ISLAMABAD
The cryptocurrency market on Wednesday continued its downturn after the US CPI annual inflation came in below expectation, with the market capitalization losing 0.6 percent to reach $1.44 trillion.
The US CPI annual inflation came in below expectation, at 3.2 percent. It remains to be seen if that turns things around for crypto coins in the coming days.
As of 1135 hours GMT, the price of Bitcoin, the world’s oldest and most valued cryptocurrency, shed 0.5 percent in the last 24 hours to reach $36,087. The market capitalization of the biggest crypto has reached $705.2 billion with this decrease. Bitcoin has been 2 percent up in the past seven days. BTC dipped below the $36,000 mark early Wednesday, continuing to slump over the past few days.
Similarly, Ether (ETH), the world’s second-largest cryptocurrency by market capitalization, shed 1.6 percent to reach $2,001. With this decrease in price, the market capitalization of ETH has reached $241 billion.
However, Binance Coin (BNB) price surged 0.9 percent to reach $246. The market capitalization of BNB has reached $38 billion with this increase.
BNB has shed 0.2 percent of its value during the last seven days.
On the other hand, the price of Ripple (XRP) went down by 1.8 percent to reach $0.637. The market capitalization of XRP stands at $34.2 billion with this decrease. XRP has lost 8.4 percent of its value during the last seven days.
Meanwhile, Solana (SOL) price surged 15.1 percent to reach $60.52. With this increase in price, its market capitalization has reached $25.29 billion. SOL has gained 40.1 percent of its value during the last seven days.
Other popular altcoins including the Dogecoin, Cardano and Litecoin landed in the reds across the board.
