ISLAMABAD: The cryptocurrency market took a breather on Thursday, with the market capitalization losing 0.9 percent to reach $1.65 trillion. As of 1220 hours GMT, the price of Bitcoin, the world’s oldest and most valued cryptocurrency, shed 2.3 percent in the last 24 hours to reach $43,105. The market capitalization of the biggest crypto has reached $843.3 billion with this decrease. Bitcoin has been 13.8 percent up in the past seven days. Bitcoin surged to $44,070 for the first time since April 2022 on Wednesday last. Bitcoin’s price was fueled by optimism that the SEC will approve a spot ETF in the same year of BTC’s next quadrennial halving. Adding to the bullish optimism was the expectation that the US Federal Reserve will end its rate-hike campaign amid slowing inflation and a weakening labor market. TLTP
Similarly, Ether (ETH), the world’s second-largest cryptocurrency by market capitalization, shed 1.2 percent to reach $2,236. With this decrease in price, the market capitalization of ETH has reached $268.2 billion. ETH has gained 9.5 percent of its value during the last seven days.
On the other hand, Binance Coin (BNB) price surged by 0.2 percent to reach $231. The market capitalization of BNB has reached $35.3 billion with this increase. BNB has gained 0.8 percent of its value during the last seven days.
Following suit, the price of Ripple (XRP) increased by 1.2 percent to reach $0.631. The market capitalization of XRP stands at $34 billion with this increase. XRP has gained 4.2 percent of its value during the last seven days.
Similarly, Solana (SOL) price inched up by 0.9 percent to reach $63.89. With this increase in price, its market capitalization has reached $27.2 billion. SOL has gained 5.4 percent of its value during the last seven days.
