Cryptocurrency Price Today: Bitcoin Surpasses $70,000 on “BTC Pizza Day” Anniversary, Altcoins Move Sideways

On Wednesday, May 22, Bitcoin recorded a slight loss of 2.54%. The value of BTC on domestic and international exchanges at the time of writing this article was $72,182 (around Rs. 60 lakh) and $70,036 (around Rs. 58.3 lakh), 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 (approximately Rs. 3,330) pizza from Papa John’s, making it the first real-world good to ever be purchased using Bitcoin. The buyer of this pizza was Laszlo Hanyecz, a software programmer based in Florida, United States.

“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 which has now become a symbol of Bitcoin’s journey from digital experiment to mainstream financial phenomenon,” Edul Patel, CEO of Mudrex, told Gadgets360 that the cryptocurrency investment firm is using this day to spread awareness about BTC and distribute pizzas to over 2,000 children in Bengaluru.

Ethereum recorded an impressive 11.35% increase on May 20, marking its most substantial one-day percentage gain since Thursday, November 9, 2023. Over the past 24 hours, however, the asset has undergone a price correction that has brought its value to $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 in the broader cryptocurrency market. Over the past week, ETH has become the central focus of activity, with on-chain data indicating increased investor engagement at scale. This recovery in the price of Ethereum has triggered significant whale activity, highlighting a crucial 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 with losses on Wednesday.

Bitcoin Cash, Chain shirt, Close to the protocolAND Polygon also recorded losses.

The overall cryptocurrency market capitalization fell 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 maintained profits on Wednesday.

“As ETH and related coins have risen, 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 the leading protocols being the ETH Staking from Lido and Coinbase ETH ETF will be approved, a new all-time high in TVL will not be a distant dream,” the CoinSwitch Markets Desk told Gadgets360.

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