The cryptocurrency market bounced back on Monday as most of the altcoins registered hefty gains, with market capitalisation rising 5 percent to reach $1.33 trillion. As of 1150 hours GMT, the largest cryptocurrency Bitcoin’s (BTC) price reached $30,682, reflecting an increase of 5 percent. With this increase in price, the market capitalisation of the biggest crypto has reached $584 billion. Bitcoin has gained 1.1 percent of its value over the last seven days. Bitcoin’s price rose over the $30,00 mark even as the world’s most popular cryptocurrency registered a record ninth-weekly loss. This was the first time that Bitcoin went through more than six weeks in a row without a positive return. According to experts, Bitcoin may rise above its initial resistance at $33,000 if buyers extend their support. This growth could keep the buyers active in the market, they added. Ether (ETH), the world’s second-larges cryptocurrency by market capitalisation, gained 6 percent to reach $1,903. With this increase in price, the market capitalisation of ETH has reached $230 billion. ETH has been 7 percent down in the past seven days. Binance Coin (BNB) price jumped by 4.9 percent to $317. With this increase in price, the market capitalisation of BNB has reached $53.3 billion. BNB has shed 0.8 percent of its value during the last seven days. Similarly, the XRP price went up by 3.5 percent to $0.400.
Bitcoin rises to $30,682 as altcoins register hefty gains
Published on: May 31, 2022 12:44 AM