Majority of the digital tokens were trading flat, with minor changes, on Friday. Cryptocurrency prices have been in a slump this year as the Federal Reserve withdraws stimulus and hikes rates to combat inflation.
On the other hand, globally investors and asset classes awaited the latest Consumer Price Index (CPI) data due on June,10, which might show a continued trend that inflation has peaked.
Bitcoin price has dropped 0.77 percent in the last 24 hours to $30,093. In rupee terms, Bitcoin fell 0.70 percent to trade at ₹2,343,802 at 12:40 am (IST). In the last 7 days, the digital token price has decreased by 2.75 percent, according to CoinDesk data. However, Bitcoin is holding on to the above $30,000 early on June 10, which is a big relief to investors.
Ether, the world’s second-largest cryptocurrency in terms of market capitalization, also fell 0.67 percent to $1,789. In rupee terms, Ethereum tumbled 0.56 percent to trade at ₹139,298 in the last 24 hours. In the last 7 days, the digital token price has decreased by 2.79 percent.
Meme tokens like Avalanche slightly rose 0.20 percent, whereas Dogecoin and Cardano traded in the red. On the other hand, Solana jumped over 3 percent after announcing a $100 Million investment for GameFi, DeFi, And NFTs in South Korea.
The global cryptocurrency market capitalisation today remained below $1.24 trillion, a 0.65% decrease over the last day. The total crypto market volume over the last 24 hours is $58.91 billion, a 7.76 percent decrease as per CoinMarketCap data.
A Recent BCG report said, "the opportunity for wealth managers is clear: nearly 80% of clients surveyed said that they would consider increasing their crypto holdings if wealth managers offered advisory and education services."
Further, as per the BCG report, two-thirds of clients who sourced their crypto investment with third parties said that they did so because they didn’t think their wealth managers offered such services.
"To determine whether crypto is right for their businesses, wealth managers must consider if, when, and how they want to participate," the BCG report said.