![Cryptocurrency Price on May 20: Bitcoin trades near $67k; Avalanche, Shiba Inu fall over 4%](https://img.etimg.com/thumb/msid-110460828,width-210,height-158,imgsize-425094,resizemode-75/cryptocurrency-price-on-may-20-bitcoin-trades-near-67k-avalanche-shiba-inu-fall-over-4.jpg)
Ethereum, the largest altcoin, has witnessed remarkable growth since the news of the SEC approving the listing of ETH ETFs became public. Ethereum has delivered stellar returns of around 27% in just seven days and the momentum is expected to sustain in the coming weeks owing to favorable macroeconomic factors, said Shivam Thakral, CEO of BuyUcoin.
Bitcoin witnessed a marginal dip in its price over the weekend and is trading at $68,700 mark at the time of writing. Bitcoin needs to sustain above the $70,000 level for at least a couple of weeks to spark a new rally, Thakral said.
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Among other major crypto tokens, XRP (-2%), Dogecoin (-4%), Avalanche (-1.7%), Chainlink (-3.2%), Tron (-1.5%), Bitcoin Cash (-2%), and NEAR Protocol (-3.6%) declined.
The global cryptocurrency market cap fell 0.02% to around $2.57 trillion in the last 24 hours, while the total crypto market volume was $67.94 billion, which makes a 29.82% increase. The volume of all stablecoins is now $61.63 billion, which is 90.71% of the total crypto market 24-hour volume, as per data available on CoinMarketCap.
In the last 24 hours, the market cap of Bitcoin, the world's largest cryptocurrency, fell to $1.353 trillion. Bitcoin's dominance is currently 52.55%, according to CoinMarketCap. BTC volume in the last 24 hours rose 21.2% to $18.63 billion.
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Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.
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