Daily Times

The cryptocurrency market came slightly down on the start of the new year on Monday, with the market capitalization losing 0.4 percent to reach $1.74 trillion.

As of 1045 hours GMT, the price of Bitcoin, the world’s oldest and most valued cryptocurrency, inched up by 0.1 percent in the last 24 hours to reach $42,687. The market capitalization of the biggest crypto has reached $836.1 billion with this increase. Bitcoin has been 1.1 percent down in the past seven days. BTC dipped below the $43,000 mark early Friday. Bitcoin made an attempt to exceed $43,000 on Thursday but faced resistance near the $44,000 level. Profit booking before the new year resulted in a decline below $43,000. The current consolidation level is $42,500, with immediate resistance at $43,000. A successful close above this level could propel the price higher, while support rests at $42,150.

Similarly, Ether (ETH), the world’s second-largest cryptocurrency by market capitalization, shed 0.5 percent to reach $2,301. With this decrease in price, the market capitalization of ETH has reached $276.4 billion. ETH has gained 1.2 percent of its value during the last seven days. Ether price made around 88 percent increase last year. On the other hand, Binance Coin (BNB) price dipped by 2.5 percent to reach $311. The market capitalization of BNB has reached $47.9 billion with this decrease. BNB has gained 17.9 percent of its value during the last seven days.

On the other hand, Solana price increased by 0.1 percent to reach $104. With this increase in price, its market capitalization has reached $44.8 billion. SOL has shed 6 percent of its value during the last seven days. On the other hand, the price of Ripple (XRP) decreased by 1.1 percent to reach $0.618. The market capitalization of XRP stands at $33.4 billion with this decrease. XRP has shed 3.2 percent of its value during the last seven days.

If we take a look at the top three performers of the year 2023, Solana (SOL) was trading at $9.96 on January 1, 2023. In just 12 months, the cryptocurrency’s value has surged by nearly 1000%. Recently, SOL reached a yearly high of $123.68. However, the asset faced a correction in the daily charts, and its price is now hovering near the $105 mark. Avalanche’s (AVAX) struggled for most of 2023. However, the cryptocurrency has made significant gains since November, rallying over 100% in the last month. Since January, AVAX’s price has surged by over 285%, making it one of the best-performing cryptocurrencies. Chainlink (LINK) is another prominent cryptocurrency that has made significant gains in 2023. Since January, LINK’s price has rallied by over 209%, making it one of the best-performing crypto assets of 2023.