ISLAMABAD: The cryptocurrency market remained positive on Tuesday, with the market capitalization gaining 0.3 percent to reach $2.56 trillion. As of 1330 hours GMT, the price of Bitcoin, the world’s oldest and most valued cryptocurrency, inched up to $66,106 with an increase of 0.1 percent in the last 24 hours. The market capitalization of the biggest crypto has reached $1.302 trillion with this increase. Bitcoin has been 4.9 percent up in the past seven days. Bitcoin managed to remain stable at around $66,000. In the past 48 hours, Bitcoin bounced back to $67,000 after touching the $60,000 mark, possibly due to easing tensions in the Middle East and lower Bitcoin transaction fees following the halving. Bulls maintain their stance against bears. A sustained close above $67,000 could lead to a challenge of the $68,500 resistance, with support at $64,300. The much-anticipated bitcoin halving event was on April 19, 2024. TLTP
The block reward for bitcoin miners was reduced by half, from 6.25 BTC per mined block to 3.125 BTC per mined block. The cryptocurrency has witnessed a remarkable 137 percent surge over the past year. However, major Bitcoin miners are banking on the cryptocurrency’s price rising above $80,000 once the anticipated post-halving bull run kicks in.
However, Ether (ETH), the world’s second-largest cryptocurrency by market capitalization, shed 0.8 percent to reach $3,178. With this decrease in price, the market capitalization of ETH has reached $388 billion. ETH has gained 3.4 percent of its value during the last seven days.
On the other hand, Binance Coin (BNB) price increased by 1.5 percent to reach $604. The market capitalization of BNB has reached $92.9 billion with this increase. BNB has gained 11.8 percent of its value during the last seven days.
Similarly, Solana price inched up by 0.1 percent to reach $154. With this increase in price, its market capitalization has reached $68.9 billion. SOL has gained 15.2 percent of its value during the last seven days.
In the same way, the price of Ripple (XRP) increased by 1.7 percent to reach $0.543. The market capitalization of XRP stands at $29.9 billion with this increase. XRP has gained 11.3 percent of its value during the last seven days.
Other popular altcoins including Dogecoin (DOGE), Cardano (ADA), and Litecoin (LTC) saw a mix of minor gains and dips. The PENDLE token emerged as the biggest gainer of the lot, with a 24-hour jump of over 11 percent. ONDO became the biggest loser, with a 24-hour dip of over 5 percent. TLTP
