The cryptocurrency market sat calm with minor gains on Tuesday, a day after witnessing accelerated selloff after weak Chinese economic data dented appetite for riskier assets, with market capitalisation gaining 1.4 percent to reach $1.37 trillion.
The largest cryptocurrency Bitcoin’s (BTC) price surged 1.2 percent to $30,451. With this increase in price, the market capitalisation of the biggest crypto has reached $580 billion. Bitcoin has shed 0.5 percent of its value over the last seven days.
Following Monday’s drop to $29,000, Bitcoin reacted well and reclaimed the coveted $30,000 line. Last week’s rollercoaster, which led to BTC creating history with its seven consecutive weekly candles closed in the red, resulted in massive disruptions for the asset as it fell to an 18-month low of $25,425 on Thursday. However, the bulls stepped up at this point and didn’t allow any further price dives.
Ether (ETH), the world’s second-largest cryptocurrency by market capitalisation, gained 2.2 percent to reach $2,088. With this increase in price, the market capitalisation of ETH has reached $252 billion. ETH has been 7.2 percent down in the past seven days. It was the first time on Thursday last that the token fell beneath the $2,000 mark since July 2021. Ether dropped to as low as $1,700 on Thursday.
Binance Coin (BB) price increased 2.5 percent to $307. With this increase in price, the market capitalisation of BB has reached $51.6 billion. BB has shed 2 percent of its value during the last seven days.
Similarly, XRP price gained 2.1 percent to reach $0.430. The market capitalisation of XRP stands at $20.8 billion with this increase. XRP has shed 12.9 percent of its value during the last seven days.
Likewise, Cardano (ADA) price gained 2.7 percent to reach $0.585. Its market capitalisation has reached $19.8 billion with this increase. ADA has shed 5 percent of its value in the past seven days. Same was the case with Solana (SOL) whose price jumped 2.8 percent to $55.97. With this increase in price, the market capitalisation of SOL has reached $18.9 billion. SOL has shed 12 percent during the last seven days.
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