Cryptocurrency Bitcoin has stabilised after touching a record high on Tuesday, before plummeting soon after. The record high was fueled by investors pouring money into US spot exchange-traded crypto products and the prospect that global interest rates may fall.
The world's largest cryptocurrency hit a high of $69,202 (AED 254,172) topping November 2021's all-time peak of $68,999.99 (AED 253,430).
Investor interest has increased since the Securities and Exchange Commission approved 11 spot bitcoin ETFs in late January. It then reversed course and was recently down around 7 per cent at $63,400 (AED 232,861).
Nakheel awards contract to upgrade western shoreline at Dubai Islands
UAE and Thailand conclude trade deal talks
Abu Dhabi unveils major AI training programme for government and public
IMF reaches staff deal with Pakistan, potentially unlocking $1.2 billion
African Union launches continent's first credit rating agency
