Bitcoin breaks through $72,000 to hit fresh record
ISLAMABAD: The cryptocurrency market continued with its bullish momentum on Tuesday, with the market capitalization gaining 0.3 percent to reach $2.84 trillion. As of 1125 hours GMT, the price of Bitcoin, the world’s oldest and most valued cryptocurrency, went up to $72,106 with an increase of 0.7 percent in the last 24 hours. The market capitalization of the biggest crypto has reached $1.417 trillion with this increase. Bitcoin has been 7.8 percent up in the past seven days. Earlier, Bitcoin peaked at $72,385 on Monday before paring gains slightly. Bitcoin has also been boosted by moves by US authorities and now regulators in Britain to allow exchange-traded funds for bitcoin, which opens up the cryptocurrency to news classes of investors. TLTP
The latest reflection showed sustained interest and optimism in Bitcoin, which was boosted by the inauguration of new spot bitcoin exchange-traded funds that have facilitated greater investor access to the digital asset. The appeal of potentially lower Federal Reserve rates also contributed to this bullish sentiment.
On the other hand, Ether (ETH), the world’s second-largest cryptocurrency by market capitalization, inched down by 0.2 percent to reach $4,020. With this decrease in price, the market capitalization of ETH has reached $482.7 billion. ETH has gained 8.3 percent of its value during the last seven days.
However, Binance Coin (BNB) price edged up by 0.8 percent to reach $530. The market capitalization of BNB has reached $81.4 billion with this increase. BNB has gained 26 percent of its value during the last seven days.
On the other hand, Solana price increased by 1.3 percent to reach $151. With this increase in price, its market capitalization has reached $67.2 billion. SOL has gained 14.8 percent of its value during the last seven days.
Similarly, the price of Ripple (XRP) jumped by 11.4 percent to reach $0.696. The market capitalization of XRP stands at $38 billion with this increase. XRP has gained 7.9 percent of its value during the last seven days.
