09 Sep , 2022 By : Kanchan Joshi
Bitcoin price today rose to continue to trade above the $19,000 level. The world's largest and most popular cryptocurrency was trading more than a per cent higher at $19,408. The global crypto market cap today was back below the $1 trillion mark, as it was up over a per cent in the last 24 hours at $1.03 trillion, as per CoinGecko.
On the other hand, Ether, the coin linked to the ethereum blockchain and the second largest cryptocurrency, also gained about a per cent to $1,641. Ethereum is transitioning to proof-of-stake for its consensus protocol. The latest upgrade to the Ethereum network, known as Bellatrix, was activated on September 6, 2022. The next step after Bellarix will be the Paris upgrade, which boots off the miners to finalize the Merge. That upgrade is set to happen next week.
Meanwhile, dogecoin price today was trading over a per cent higher at $0.06 whereas Shiba Inu gained marginally to $0.000012. Other crypto prices' today performance also improved as Chainlink, Apecoin, XRP, Uniswap, Binance USD, Polkadot, Tether, Litecoin, Avalance, Solana, Cardano, Stellar, Tron, Polygon prices were trading with gains over the last 24 hours.
Companies that help facilitate transactions in the cryptocurrency market should register with the U.S. Securities and Exchange Commission (SEC) just like other market intermediaries, the agency's chair said on Thursday.
Gary Gensler said intermediaries in the crypto market provide a range of functions regulated by the SEC, including operating as an exchange, broker dealer, clearing agent and custodian, and should be registered accordingly, reported Reuters.
In another news, Bitcoin mining revenue has dropped to the lowest in about two years as competition increases while prices drop and energy costs soar. The hash price index, which indicates the mining revenue value per unit of computing power, dropped to around 7.7 cents for each terahash, the lowest since September 2020, according to data from crypto-mining services company Luxor Technologies.
Bitcoin miners use powerful computers to compete to be the first one that comes up with a solution to validate transactions encrypted by the Bitcoin network and win a reward in the form of newly minted tokens. However, such rewards are limited and the more competition there is on the network, the less rewards each miner will receive.