Bitcoin has started the day in a positive mood. At press time, the largest cryptocurrency by market cap is trading at $58,274.19 (+5.07%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ether has jumped to $1,822.75 (+7.38%), while XRP has increased by 3.92% and is now trading at $0.58.
FxPro's team of analysts say:
"Bitcoin has experienced a 5% increase over the last 24 hours and is currently trading at around $57,800. As a result, the reference crypto has managed to recover, although at the moment it does not seem to have enough momentum to retest $60,000. Apparently, yesterday's growth was driven by the news Visa plans to integrate stablecoin USD Coin (USDC) transactions into its ecosystem. While this is not directly related to Bitcoin, it serves as further confirmation of the growing adoption of the crypto market by traditional finance.
The connection between the traditional transaction processing market and the cryptocurrency market is an important step towards the adaptation of digital currencies as a means of payment in everyday life. However, this is precisely what brings to light another important question: what will be the reaction of regulators in leading countries to everything that is happening? While China has given a clear response, the US authorities have not had a clear reaction to these future integrations. It is very likely that this will happen soon, as it happened when Facebook tried to launch its own crypto in partnership also with Visa and Mastercard."
According to CoinMarketCap’s ranking, 7 currencies on the top 10 are in green.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $1,841,128,747,142.
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