ISLAMABAD: The cryptocurrency market turned positive on Friday following Thursday’s news that the US Securities and Exchange Commission (SEC) was offering final comments to issuers, possibly paving the way for Bitcoin spot exchange-traded fund (ETF) approval, with the market capitalization gaining 1 percent to reach $1.74 trillion. As of 1300 hours GMT, the price of Bitcoin, the world’s oldest and most valued cryptocurrency, surged to $43,927 with a gain of 1.2 percent in the last 24 hours. The market capitalization of the biggest crypto has reached $860.6 billion with this increase. Bitcoin has been 2.4 percent up in the past seven days. Bitcoin briefly breached the $44,000 level following Thursday’s news that the SEC was offering final comments to issuers, possibly paving the way for Bitcoin spot ETF approval. This recovery erased Wednesday’s crash, reinstating optimism in the market. Earlier, Bitcoin saw a decline after surpassing the $45,000 mark on Thursday. Similarly, Ether (ETH), the world’s second-largest cryptocurrency by market capitalization, inched up by 0.2 percent to reach $2,245. With this increase in price, the market capitalization of ETH has reached $269.8 billion. ETH has shed 5.3 percent of its value during the last seven days. Following suit, Binance Coin (BNB) price inched up by 0.1 percent to reach $318. The market capitalization of BNB has reached $49 billion with this increase. TLTP
BNB has gained 0.1 percent of its value during the last seven days.
On the other hand, Solana price increased by 1.2 percent to reach $101. With this increase in price, its market capitalization has reached $43.3 billion. SOL has shed 6.4 percent of its value during the last seven days.
However, the price of Ripple (XRP) decreased by 1.5 percent to reach $0.570. The market capitalization of XRP stands at $30.9 billion with this decrease. XRP has shed 9.6 percent of its value during the last seven days.
Popular altcoins including Litecoin (LTC), Cardao (ADA) and Dogecoin (DOGE) saw minor gains across the board. The Celestia (TIA) token went on to become the biggest gainer of the lot, with a 24-hour jump of over 18 percent. SEI, on the other hand, became the biggest loser with a 24-hour dip of over 10 percent.
