Cryptocurrency Market Cap Reclaims $1 Trillion As Crypto Industry Starts To Recover

Cryptocurrency Market Cap Reclaims $1 Trillion As Crypto Industry Starts To Recover

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Following weeks of widespread selling, as the price of Bitcoin (BTC) hit record lows below $18,000, cryptocurrency traders found a sign of progress as the overall market capitalization surged back above the $1 trillion threshold.

Despite analyst predictions that the Federal Reserve will increase interest rates at the Federal Open Market Committee meeting, the traditional markets are up moderately on the day that cryptocurrencies are mainly in the black.

While traders may like the uptick in price on July 18, several analysts warn that it is merely a bear market pump. It is yet unclear whether Bitcoin will be able to overcome this resistance and move higher or stay where it is.

Since the Merge on the Sepolia testnet was successfully completed, Ether has been gaining pace. The news that the mainnet Merge is anticipated to occur gave the currency another bump in price.

The possibility of the Merge actually happening after years of planning excites the community and could increase demand for Ether.

Following a week of several significant announcements, including being chosen to take part in Disney’s 2022 Accelerator Program, Polygon (MATIC) has continued to lead the pack higher.

The current market capitalization of the overall crypto industry is $1.02 trillion.

The cryptocurrency community quickly came to respect Coinbase and getting a project listed on the exchange was seen as a major accomplishment. Without a doubt, the exchange’s expansion opened the door for cryptocurrency to reach the retail sector.

With the receipt of an operating permit for Italy, the company today achieved another significant milestone.

When the EU tightened cryptocurrency limitations across all of its member states last month, the new regulations went into effect. The new regulations state that prior to receiving a local licence, all cryptocurrency businesses must demonstrate that they have safeguards in place for their clients.

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