ISLAMABAD: The cryptocurrency market turned bullish on Thursday, with the market capitalization gaining 1.4 percent to reach $1.78 trillion. As of 1220 hours GMT, the price of Bitcoin, the world’s oldest and most valued cryptocurrency, went up by 0.6 percent in the last 24 hours to reach $43,147. The market capitalization of the biggest crypto has reached $845 billion with this increase. Bitcoin has been 1.6 percent down in the past seven days. Bitcoin witnessed a drop to the $41,700 level on Wednesday but quickly initiated a strong recovery, surpassing the $42,500 resistance and reaching $43,000. Market participants are riding on the positive sentiment generated by MicroStrategy’s increased Bitcoin holdings on Wednesday. BTC encounters immediate resistance at the $43,700 level, while support is evident at the $43,000 level. Similarly, Ether (ETH), the world’s second-largest cryptocurrency by market capitalization, gained 5.5 percent to reach $2,407. TLTP
With this increase in price, the market capitalization of ETH has reached $289.3 billion. ETH has gained 7 percent of its value during the last seven days. Ether price has made over 90 percent increase for the year.
On the other hand, Binance Coin (BNB) price rallied for the third straight session by 9 percent to reach $336. The market capitalization of BNB has reached $51.8 billion with this increase. BNB has gained 23.9 percent of its value during the last seven days. With this fresh increase in price, BNB has regained the slot of the third biggest crypto after BTC and ETH in terms of market capitalization, snatching the slot from Solana.
On the other hand, Solana faced profit-taking and its price decreased by 6.5 percent to reach $105. With this decrease in price, its market capitalization has reached $45 billion. SOL has gained 20.9 percent of its value during the last seven days.
On the other hand, the price of Ripple (XRP) increased by 3 percent to reach $0.645. The market capitalization of XRP stands at $34.9 billion with this increase. XRP has gained 4.4 percent of its value during the last seven days.
Other popular altcoins including Litecoin (LTC) and Dogecoin (DOGE) landed in the green across the board. Bitcoin SV (BSV) went on to become the biggest gainer, with a 24-hour jump of over 67 percent. SEI emerged to be the biggest loser, with a 24-hour dip of over 11 percent.
