ISLAMABAD
The cryptocurrency market turned positive on Thursday after the previous session’s bloodbath, with the market capitalization gaining 2.3 percent to reach $1.47 trillion.
As of 1335 hours GMT, the price of Bitcoin, the world’s oldest and most valued cryptocurrency, surged 2.2 percent in the last 24 hours to reach $37,325.
The market capitalization of the biggest crypto has reached $730 billion with this increase. Bitcoin has been 0.6 percent up in the past seven days.
Similarly, Ether (ETH), the world’s second-largest cryptocurrency by market capitalization, gained 2 percent to reach $2,060. With this increase in price, the market capitalization of ETH has reached $247.7 billion.
ETH has gained 0.5 percent of its value during the last seven days. This surge in Ethereum’s value was attributed to increased market interest following Fidelity’s expressed intent to pursue an Ethereum exchange-traded fund (ETF).
On the other hand, Binance Coin (BNB) price continued going down and slipped 0.3 percent to reach $233. The market capitalization of BNB has reached $35.8 billion with this decrease. BNB has shed 7 percent of its value during the last seven days.
However, the price of Ripple (XRP) increased by 3.3 percent to reach $0.614. The market capitalization of XRP stands at $33 billion with this increase. XRP has gained 3.9 percent of its value during the last seven days.
Following suit, Solana (SOL) price surged 5.2 percent to reach $57.59. With this increase in price, its market capitalization has reached $24.44 billion. SOL has shed 10.2 percent of its value during the last seven days.
Other popular altcoins including the Dogecoin, Cardano and Litecoin landed in the red across the board.
Binance, the largest cryptocurrency exchange in the world, agreed to pay more than $4 billion in settlements with several US law enforcement agencies after years of investigations uncovered widespread criminal use of the platform. In addition to the settlement, Binance CEO Changpeng Zhao pled guilty to several charges in federal court in Seattle on Tuesday. On social media, Zhao said he was stepping down as CEO, and during a press conference US Justice Department officials said his removal was part of their agreement with the company.
Attorney General Merrick Garland and Secretary of the Treasury Janet Yellen told reporters Binance knew and actively sought out business from sanctioned countries, terrorist groups and online marketplaces used by cybercriminals. “Binance turned a blind eye to its legal obligations in the pursuit of profit. Its willful failures allowed money to flow to terrorists, cybercriminals, and child abusers through its platform,” Yellen said.
