In cryptocurrencies, Bitcoin prices today were marginally lower whereas other digital coins were trading with gains. As per CoinDesk, the world’s largest cryptocurrency by market capitalization was down 0.3% to $45,848. It was trading above $46,000 in the past two sessions, hitting an 11-month high.
Ether, the coin linked to ethereum blockchain, was up 1.5% to $3,170 whereas dogecoin was up nearly 3% to $0.26. Other digital coins like XRP, Stellar, Uniswap, Litecoin, Cardano were also trading higher in the range of around 3-16% over the last 24 hours.
Meanwhile, US cryptocurrency exchange Coinbase Global Inc on Tuesday beat market estimates for second-quarter profit boosted by a near 38% jump in trading volumes on a sequential basis, but forecast a drop in current-quarter volumes.
Coinbase, which has benefited from the growing adoption of digital assets, said the reported quarter illustrated the volatility of the still nascent sector that faces calls for more regulation, reported Reuters.
Additionally, Bitcoin investment products and funds registered outflows for a fifth consecutive week, as investor sentiment remained cautious in the midst of increased global regulatory scrutiny, data from digital asset manager CoinShares showed on Monday as reported by Reuters.
Outflows from the world’s most popular cryptocurrency totaled $33 million in the week ended Aug. 6, compared with $19.7 million the previous week. But so far this year, bitcoin inflows remained a robust $4.2 billion.
Total crypto outflows added up to nearly $26 million, although CoinShares noted that the magnitude of outflows was much less than in May and June.
(With inputs from agencies)
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