The green is the color of cryptocurrency prices on June 15, with Bitcoin, the largest digital currency, touching a two week high.
Global crypto market cap stands at $284.36 Billion, an 82.51 percent decline over the previous day. The crypto market volume for the last 24 hours has decreased by 88.46% to $10.51 billion.
The total volume of all stable coins stands at $994.90million, or 9.47 percent of the 24-hour crypto market volume.
Bitcoin’s current price is $40,285.66, but its dominance is currently at 266.45%, an increase of 221.44 per day.
This comes after Tesla CEO Elon Musk sent Bitcoin prices soaring when he tweeted that the company would resume taking the cryptocurrency as payment – after verifying that the transactions “reasonable clean energy”.
He stated that Tesla would resume accepting Bitcoin transactions once there is confirmation of reasonable (50%) energy use by miners with a positive future trend.
“The market had been going though another round of corrections over the weekend… until Elon Musk tweeted that he would accept Bitcoin again for Tesla purchases changed sentiment,” Bobby Ong, cofounder of cryptocurrency analytics website CoinGecko, told Reuters.
He stated that the market was also supported and supported by MicroStrategy, a major Bitcoin-backer and software company raising half a million dollars to buy Bitcoin.
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Bitcoin has seen a 33 percent increase in value this year, but it has fallen from its record high of $60,000 due to a crackdown in China and Musk’s apparent enthusiasm.
Meanwhile, outflows in cryptocurrency funds and investment products continued for the second consecutive week. Data from CoinShares on June 14 showed that ether posted record outflows, as institutional investors took a step back.
Reuters reported that total crypto outflows reached $21 million in the week ended June 11. Total outflows have reached $267 millions since mid-May. This represents 0.6 percent of total assets under manage (AUM).