Bitcoin falls over 3% and hovers around $23,000 – Iran uses cryptocurrency for imports

The bitcoin price fell 2.65% today (August 10) to $23,216.6.

Bitcoin’s negative moves came after the Dow Jones Industrial Average fell in a narrow 58-point range on Tuesday as investors await the release of the Consumer Price Index (CPI) today.

  • The Dow Jones Industrial Average fell 58.13 points, or 0.18%, to close at 32,774.41.
  • The S&P 500 was down 17.59 points, or 0.42%, to close at 4,122.47.
  • The Nasdaq fell 150.53 points, or 1.19%, to close at 12,493.93.

Movement in the crypto space

Iranian authorities announced that Iran has paid for imports with cryptocurrencies worth $10 million for the first time.

Alireza Peyman-Pak, an official at Iran’s Ministry of Industry, Mines and Trade, said Iran will use more cryptocurrencies in foreign trade by mid-September.

The names of the cryptocurrencies Iran uses in foreign trade and the countries that receive them have not been disclosed.

Iran had previously changed the law to allow the use of domestically mined cryptocurrencies for purchases after Iran faced a foreign exchange shortage due to Western sanctions.

The Spot Market is Open

Wednesday, August 10, 2022

Crypto
Updated at
UAD
Price

Change

%Change
11.50 BTC22,989.23-324.12-1.39
11.50 ETH1,682.17-34.62-2.02
11.50 LTC58.65-1.40-2.33
11.50 BNB317.42-1.71-0.54
11.50 XRP0.36-0.01-1.95
11.50 ADA0.51-0.01-2.14
11.50 DOT8.68-0.35-3.88
11.50 DOGE0.07-0.00-3.00
11.50 UNI8.41+0.02+0.21
11.50 LINK8.48-0.06-0.74

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