ISLAMABAD: The cryptocurrency market turned around on Tuesday, with the market capitalization gaining 2.2 percent to reach $1.74 trillion. As of 1300 hours GMT, the price of Bitcoin, the world’s oldest and most valued cryptocurrency, jumped to $43,311 with an increase of 2.9 percent in the last 24 hours. The market capitalization of the biggest crypto has reached $849.5 billion with this increase. Bitcoin has been 11.7 percent up in the past seven days. Bitcoin (BTC) managed to rise above the $43,000 mark early Tuesday as investors keep a close eye on the US Federal Open Market Committee (FOMC) meeting, scheduled for January 30-31, and its call on the benchmark interest rate. TLTP
Bitcoin’s recovery over the past 24 hours has brought it to the $43,000 level, signalling the potential for further upward movement if bulls can reach $44,700. A reversal by bulls might indicate a range-bound situation, and the current support is at $41,950.
On the other hand, Ether (ETH), the world’s second-largest cryptocurrency by market capitalization, went up by 2.1 percent to reach $2,302. With this increase in price, the market capitalization of ETH has reached $276.7 billion. ETH has gained 4.1 percent of its value during the last seven days.
Following suit, Binance Coin (BNB) price increased by 0.5 percent to reach $309. The market capitalization of BNB has reached $47.6 billion with this increase. BNB has gained 4.4 percent of its value during the last seven days.
On the other hand, Solana price increased by 7.7 percent to reach $104. With this increase in price, its market capitalization has reached $45.5 billion. SOL has gained 30.8 percent of its value during the last seven days.
Similarly, the price of Ripple (XRP) increased by 0.9 percent to reach $0.529. The market capitalization of XRP stands at $28.8 billion with this increase. XRP has gained 4.9 percent of its value during the last seven days.
The PENDLE token emerged to be the biggest gainer of the lot, with a 24-hour jump of over 15 percent. MNT, on the other hand, became the biggest loser, with a 24-hour dip of over 5 percent.
