ISLAMABAD
The cryptocurrency market gained 1.3 percent on Thursday to lift market capitalisation to $2.46 trillion as of 1245 hours GMT.
The largest cryptocurrency Bitcoin price went slightly up by 0.48 percent to reach $49,327. The price is down by 13.40 percent over the last seven days. With this increase in price, the market capitalisation of the biggest cryptocurrency has reached 932 billion.
Ether, the world’s second-largest cryptocurrency by market capitalisation, gained 0.98 percent to reach $4,304. With this increase in price, the market capitalisation of ETH has reached $505.8 billion. Ether’s price is down by 8.9 percent over the last seven days.
Similarly, XRP price took a giant leap of 12.96 percent to reach $0.916. The market capitalisation of XRP stands at $91.6 billion after this increase.
However, Cardano (ADA) price shed 0.08 percent to reach $1.36. Its market capitalisation has reached $44.8 billion with this decrease.
On the other hand, Dogecoin (DOGE) price gained 2.42 percent to reach $0.178. With this increase in price, the market capitalisation of DOGE has reached $23.6 billion.
Meanwhile, Dog-themed cryptocurrencies – Dogecoin and Shiba Inu – suffered a drop in market capitalisation, falling out of the top 10 cryptocurrencies.
While the popularity of DOGE and SHIB drops, Hamster coin and Shar Pie are posting double-digit gains overnight.
Hamster coin (HAM) posted nearly 70% gains overnight, while Shar Pie’s price has increased 118% over the past 24 hours. Dogecoin and Shiba Inu have lost their social dominance and are being replaced by meme coins like HAM and SHARPIE that offer higher gains. Alongside the fading meme coin frenzy, altcoins are making a comeback in the ongoing bull run.
On the other hand, top executives from six major cryptocurrency companies including Coinbase and Circle on Wednesday urged the US Congress to provide clearer rules for the booming $3 trillion industry but warned that overly tough restrictions would push it overseas.
The U.S. House of Representatives Financial Services Committee hearing marked the first time the industry’s senior leaders have explained their businesses to U.S. lawmakers amid growing concerns cryptocurrencies may pose systemic risks and hurt investors.
