ISLAMABAD
The cryptocurrency market turned around on Thursday, eroding some losses of the previous session, with the market cap gaining 2.2 percent to reach $1.07 trillion.
As of 1130 hours GMT, Bitcoin (BTC), the world’s most valued token, rose to $25,519 with an increase of 2.6 percent in the last 24 hours. The market capitalisation of the biggest crypto has reached $495.2 billion with this increase. Bitcoin has been 4.2 percent down in the past seven days.
Bitcoin has surged above the $25,500 mark within the last 24 hours, recovering from a three-month low it hit a session earlier. The filing of an application by BlackRock for a crypto-backed exchange-traded fund has driven BTC’s gain, effectively putting an end to its three-day losing streak. These developments have unfolded amidst the US Securities and Exchange Commission’s legal actions against Binance and Coinbase.
Similarly, Ether (ETH), the world’s second-largest cryptocurrency by market capitalisation, surged 2.1 percent to reach $1,668. With this increase in price, the market capitalisation of ETH has reached $200.6 billion. ETH has been 9.5 percent down in the past seven days.
Following suit, Binance Coin (BNB) increased by 1.1 percent to reach $235. With this increase in price, the market capitalisation of BNB has reached $36.6 billion. BNB has shed 9.7 percent of its value during the last seven days.
However, Ripple (XRP) price slipped 0.8 percent to reach $0.470. The market capitalisation of XRP stands at $24.6 billion with this decrease. XRP has shed 10.5 percent of its value during the last seven days.
On the other hand, Cardano (ADA) price gained 1.1 percent to reach $0.258. Its market capitalisation has reached $9.07 billion with this increase. ADA has shed 18 percent of its value in the past seven days.
Other popular altcoins including Dogecoin (DOGE), Litecoin (LTC) and Solana (SOL) saw a mix of gains and dips across the board. KuCoin Token (KCS) emerged to be the biggest gainer, with a 24-hour jump of over 13 percent. Hedera (HBAR), on the other hand, became the biggest loser, with a 24-hour dip of nearly 8 percent.
