ISLAMABAD
The cryptocurrency market turned green on Wednesday, lifting the market capitalisation up by 0.8 percent to $1.2 trillion.
As of 1300 hours GMT, the oldest and most valued crypto coin Bitcoin (BTC) surged to $28,175, reflecting an increase of 1.6 percent. With this increase in price, the market capitalisation of the biggest crypto has reached $544.4 billion. Bitcoin has shed 1.8 percent of its value over the last seven days.
Over the last 24 hours, the price of Bitcoin has remained stable without significant fluctuations. As the blockchain congestion eases, BTC’s value began to rebound.
Similarly, Ether (ETH), the world’s second-largest cryptocurrency by market capitalisation, gained 1.8 percent to reach $1,881. With this increase in price, the market capitalisation of ETH has reached $226.3 billion. ETH has been 0.5 percent up in the past seven days.
Similarly, Binance Coin (BNB) price surged 0.4 percent to reach $316. With this increase in price, the market capitalisation of BNB has reached $49.9 billion. BNB has shed 2 percent of its value during the last seven days.
Likewise, Ripple (XRP) price went up by 1.3 percent to $0.43. The market capitalisation of XRP stands at $22.5 billion with this increase. XRP has shed 6.6 percent of its value during the last seven days.
Cardano (ADA) also remained on the upward trajectory as it gained 1 percent to reach $0.37. Its market capitalisation has reached $12.9 billion with this increase. ADA has shed 6 percent of its value in the past seven days.
Meanwhile, the experts have said that a “fire hose” of differing regulatory approaches to crypto-assets lack the global consensus needed to attract established investors that would create a maturer market.
The European Union has finalised the world’s first comprehensive rules for crypto-asset markets, known as MiCA, but others like Britain and the United States are further behind. Apart from compliance with rules to stop money laundering and terrorist financing, crypto firms are largely unregulated in many parts of the world, according to experts.
