#SwingTradingStrategy Arincen - The performance of cryptocurrencies varied during trading on Thursday, with caution prevailing among investors amid global volatility and geopolitical tensions in the Middle East.
In an unprecedented historical move, the U.S. Senate passed legislation regulating stablecoins tied to the U.S. dollar, reflecting a significant shift in U.S. government policies.
This decision is a major victory for the cryptocurrency industry and President Donald Trump, who pledged to make the United States a global center for the crypto industry.
Under this legislation, stablecoins tied to the dollar are required to hold reserves equal to their value entirely, in the form of short-term government debt or similar financial instruments subject to oversight by regulatory authorities at the federal or local level.
The price of the cryptocurrency Bitcoin decreased during today's session by 0.25% to reach $104,929, amid investors following developments in the ongoing conflict in the Middle East.
The market capitalization of the world's most famous cryptocurrency stabilized at $2.08 trillion, while its trading volume over the last 24 hours rose to $48.71 billion.
On a weekly basis, Bitcoin lost about 3.12% of its value, amid investor aversion to high-risk assets.
As for the prices of other cryptocurrencies, the price of Ethereum decreased by 0.32% to reach $2,519, while Binance Coin lost about 1.14% of its value, bringing its price to $644.
The price of Cardano fell by 2.09% to $0.6009, while the price of Ripple dropped by about 0.31% to $2.1609.
The price of Dogecoin decreased by 0.07% to $0.170519.