The cryptocurrency market ended a two-day bearish trend on Monday, with market capitalisation jumping 2 percent to reach $2.52 trillion. As of 1230 hours GMT, the largest cryptocurrency Bitcoin’s price went up by 1.92 percent to $50,728. With this increase in price, the market capitalisation of the biggest crypto has reached $959 billion. Ether, the world’s second-largest cryptocurrency by market capitalisation, edged up by 0.49 percent to reach $4,056. With this increase in price, the market capitalisation of ETH has reached $477 billion. Similarly, XRP price gained 0.66 percent to reach $0.921. The market capitalisation of XRP stands at $92.1 billion after this increase. On the other hand, Cardano (ADA) price took a giant leap of 9.65 percent to hit $1.57. Its market capitalisation has reached $51.5 billion with this increase. Similar was the case with Dogecoin (DOGE) whose price went up by 1.44 percent to reach $0.191. With this increase in price, the market capitalisation of DOGE has reached $25.2 billion. Meanwhile, the Central Bank of Bahrain has granted Binance, the world’s largest cryptocurrency exchange by trading volumes, an in-principle agreement to become a crypto-asset service provider in the kingdom. The CBB’s move makes it the first regulator in the Middle East and North Africa region to grant such an approval to a Binance entity. The exchange’s licence application is part of its plans to become a fully-regulated centralised cryptocurrency exchange. “The in-principle approval from CBB still requires Binance to complete the full application process, which is expected to be completed in due course,” Binance said on Monday. Binance, which has its headquarters in the Cayman Islands and Seychelles, has faced increased scrutiny from the regulators in the US, UK, Europe and China, largely due to its opaque operating structure. However, the company has been trying to improve its relationship with regulators and has been on a hunt for another location for its global headquarters. Bahrain has been a fast mover in adopting financial technology. It issued draft rules to regulate cryptocurrencies in December 2018, which were finalised two months later. The country also provided licences to digital assets exchanges CoinMena and Rain Management earlier this year. These come as crypto adoption in the region picks up pace.