ISLAMABAD
The cryptocurrency market traded sideways on Wednesday amid a stronger dollar, with the market capitalization losing 0.3 percent to reach $1.13 trillion.
As of 1110 hours GMT, Bitcoin, the world’s oldest and most valued cryptocurrency, shed 0.3 percent in the last 24 hours to reach $27,532.
The market capitalization of the biggest crypto has fallen to $537.1 billion with this decrease. Bitcoin has been 4.6 percent up in the past seven days.
After getting rejected at $28,600 on Monday last, BTC continued to see downward pressure in the last 24 hours. Bitcoin has been trading above the $27,500 level.
This price movement could be because of traders taking profits following the recent gains and volatility in traditional financial markets.
Despite Bitcoin’s current price being 59.59 percent below its all-time high, it has exhibited a remarkable year-to-date performance increase of 65.54 percent.
Similarly, Ether (ETH), the world’s second-largest cryptocurrency by market capitalization, dipped 0.7 percent to reach $1,646. With this decrease in price, the market capitalization of ETH has reached $198.2 billion. ETH has been 1.9 percent up in the past seven days.
Likewise, Binance Coin (BNB) price decreased by 1.3 percent to reach $212. The market capitalization of BNB has reached $32.7 billion with this decrease. BNB has lost 0.5 percent of its value during the last seven days.
On the other hand, Ripple (XRP) became the biggest gainer, with a 24-hour gain of 4.9 percent. XRP price has reached $0.534 with this increase. The market capitalization of XRP stands at $28.5 billion with this increase. XRP has gained 6.4 percent of its value during the last seven days.
Meanwhile, Solana (SOL) price went down by 2.7 percent to reach $23.52. With this decrease in price, its market capitalization has reached $9.75 billion. SOL has gained 22.9 percent of its value during the last seven days.
Other popular altcoins including Dogecoin (DOGE), Litecoin (LTC), and Cardano (ADA) landed in the reds across the board. Bitcoin SV (BSV), which was the biggest gainer on Tuesday, went on to become the biggest loser on Wednesday, with a 24-hour dip of around 14 percent.
