in the past 24 hours. ETH was trading at $2,501.41 on Binance.com. ETH traded in a range of $2,186.68 to $2,547.98 in the past 24 hours.
Stock Market Updates
Domestic equity indices rose at the opening of Tuesday's session, helped by a rebound in Asian stocks and US futures. However, they remained flat in the second half of the day's session. The BSE Sensex index was trading 0.06 per cent lower at 78,715 levels. It rose 1.38 per cent in intraday trade to hit an intraday high of 79,852.08.
Meanwhile, the NSE Nifty50 was down 0.07 per cent and hovering at 24,039 levels.It rose 1.35 per cent in intraday trade to touch its intraday high of 24,382.6.
Among other Asian stocks, Japan's Nikkei 225 closed up more than 10% on Tuesday, while the Asian Dow and China's Shanghai Composite Index closed up 4.25% and 0.23%, respectively, while Hong Kong's Hang Seng Index closed down 0.31%.
First Edition: August 6, 2024 | 3:15 pm IST
