The rise in cryptocurrency prices dominated Wednesday's trading, as markets await the release of the minutes from the Federal Reserve meeting held on July 29 and 30, to gauge future monetary easing prospects.
Bitcoin rose by 0.45% to $113,758 at 12:52 PM Mecca time, accounting for about 59% of the total cryptocurrency market value.
Meanwhile, Ethereum, the second largest cryptocurrency by market capitalization, increased by 1.7% to $4,220.71, while Ripple declined by 0.4% to around $2.8912.
According to the "FedWatch" tool, expectations for a 25 basis point rate cut during the September meeting rose to 82.9% from 55.9% a month ago.
The global market capitalization of cryptocurrencies stands at $3.84 trillion, while the total trading volume over the past 24 hours reached $185.44 billion, according to "CoinMarketCap" data.
According to data from the Bitcoin Office in El Salvador, the country acquired 30 additional cryptocurrencies over the past thirty days, bringing its total holdings to 6,274.18 Bitcoins, valued at $714 million.
Quoted from Argaam
