Market Update – BTC Shows Almost No Changes Despite Creation of Bitcoin Mining Council

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The price of the market’s largest cryptocurrency is almost the same as yesterday, as then it was trading at $37,424.66, while now it stays at $37,238.80, with a difference of less than $200.

As can be seen on the chart above, all the assets from the top 5 of CoinMarketCap’s ranking are growing except Bitcoin, which shows a 1.53% decline. The composition of the top 5 has remained unchanged, and so have the prices, which are almost identical.

Despite Elon Musk’s recent announcement on the meeting he has held with major North American miners that has resulted in the creation of the Bitcoin Mining Council, the news had not affected the crypto market. According to Musk, the aim of the council is to move from fossil fuels to renewable sources to power the devices that allow cryptocurrency mining. We could have thought the news would drive the Bitcoin price up, however, this has not yet happened.

Today we have also reported that Tether’s market cap has broken above $60B. However, as we should know, this is not due to an increase in the price of the USDT token, which is always around $1 as it is pegged to the US dollar, but the result of the minting of new tokens.