ISLAMABAD: The cryptocurrency market continued with its bullish trend on Thursday, with the market capitalization gaining 2.8 percent to reach a 16-month high of $1.43 trillion. As of 1110 hours GMT, the price of Bitcoin, the world’s oldest and most valued cryptocurrency, BTC gained 3.8 percent in the last 24 hours to reach $36,781. The market capitalization of the biggest crypto has reached $718.6 billion with this increase. Bitcoin has been 3.9 percent up in the past seven days. Bitcoin climbed above the $36,000 mark for the first time this year as well as for the first time in the last 18 months. Notably, Bitcoin’s price has surged by over 115 percent since the beginning of the year. The market awaits updates on the Bitcoin Spot ETF applications pending approval from the US Securities and Exchange Commission (SEC). The SEC now has an eight-day period during which it could approve all 12 spot Bitcoin (BTC) ETF applications. If not approved within this timeframe, market participants will have to wait until early 2024 for any updates from the SEC. Similarly, Ether (ETH), the world’s second-largest cryptocurrency by market capitalization, gained 1.4 percent to reach $1,913. TLTP
With this increase in price, the market capitalization of ETH has reached $230 billion. ETH has been 4.2 percent up in the past seven days.
Following suit, Binance Coin (BNB) price surged 1.4 percent to reach $250. The market capitalization of BNB has reached $38.5 billion with this increase. BNB has gained 8.5 percent of its value during the last seven days.
On the other hand, the price of Ripple (XRP) inched up 0.2 percent to reach $0.697. The market capitalization of XRP stands at $37.4 billion with this increase. XRP has gained 12.9 percent of its value during the last seven days.
Meanwhile, Solana (SOL) price surged 7.6 percent to reach $46.71. With this increase in price, its market capitalization has reached $19.6 billion. SOL has gained 7.6 percent of its value during the last seven days.
Other popular altcoins including Dogecoin (DOGE), Cardano (ADA) and Litecoin (LTC) saw notable gains across the board. Mina (MINA) emerged to be the biggest gainer, with a 24-hour jump of over 20 percent. Trust Wallet Token (TWT) became the biggest loser, with a 24-hour dip of over 12 percent.
