ISLAMABAD: The cryptocurrency market corrected itself on Monday, with the market capitalization losing 0.9 percent to reach $1.46 trillion. As of 1220 hours GMT, the price of Bitcoin, the world’s oldest and most valued cryptocurrency, shed 0.9 percent in the last 24 hours to reach $36,764. The market capitalization of the biggest crypto has reached $718.4 billion with this decrease. Bitcoin has been 4.4 percent up in the past seven days. Similarly, Ether (ETH), the world’s second-largest cryptocurrency by market capitalization, shed 0.1 percent to reach $2,046. With this decrease in price, the market capitalization of ETH has reached $246 billion. ETH has been up after news about BlackRock’s plan to file for an ETH-based ETF became public. ETH managed to climb above the $2,100 mark a couple of days back for the first time since April this year. Following suit, Binance Coin (BNB) price dipped 1.9 percent to reach $245. The market capitalization of BNB has reached $37.6 billion with this decrease. 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 2.5 percent to reach $0.650. TLTP
The market capitalization of XRP stands at $34.9 billion with this decrease. XRP has lost 7 percent of its value during the last seven days.
Meanwhile, Solana (SOL) price dipped 4.9 percent to reach $56.87. With this decrease in price, its market capitalization has reached $24 billion. SOL has gained 40.9 percent of its value during the last seven days.
Meanwhile, Dan Gambardello, a top analyst and founder of the popular cryptocurrency YouTube channel Crypto Capital Venture, shared an optimistic view on the crypto market in a recent video, emphasizing his beliefs that the upcoming cycle will see extraordinary growth, unlike anything before. Gambardello pointed to major price increases in cryptocurrencies like Cardano, Solana, and XRP as signs of a strong market.
He highlighted Solana’s impressive 200% gain in less than a month, emphasizing the positive impact such movements can have on the entire crypto market. Additionally, he also suggested that the performance of one altcoin could indicate positive trends for others.
The youtuber also described the current total crypto cap as just the beginning, with the overall crypto market value under $1.5 trillion. Gambardello firmly believes that the market is still in its early stages, with more growth expected. TLTP
