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    GLOBAL CRYPTOCURRENCY MARKET CAP

    Nvidia more valuable than these major global markets

    US-based technology giant Nvidia Corporation, currently the second-largest company in terms of global market cap, briefly ranked first on Wednesday, surpassing giants like Microsoft and Apple. Nvidia is now more valuable than some of the largest global markets, according to ET Bureau.

    Cryptocurrency Prices on June 6: Bitcoin holds near $71K, Altcoins trade flat

    On Thursday, major cryptocurrencies remained relatively steady, with speculation mounting that the U.S. Federal Reserve may implement interest rate cuts in September. At 12:14 PM, Bitcoin (BTC) experienced a slight decrease of 0.25%, trading at $70,898, while Ethereum saw a modest increase of 0.7%, reaching $3,843.

    A welfare reset can erode India's valuation premium

    India's market valuation may decrease due to potential increase in government spending on social welfare schemes. Nifty 50 index trades at 19 times forward earnings, 20% above its long-term average, while S&P 500 and Taiwanese benchmark index are also highly valued.

    India’s premium valuation may come under pressure amid fractured election mandate

    Nearly half of the Nifty 50 constituents currently trade at a premium to their historical averages. Among major global indices, the S&P 500 trades at a forward price-earnings (P/E) of 20.6, 29% higher than the long-term average

    Cryptocurrency prices on June 5: Bitcoin rises 3% to above $71,000 on Fed rate cut expectation

    Bitcoin price surged by 3% to $71,000 in the last 24 hours, driven by expectations of a Federal Reserve rate cut in September following soft U.S. job openings data. Ethereum reached $3,807 and altcoins like BNB and Solana also saw significant increases.

    Cryptocurrency prices on June 4: Bitcoin holds above $68K; Shiba Inu, Avalanche tank up to 5%

    Cryptocurrency markets, led by Bitcoin, Ethereum and Shiba Inu, traded lower today. Bitcoin touched $70,230 on positive US inflation data, fueling speculation of a potential interest rate cut by the US Fed. The global market cap fell by 0.7% to $2.55 trillion, with stablecoins totaling $76.21 billion.

    The Economic Times
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