ISLAMABAD
The cryptocurrency market remained lacklustre on Thursday, with the market cap losing 0.9 percent to reach $1.15 trillion.
As of 1140 hours GMT, Bitcoin (BTC), the world’s most valued token, dipped to $26,444 with a decrease of 1.3 percent in the last 24 hours. The market capitalisation of the biggest crypto reached $513 billion with this decrease. Bitcoin has been 1.6 percent down in the past seven days.
Amid ongoing tensions between the US SEC and Binance and Coinbase, Bitcoin managed to hold on to the $26,000 range early Thursday. However, it was unable to reclaim its position above $27,000. The current support level for BTC is $26,200, with resistance observed at $26,600. If the immediate resistance can be overcome, there is a potential for further price increases.
Ether (ETH), the world’s second-largest cryptocurrency by market capitalisation, shed 1.6 percent to reach $1,845. With this decrease in price, the market capitalisation of ETH has reached $221.8 billion. ETH has been 0.9 percent down in the past seven days.
Similarly, Binance Coin (BNB) price went further down by 4.1 percent to reach $263. With this decrease in price, the market capitalisation of BNB has reached $41 billion. BNB has shed 13.7 percent of its value during the last seven days.
Likewise, Ripple (XRP) price fell 1.4 percent to reach $0.522. The market capitalisation of XRP stands at $27.1 billion with this decrease. XRP has gained 3 percent of its value during the last seven days.
On the other hand, Cardano (ADA) price dipped 4.2 percent to reach $0.326. Its market capitalisation has reached $11.4 billion with this decrease. ADA has shed 9.9 percent of its value in the past seven days.
Other popular altcoins including Dogecoin (DOGE), Litecoin (LTC) and Solana (SOL) landed in the red across the board. The Stacks (STX) token managed to remain the biggest gainer of the lot, with a 24-hour gain of over 6 percent. KAVA, on the other hand, became the biggest loser, with a 24-hour dip of over 19 percent.
The market has been under pressure since the US Securities and Exchange Commission (SEC) filed back-to-back lawsuits against major crypto exchanges Binance and Coinbase over securities violations in the last few days.
