Bitcoin has started the day posting minor gains. At press time, the largest cryptocurrency by market cap is trading at $46,184.06 (+1.59%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ether is up to $3,473.98 (+4.32%), while Cardano has risen by 8.77% and is now trading at $2.54.
FxPro's team of analysts say:
"Bitcoin has fallen to $44,400 over the past day, however, the price of the crypto has managed to recover to above $46,000. The altcoins market has frozen and is awaiting what happens to Bitcoin.
And the background is more than variegated. El Salvador's decision, it seems, is keeping many awake at night. Suddenly, the Ukrainian parliament has adopted a law 'On virtual assets,' which will officially introduce cryptos into the legal field. However, we should not celebrate yet. The essence of the project is that people can now open cryptocurrency accounts in banks, and if any cryptocurrency-related fraud occurs, the victims will be able to turn to the courts for protection. It is still impossible to pay with coins for goods and services in Ukraine.
Perhaps this is the best thing for the national economy. Bloomberg has published an article in which it talks about El Salvador facing a massive sell-off in government bonds on Wednesday. According to reports, investors are trying to get back at the country for adopting BTC in this way."
According to CoinMarketCap’s ranking, 9 currencies on the top 10 are in green.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $2,119,247,712,596.
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