Bitcoin trades at $84,200 per BTC on Wednesday

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Bitcoin (XBT/USD) is trading at $84,200 per 1 BTC on Wednesday, accounting for the dominant market share of around 60-70%.

The total market capitalization of cryptocurrencies exceeds $3.2 trillion.

The price of Ethereum (ETH/USD) dropped to $2,500 on Wednesday.

The current exchange rate for the cryptocurrency Tether USDТ to Russian ruble (USDT/RUB) is 87.10 rubles per 1 USDT.

Leaders in terms of trading volume and market capitalization are:

- Bitcoin,

- Ethereum,

- USDT,

- Solana, BNB Chain, Dogecoin.

It is worth noting that the pricing mechanism in the crypto market is based on the interaction of supply and demand on exchanges, where prices are formed through buy and sell orders. Key factors include limited supply, liquidity, technological updates, news, regulation (laws/bans), mining costs, market sentiment, and speculation, leading to high volatility due to decentralization and the absence of a single regulator.

The daily trading volume of the cryptocurrency market fluctuates in the range of $300 billion.

This overview was presented by Alexey Grishchenko, Ph.D., Professor at the Department of Operational and Sectoral Management of the Faculty of "Higher School of Management" at the Financial University under the Government of the Russian Federation.