ISLAMABAD: Cryptocurrencies remained mixed on Monday amid hopes for settlement of the US debt ceiling issue, with the market cap edging up 0.3 percent to $1.17 trillion. As of 1345 hours GMT, Bitcoin (BTC) price inched up 0.1 percent in the last 24 hours to $26,927. The market capitalisation of the biggest crypto reached $522 billion with this increase. Bitcoin has lost 1.5 percent of its value over the last seven days. Every year, people across the globe celebrate Bitcoin Pizza Day on May 22. This day is important among crypto enthusiasts as Bitcoin, the world’s oldest and most valued crypto, was used for the first time to purchase a real-world product. Cryptocurrency fans call it ‘Bitcoin Pizza Day’ as Floridian programmer Laszlo Hanyecz had paid 10,000 Bitcoins to have two Papa John’s pizzas delivered to him on May 22, 2010. Back on May 22, 2010, the two pizzas were worth 10,000 Bitcoins, or roughly at around $41. TLTP
Notably, the value of the two pizzas increased to a whopping $2.4 million in 2015, and eventually, the price of each Bitcoin reached around $63,000 per token in 2021. If we consider that, those two Papa John’s pizzas are today worth around $630 million.
Ether (ETH), the world’s second-largest cryptocurrency by market capitalisation, shed 0.2 percent to reach $1,823. With this decrease in price, the market capitalisation of ETH has reached $219.4 billion. ETH has been 0.2 percent down in the past seven days.
Similarly, Binance Coin (BNB) price slipped 0.2 percent to reach $309. With this decrease in price, the market capitalisation of BNB has reached $48.9 billion. BNB has lost 1.9 percent of its value during the last seven days.
On the other hand, Ripple (XRP) price decreased by 0.6 percent to $0.463. The market capitalisation of XRP stands at $24.1 billion with this decrease. XRP has gained 8.8 percent of its value during the last seven days.
However, Cardano (ADA) price increased by 1.8 percent to reach $0.369. Its market capitalisation has reached $12.96 billion with this increase. ADA has lost 0.1 percent of its value in the past seven days.
Pakistan experienced a surge in cryptocurrency adoption in recent years and was ranked third in the Global Crypto Adoption Index for 2020-21, according to Chainalysis, a blockchain data platform. However, the country slipped to sixth place in 2022.
