On Wednesday, bitcoin (EXANTE: Bitcoin) is surging. As of press time, the largest cryptocurrency by market capitalization is trading at $48,837.8 (-0.55%), according to EXANTE.
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Chart of the USD/BTC trading pair from EXANTE
For its part, ether (ETH) also jumped to $3,855.82 (2.79%), with binance coin (BNB) adding 1.01% and is trading now at $530.71.
FxPro's team of analysts says that today financial markets will listen with caution to the words of the Fed chairman and read the FOMC comments. Deviations from expectations can have an impact on the entire financial world, affecting bitcoin, they added.
According to CoinMarketCap's ranking, all 10 assets on the top by market capitalization are in green. The whole cryptocurrency market capitalization rose by 1.73% up to $2.28 trillion. Earlier, iHodl reported that the Bitcoin network reached the point where it remains to be mined 2.1 million BTC — only 10% of the available emission volume.
However, the total supply of cryptocurrency will not be equal to 21 million BTC, as provided by the algorithm. This is due to the fact that some early miners did not demand a reward and 3.79 million BTC could be lost forever.
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