Bitcoin has started the day posting minor gains. At press time, the largest cryptocurrency by market cap is trading at $38,858.77 (+2.96%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ether has increased to $2,682.54 (+8.27%), while Tether has dropped by 0.03% and is now trading at $0.999.
The price of Bitcoin has risen by around $1,000 over the past 24 hours to almost surpass the psychological barrier of $39,000.
One of the reasons that could have given a boost to the price of the reference cryptocurrency is the fact that Melanion Capital plans to launch the first Bitcoin ETF regulated by EU regulations. According to Melanion Capital, all stocks tracked are correlated by up to 90% with the price of Bitcoin.
In addition, efforts by authorities to regulate the sector continue. For example, several US senators have unveiled a new crypto-focused tax collection plan that details the taxable persons. Under the proposal, those mining or staking cryptocurrencies, or even selling hardware/software, are tax-free. Instead, the amendment would target only those "who conduct transactions on exchanges where consumers buy, sell and trade digital assets."
According to CoinMarketCap’s ranking, 8 currencies on the top 10 are in green.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $1,610,934,520,606.
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