New Delhi: After a short profit taking, major cryptocurrencies were back on the green track, thanks to buying in major digital tokens. All of the top-10 cryptocurrencies were trading higher at 9.30 hours IST. Bitcoin, Ethereum and Uniswap led the rally, gaining up to 10 per cent.
Outflows from the world's most popular cryptocurrency totaled $33 million in the week ended Aug. 6, compared with $19.7 million the previous week. But so far this year, Bitcoin inflows remained a robust $4.2 billion.
Bitcoin has rallied over 20% over the past week, as it crossed the $46,000 mark, and topped off at $46,450. This is the highest level the asset has been at since the mid-May sell-off that took place. The rally was supported by good volumes and momentum, said ZebPay Trade Desk.
"On-chain metrics are also good, with new BTC entities participating in the rally. Despite the surge, investors remain cautious, especially after the proposal submitted to the US Treasury Services which suggests that digital asset transactions worth more than $10,000 should be reported to the Internal Revenue Service (IRS), including validators, miners, and protocol developers," it added.
Homegrown cryptocurrency exchange CoinDCX has raised $90 million (about Rs 668 crore) in its Series C round, led by Facebook co-founder Eduardo Saverin B Capital. The funding values the company at $1.1 billion, making it the latest entrant to the unicorn club.