Crypto Currency News

Bitcoin price stumbles again and Ethereum hits new all-time high

The altcoin market posted significant gains and Ethereum jumped 7%

The recovery of Bitcoin (BTC) fails to get on track, and the leading crypto currency does not record significant daily gains. As Ethereum (ETH) advances and promises to continue breaking records, several altcoins are posting double-digit jumps. At the close of this note, its price is USD 57,066.

However, despite the lack of a daily jump in the price of BTC, the ecosystem has a new reason to celebrate. The news of the day for the ecosystem comes this time from Argentina. Online trading platform MercadoLibre announced that it invested $ 7.8 million in BTC at the beginning of the year.

The firm – the largest in the country and one of the largest in Latin America – acknowledged that it intends to keep crypto currencies indefinitely in its reserves. Although the adoption of a commercial strategy is clear, similar to that of Micro Strategy or Tesla, MercadoLibre executives did not publicly share their concept of the crypto currency. Neither was the exact amount of BTC acquired nor the way in which the purchase was made known.

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MercadoLibre CEO Marcos Galperin did not comment on the new investment in social networks, but in the last hours he slipped a comment about the boom in digital assets. “A key reason behind the increase in the value of crypto currencies may well be the devaluation of dollars, which is likely to continue,” the businessman wrote on Twitter a few hours ago.

The altcoin market registered significant rises. ETH jumped 7% again and surpassed $ 3,560. The second largest coin on the market is looking for a new ATH and already registers a growth of 200% so far this year. XRP posted a similar rise on the trading day today, which is why it is trading at $ 1.67.

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Cardano (ADA) and Bitcoin Cash (BCH) stood out on the day for their jumps of 17% and 12%, which brought their prices to USD 1.62 and USD 1,422, respectively. Polkadot (DOT) is trading at $ 40.56 after a 4% rise.

Binance Coin (BNB), Dogecoin (DOGE), and Litecoin (LTC) all posted declines of less than 1%, and their price stands at $ 641, $ 0.59, and $ 344, respectively.

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