Market Update – Bitcoin Drops to $38,000

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The market’s leading cryptocurrency has lost 2.16% during the past 24 hours and at press time is trading at $38,799.28.

All the altcoins from CMC’s top 5 are losing value except Ethereum and Tether, which have added 2.43% and 0.06%, respectively.

The Bitcoin dominance index amounts to 47.5%, below yesterday’s 48.2%, while the crypto’s market capitalization stands at $727,545,279,245, below yesterday’s $748,919,416,438.

Regarding the total capitalization of the market, it stands at $1.531T, slightly below the $1.548T recorded yesterday.

The most relevant news of the day is the one about PayPal planning to offer access to cryptocurrencies to its users from the United Kingdom. The company CEO Dan Schulman has said during a conference call following the presentation of its Q2 2021 results that PayPal may offer crypto services in the UK even next month.

We have also reported that cryptocurrency exchange OKCoin has just received the regulatory approval in Malta as well as new licenses in the Netherlands and Puerto Rico as part of the company’s efforts to expand its services in new jurisdictions.

As far as the non-fungible tokens market is concerned, it has become known that an NFT of a Steve Job’s job application from 1973 has been sold for 12 ETH on Rarible.

The weekend is about to start, and as we know, traders are usually more active on Fridays, Saturdays and Sundays. Will we see Bitcoin breaking above $40,000 again?