ISLAMABAD
The cryptocurrency market turned positive on Sunday after going down in previous session, with the market cap inching up 1.1 percent to reach $1.1 trillion.
As of 1245 hours GMT, Bitcoin (BTC), the world’s most valued token, rose to $25,786 with an increase of 0.5 percent in the last 24 hours. The market capitalisation of the biggest crypto reached $500.2 billion with this increase. Bitcoin has been 5.2 percent down in the past seven days.
Ether (ETH), the world’s second-largest cryptocurrency by market capitalisation, gained 0.5 percent to reach $1,750. With this increase in price, the market capitalisation of ETH has reached $210.3 billion. ETH has been 8.1 percent down in the past seven days.
However, Binance Coin (BNB) price went further down by 0.3 percent to reach $236. With this decrease in price, the market capitalisation of BNB has reached $36.9 billion. BNB has shed 22.9 percent of its value during the last seven days.
On the other hand, Ripple (XRP) price surged 3.8 percent to reach $0.511. The market capitalisation of XRP stands at $26.6 billion with this increase.
XRP has shed 2.7 percent of its value during the last seven days.
Similarly, Cardano (ADA) price jumped 7.5 percent to reach $0.270. Its market capitalisation has reached $9.5 billion with this increase. ADA has shed 28.9 percent of its value in the past seven days.
Other popular altcoins including Litecoin and Dogecoin landed in the negative as overall prices saw minor losses across the board. Filecoin (FIL) emerged to be the biggest gainer, seeing a 24-hour jump of over 18.41 percent. Frax Share (FXS), on the other hand, turned out to be the biggest loser.
Tensions arise from the conflict between the SEC and Binance and Coinbase, while concerns regarding inflation and central bank hawkishness add to the market unease.
The market has been under pressure since the US Securities and Exchange Commission (SEC) filed back-to-back lawsuits against major crypto exchanges Binance and Coinbase over securities violations in the last few days. Binance.US said on Thursday it is suspending USD deposits and that its banking partners are preparing to pause fiat dollar withdrawal channels as early as June 13.
