ISLAMABAD: The cryptocurrency market remained mixed on Wednesday, with the market capitalization gaining 0.7 percent to reach $1.75 trillion. As of 1300 hours GMT, the price of Bitcoin, the world’s oldest and most valued cryptocurrency, went up by 0.4 percent in the last 24 hours to reach $42,904. The market capitalization of the biggest crypto has reached $839.6 billion with this increase. Bitcoin has been 0.1 percent down in the past seven days. BTC dipped below the $43,000 mark early Wednesday, and also briefly went below $42,000 before quickly recovering. Bitcoin slipped below the $42,000 level, as profit-taking among certain market participants intensified. The market is currently witnessing a tense battle for control, with a narrow range constraining the influence of both bulls and bears. Despite a 37% retracement from its peak, Bitcoin maintains strength above the critical $40,000 support level. TLTP
Similarly, Ether (ETH), the world’s second-largest cryptocurrency by market capitalization, gained 1.5 percent to reach $2,281. With this increase in price, the market capitalization of ETH has reached $274.2 billion. ETH has gained 1.5 percent of its value during the last seven days. Ether price has made around 90 percent increase for the year.
On the other hand, Solana faced profit-taking and its price decreased 3.5 percent to reach $112. With this decrease in price, its market capitalization has reached $48 billion. SOL has gained 45.3 percent of its value during the last seven days. Now Solana is the third biggest crypto after BTC and ETH in terms of market capitalization, snatching the slot from Binance Coin.
On the other hand, Binance Coin (BNB) price surged by 6.2 percent to reach $309. The market capitalization of BNB has reached $47.7 billion with this increase. BNB has gained 20.6 percent of its value during the last seven days.
On the other hand, the price of Ripple (XRP) decreased by 0.5 percent to reach $0.627. The market capitalization of XRP stands at $33.9 billion with this decrease. XRP has gained 2.5 percent of its value during the last seven days.
Other popular altcoins including Litecoin (LTC) and Dogecoin (DOGE) landed in the red across the board. Mina (MINA) went on to become the biggest gainer, with a 24-hour jump of over 21 percent. Memecoin BONK became the biggest loser, with a 24-hour dip of over 16 percent.
