Daily Times

The cryptocurrencies snapped a two-day losing streak on Sunday, with market capitalisation gaining 1 percent to reach $2.38 trillion as of 1215 hours GMT.

The largest cryptocurrency Bitcoin price went up by 1.88 percent to reach $49,223. The price is down by 13 percent over the last seven days. With this increase in price, the market capitalisation of the biggest cryptocurrency has reached 930 billion.

Ether, the world’s second-largest cryptocurrency by market capitalisation, edged up 0.41 percent to reach $4,037. With this increase in price, the market capitalisation of ETH has reached $474.5 billion. Ether’s price is down by around 15 percent over the last seven days.

However, XRP price inched down by 0.69 percent to reach $0.825. The market capitalisation of XRP stands at $82.5 billion after this decrease.

On the other hand, Cardano (ADA) price jumped by 4.73 percent to reach $1.34. Its market capitalisation has reached $44 billion with this increase.

However, Dogecoin (DOGE) price slipped by 0.26 percent to reach $0.167. With this decrease in price, the market capitalisation of DOGE has reached $22.1 billion.

Meanwhile, the Bank of Thailand’s officials have said that using cryptocurrency as a means of payment is not illegal. However, they added that users “must be able to accept the risks,” including price fluctuation.

Sakkapop Panyanukul, senior director at the Bank of Thailand’s Monetary Policy Department, clarified the central bank’s cryptocurrency stance last week. He explained that the bank is currently discussing how to regulate cryptocurrency with the Thai Securities and Exchange Commission (SEC), related agencies, and stakeholders. The bank aims to limit consumer risks associated with using cryptocurrency for payments.