ISLAMABAD: The cryptocurrency market remained bearish on Thursday amid selling pressure, decreasing the market capitalisation by 0.3 percent to $1.18 trillion. As of 1130 hours GMT, the oldest and most valued crypto coin Bitcoin (BTC) slipped to $27,461, reflecting a decrease of 0.6 percent. With this decrease in price, the market capitalisation of the biggest crypto has reached $532 billion. Bitcoin has shed 6.1 percent of its value over the last seven days. Bitcoin’s price experienced a brief surge above the $28,200 mark following the release of the US CPI report a day earlier, which indicated a slowdown in annual inflation from 5 percent in March to 4.9 percent in April. However, it was soon rejected and dropped below the $27,000 level for the first time in two weeks with increasing selling pressure. Similarly, Ether (ETH), the world’s second-largest cryptocurrency by market capitalisation, shed 1.2 percent to reach $1,824. With this decrease in price, the market capitalisation of ETH has reached $219.5 billion. TLTP
ETH has been 4.5 percent up in the past seven days.
However, Binance Coin (BNB) price surged 0.4 percent to reach $312. With this increase in price, the market capitalisation of BNB has reached $49.33 billion. BNB has shed 4.2 percent of its value during the last seven days.
On the other hand, Ripple (XRP) price went down by 0.1 percent to $0.426. The market capitalisation of XRP stands at $22.1 billion with this decrease. XRP has shed 7.6 percent of its value during the last seven days.
Cardano (ADA) remained on the upward trajectory as it gained 0.9 percent to reach $0.36. Its market capitalisation has reached $12.66 billion with this increase. ADA has shed 8.4 percent of its value in the past seven days.
Other popular altcoins — including the likes of Dogecoin (DOGE), Litecoin (LTC), and Solana (SOL) — landed in the reds across the board. KAVA emerged to be the biggest gainer of the lot, with a 24-hour gain of over 8 percent.
