ISLAMABAD: The cryptocurrency market inched up on Friday, with the market cap gaining 0.1 percent to reach $1.21 trillion. As of 1250 hours GMT, Bitcoin, the world’s oldest and most valued cryptocurrency, made a minor gain of 0.2 percent in the last 24 hours to reach $29,140. The market capitalization of the biggest crypto has reached $566.7 billion with this increase. Bitcoin has been 0.3 percent down in the past seven days. Bitcoin continued to trade sideways and remained below $30,000. The price of BTC has been following a descending parallel channel after reaching its highest point of the year at $31,800 on July 13. TLTP
This decline reached a low of $28,585 on August 1. However, the price then rebounded. BTC was rejected by the $29,800 resistance area a session earlier and negated most of its gains.
Similarly, Ether (ETH), the world’s second-largest cryptocurrency by market capitalization, inched up 0.1 percent to reach $1,834. With this increase in price, the market capitalization of ETH has reached $220.4 billion. ETH has been 1.8 percent down in the past seven days.
On the other hand, Binance Coin (BNB) price increased by 0.8 percent to reach $242. The market capitalization of BNB has reached $37.2 billion with this increase. BNB has gained 0.2 percent of its value during the last seven days.
Following suit, Ripple (XRP) price gained 0.2 percent in the past 24 hours to reach $0.661. The market capitalization of XRP stands at $34.87 billion with this increase. XRP has shed 6.7 percent of its value during the last seven days.
Dogecoin (DOGE) price saw an increase of 1.3 percent in price to reach $0.074. The market capitalization of DOGE has reached $10.41 billion with this increase. DOGE has lost 3.2 percent of its value during the last seven days. With the latest increase in price, DOGE has replaced Cardano (ADA) as fifth top cryptocurrency on the basis of market capitalization, excluding the stable coins. Market cap of ADA stood at $10.29 billion at the time of filing of this report.
Other popular cryptos including ADA and Solana (SOL) made minor gains across the board. The XDC Network (XDC) token emerged to be the biggest gainer, with a 24-hour jump of nearly 15 percent. Litecoin (LTC), on the other hand, turned out to be the biggest loser, with a 24-hour dip of around 5 percent.
