Cryptocurrency prices continue to be in the red on June 17. The global cryptocurrency market cap is $1.6 trillion, 5.96 percent decrease over the last day while the total crypto market volume over the last 24 hours is $89 billion, which makes a 0.93 percent increase.https://imasdk.googleapis.com/js/core/bridge3.466.0_en.html#goog_1153911169https://imasdk.googleapis.com/js/core/bridge3.466.0_en.html#goog_1312068199
The volume of all stable coins is now $$68.93 billion – 77.32 percent of the total crypto market 24-hour volume. Bitcoin’s price is currently $38,687.69 and its dominance is currently 45.1 percent, an increase of 1.22 percent over the day.
This comes after the Central bank digital currencies will complement cryptocurrencies rather than competing with them despite not being structurally different from their country’s fiat currencies, strategists and fund managers said.Around 90 percent of the world’s central banks are now working on their own digital currencies, some of which may be issued in the next three years, a January survey from the Bank for International Settlements showed.
Central bank digital currencies (CBDCs) “are structurally no different than fiat, and they are very much complementary to crypto, not competitive,” Meltem Demirors, chief strategy officer at CoinShares, Europe’s largest digital asset investment firm managing $5 billion.
Moreover, Despite the cryptocurrency Bitcoin’s wild swings in value and the turmoil, billionaire venture capitalist and bitcoin investor Tim Draper is confident about his prediction that bitcoin will reach $250,000 by the end of 2022 or early 2023, reports CNBC.