ISLAMABAD
The cryptocurrency market remained on a downward slide on Monday for the second straight session, with the market capitalization losing 1.2 percent to reach $1.05 trillion.
As of 1105 hours GMT, Bitcoin, the world’s oldest and most valued cryptocurrency, shed 0.3 percent in the last 24 hours to reach $25,684. The market capitalization of the biggest crypto has reached $500.4 billion with this decrease. Bitcoin has been 0.6 percent down in the past seven days.
Bitcoin has been trading above the $25,700 level for the last two days. The price of Bitcoin experienced a momentary push above $26,000 on Friday. However, this surge was short-lived, with bearish sentiment prevailing, indicating an ongoing struggle between bulls and bears. Bitcoin’s current resistance is at $26,500, and if the price drops from its current position, it will find immediate support at $25,300.
Similarly, Ether (ETH), the world’s second-largest cryptocurrency by market capitalization, dipped 1.9 percent to reach $1,592. With this decrease in price, the market capitalization of ETH has reached $191.3 billion. ETH has been 2.4 percent down in the past seven days.
Following suit, Binance Coin (BNB) price dipped 2.2 percent to reach $208.
The market capitalization of BNB has reached $32 billion with this decrease. BNB has shed 2.5 percent of its value during the last seven days.
Ripple (XRP) price decreased by 5 percent in the past 24 hours to reach $0.474. The market capitalization of XRP stands at $25.2 billion with this decrease. XRP has lost 5.3 percent of its value during the last seven days.
Meanwhile, Cardano (ADA) price went down by 2.2 percent to reach $0.244. With this decrease in price, its market capitalization has reached $8.6 billion. ADA has shed 4.3 percent of its value during the last seven days.
Other popular altcoins including Dogecoin (DOGE), Litecoin (LTC), and Solana (SOL) landed in the red across the board. The Stellar (XLM) token went on to become the biggest gainer, with a 24-hour jump of over 3 percent. Memecoin Pepe (PEPE) became the biggest loser, with a 24-hour dip of around 8 percent.
