Today’s Surge in Prices of Bitcoin, Ether, and Dogecoin

CoinDesk data showed that Crypto prices succeeded today, with Bitcoin surging by more than 9% to $39,938. Bitcoin prices began to gain in the last few sessions in speculation that Amazon might enter the cryptocurrency industry. After comments from Tesla CEO Elon Musk and Ark Investment Management’s Cathie Wood helped its momentum to boost.

Ether gained almost 8% to $2,308, whereas Dogecoin jumped above 6% to $0.21. Other digital tokens such as Uniswap, XRP, Cardano, Stellar, and Litecoin also surged over 5% during the last 24 hours. Both Bitcoin and Ethereum started to succeed in the past week after falling in May resulted from a regulatory crackdown in China and concerns about Bitcoin’s environmental impact.

According to a report from the US’ biggest crypto exchange, the trading volume of Ether grew faster than Bitcoin in the first quarter of the year.

After checking data from some primary exchanges, Coinbase discovered that Bitcoin’s trading volume reached $2.2 trillion. This result seems up by 488% from $357 billion during the first quarter of last year. Ether’s total trading volume approached $1.5 trillion in the same period. It went up 1,462% from $93 billion in the first quarter of 2020. According to Coinbase, this result was the first maintained period for Ether’s trading pace when it exceeded Bitcoin’s pace.

In other news, Tesla’s quarter earnings showed that the electric car company was holding $1.4 billion worth of bitcoin on its account.

Speculations around Amazon

In the meantime, Amazon’s career listing showed that the company was looking for a product leader with solid experience in Blockchain strategy to develop Amazon’s Digital Currency. However, in a statement, Amazon rejected this fabricated advertisement. The company said they do not plan to accept payments in the cryptocurrency this year. It will launch its digital coin in 2022. But it noted that the company is exploring this industry.