Daily Times

The cryptocurrency market inched down on Monday, with the market capitalization losing 0.8 percent to reach $1.7 trillion.

As of 1305 hours GMT, the price of Bitcoin, the world’s oldest and most valued cryptocurrency, slipped to $42,100 with a decrease of 0.7 percent in the last 24 hours. The market capitalization of the biggest crypto has reached $825.7 billion with this decrease. Bitcoin has been 3.1 percent up in the past seven days.

Bitcoin surged above $42,000 last week in tandem with the performance of equities. BlackRock’s Bitcoin ETFs crossed the $2 billion AUM mark. A breakthrough above the $42,800 resistance level could propel Bitcoin to $43,500, with $44,700 signalling a return of buyers. If Bitcoin fails to breach the resistance, it has support at $41,750. Investors are eagerly anticipating insights from the upcoming Federal reserve’s Federal Open Market Committee (FOMC) meeting on the 30th and 31st of this month.

On the other hand, Ether (ETH), the world’s second-largest cryptocurrency by market capitalization, went down by 0.9 percent to reach $2,256. With this decrease in price, the market capitalization of ETH has reached $271.2 billion. ETH has shed 5.5 percent of its value during the last seven days.

Following suit, Binance Coin (BNB) price decreased by 0.1 percent to reach $307. The market capitalization of BNB has reached $47.3 billion with this decrease. BNB has shed 1.9 percent of its value during the last seven days.

On the other hand, Solana price decreased by 1.1 percent to reach $97. With this decrease in price, its market capitalization has reached $42 billion. SOL has gained 9.6 percent of its value during the last seven days.

Similarly, the price of Ripple (XRP) decreased by 0.9 percent to reach $0.525. The market capitalization of XRP stands at $28.5 billion with this decrease. XRP has shed 1.1 percent of its value during the last seven days.

Conflux (CFX) emerged to be the biggest gainer of the lot, with a 24-hour jump of over 10 percent. Chiliz (CHZ), on the other hand, became the biggest loser, with a 24-hour dip of over 5 percent.