Daily Times

The cryptocurrency market extended gains on Wednesday, with market capitalisation gaining 0.6 percent to reach $1.87 trillion. As of 1350 hours GMT, the largest cryptocurrency Bitcoin’s (BTC) price gained 0.80 percent to reach $38,482. With this increase in price, the market capitalisation of the biggest crypto has reached $728 billion. Bitcoin price increased by 4.4 percent during the last seven days and briefly plunged below $33,000 last week to its lowest level since July. It is still down almost 45 percent from a record high of nearly $69,000 in November. Bitcoin fell as much as 25 percent in the past month, while the crypto market has lost upward of $1 trillion in market capitalisation in the same period. Ether, the world’s second-largest cryptocurrency by market capitalisation, jumped by 0.12 percent to reach $2,786. With this increase in price, the market capitalisation of ETH has reached $328 billion. Ether has gained 13.2 percent of its value over the last seven days while the crypto has almost halved in value since reaching its peak in November.