Cryptocurrency Price Today: Bitcoin Surges Above $70K on ‘BTC Pizza Day’ Anniversary, Altcoins Move Sideways

Bitcoin recorded a small loss of 2.54 percent on Wednesday, May 22. The value of BTC on domestic and international exchanges at the time of writing was $72,182 (around 60 lakh rupees) and $70,036 (around 58.3 lakh rupees), respectively. The asset, despite recording small losses, is celebrating the anniversary of Bitcoin Pizza Day, the day that gave it the status of a legitimate payment option. In 2010, a total of 10,000 Bitcoin tokens were spent to get a $40 pizza (about 3,330 rupees) from Papa John’s, making it the first real-world commodity to ever be purchased using Bitcoin. The buyer of this pizza was Laszlo Hanyecz, a software programmer based in Florida, USA.

“Bitcoin Pizza Day is a significant date in the crypto community, symbolizing the beginning of a new era in digital finance. We celebrate the very first transaction that has now become a symbol of Bitcoin’s journey from a digital experiment to a mainstream financial phenomenon,” Edul Patel, CEO of Mudrex, told Gadgets360 that the cryptocurrency investment firm is using the day to spread awareness about BTC and distribute pizzas to over 2,000 children in Bangalore.

Ethereum recorded an impressive surge of 11.35 percent on May 20, marking its largest daily percentage gain since Thursday, November 9, 2023. Over the past 24 hours, however, the asset has undergone a price correction that has led its value at $3,793 (around Rs. 3.15 lakh) after touching a high of $4,093 (around Rs. 3.40 lakh).

“The recent price rally has reignited interest among investors and enthusiasts within the broader cryptocurrency market. Over the past week, ETH has become a central focus of activity, with on-chain data indicating increased engagement from among large-scale investors. This recovery in the price of Ethereum has triggered significant whale activity, highlighting a fundamental development in the cryptocurrency landscape,” ZebPay Trade Desk told Gadgets360, commenting on the ETH market movement.

Bind, Solana, Ripple, Cardan, Shiba InuAND Tron they were hit by losses on Wednesday.

Bitcoin Cash, Mesh sweater, Nearby protocolAND Polygon also recorded losses.

The overall cryptocurrency market capitalization has dropped by 0.49% in the last 24 hours and its valuation currently stands at $2.6 trillion (approximately Rs. 2,16,43,830 crore). CoinMarketCap.

In the meantime, Binance coin, Dogemoneta, AvalancheAND Polka dot emerged among a handful of cryptocurrencies that held onto profits on Wednesday.

“With the rise of ETH and related coins, the total value locked in DeFi protocols has also increased to $100 billion and achieved this feat for the first time in two years with leading protocols Lido and Coinbase’s wrapped ETH staking .If the ETH ETF is approved, a new all-time high in TVL will not be a distant dream,” the CoinSwitch Markets Desk told Gadgets360.

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