Daily Times

The cryptocurrency market edged lower on Monday after a bullish week, with the market capitalization losing 1.2 percent to reach $1.88 trillion.

As of 1340 hours GMT, the price of Bitcoin, the world’s oldest and most valued cryptocurrency, inched down to $47,895 with a decrease of 0.6 percent in the last 24 hours. The market capitalization of the biggest crypto has reached $940 billion with this decrease. Bitcoin has been 10.9 percent up in the past seven days.

Bitcoin hovered above the $48,000 threshold last week, reaching its highest level in 26 months over the weekend, driven by substantial net inflows into spot Bitcoin ETFs last week. A successful surge beyond $48,970 could propel the price to the $50,000 level, not witnessed since December 2021. On the other hand, Ether (ETH), the world’s second-largest cryptocurrency by market capitalization, went down by 1.4 percent to reach $2,484. With this decrease in price, the market capitalization of ETH has reached $298.4 billion. ETH has gained 6.9 percent of its value during the last seven days. Earlier, Ethereum reached $2,540 last week, marking its highest point since January 19.

Similarly, Binance Coin (BNB) price decreased by 1.3 percent to reach $318. The market capitalization of BNB has reached $48.8 billion with this decrease. BNB has gained 4.9 percent of its value during the last seven days.

On the other hand, Solana price increased by 4.7 percent to reach $104. With this decrease in price, its market capitalization has reached $45.6 billion. SOL has gained 6.7 percent of its value during the last seven days. Similarly, the price of Ripple (XRP) decreased by 2.4 percent to reach $0.518. The market capitalization of XRP stands at $28.2 billion with this decrease. XRP has gained 2.4 percent of its value during the last seven days. Overall, Flare (FLR) token emerged to be the biggest gainer of the lot, with a 24-hour jump of over 10 percent. Memecoin BONK, on the other hand, became the biggest loser, with a 24-hour dip of over 10 percent.