Bitcoin Almost Reached $40,000 While Ether Rose to $2,309

The price of two major cryptocurrencies jumped on Wednesday. Bitcoin gained more than 8% to $39,937. Its price rose in the last couple of sessions amid speculation that e-commerce giant Amazon planned to accept Bitcoin as a form of payment. Comments from Ark Investment Management LLC’s Cathie Wood and Tesla CEO Elon Musk also supported its momentum.

Another main cryptocurrency Ether rose nearly 7% to $2,309. Other cryptocurrencies like XRP, Cardano, Uniswap, Stellar, Litecoin also gained more than 4% over the last 24 hours. Ethereum, as well as Bitcoin, rallied in the previous week after sinking in May on concerns about Bitcoin’s environmental impact. A regulatory crackdown in China, which was the main BTC mining hub also affected the prices.

The trading volume of Ether and Bitcoin

The trading volume of Ether grew faster than that of the world’s largest cryptocurrency in the first half of 2021. The main crypto exchange Coinbase analyzed data from 20 major exchanges worldwide and came to an interesting conclusion. The trading volume of Bitcoin for the first half of the year reached $2.1 trillion. Its trading volume rose from $356 billion over the first half of 2020 to $2.1 trillion.

In the same period, Ether’s total trading volume rose to $1.4 trillion, up 1.461% from $92 billion in the first half of last year. For the first time in its history Ether’s trading pace surpassed Bitcoin’s trading pace during a sustained period of time.

Amazon, Tesla, and the major cryptocurrency

In another news, Tesla Inc’s June quarter earnings showed that the company was still holding $1.3 billion worth of Bitcoin. Recently, Tesla CEO Elon Musk stated that Tesla is not going to sell Bitcoin.

This month, the e-commerce giant Amazon listed a job opening for a cryptocurrency and blockchain product lead. Nevertheless, the company in a statement rejected as “fabricated” a report that said the company would be accepting payment in Bitcoin by the end of 2021. But e-commerce stated that it is exploring what the use of cryptocurrencies would look like on Amazon.

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