The cryptocurrency market remained positive for the third consecutive day on Sunday, with market capitalisation gaining 3.3 percent to reach $1.36 trillion.
As of 1205 hours GMT, the largest cryptocurrency Bitcoin’s (BTC) price surged 4.4 percent to $30,263. With this increase in price, the market capitalisation of the biggest crypto has reached $576 billion. Bitcoin has shed 14.9 percent of its value over the last week. Bitcoin hit a 16-month low of around $25,400 on Thursday.
Ether (ETH), the world’s second-largest cryptocurrency by market capitalisation, gained 5.1 percent to reach $2,084. With this increase in price, the market capitalisation of ETH has reached $251 billion. ETH has been 21.1 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 (BNB) price jumped 8 percent to $302. With this increase in price, the market capitalisation of BNB has reached $50.9 billion. BNB has shed 17.4 percent of its value during the last seven days.
Similarly, XRP price jumped 5.1 percent to reach $0.431. The market capitalisation of XRP stands at $20.8 billion with this increase. XRP has shed 26.2 percent of its value during the last seven days.
Similarly, Cardano (ADA) price jumped 10.3 percent to reach $0.561. Its market capitalisation has reached $19 billion with this increase. ADA has shed 26.7 percent of its value in the past seven days.
Same was the case with Solana (SOL) whose price jumped 11.8 percent to $53.74. With this massive increase in price, the market capitalisation of SOL has reached $18 billion. SOL has shed 32.5 percent during the last seven days.
Crypto markets have struggled all year amid the broader market turmoil. Bitcoin, which continues to lead cryptocurrency prices, remains highly correlated with tech stocks. Cryptocurrencies fell with stocks last week after the US Bureau of Labour Statistics reported consumer prices for the month of April jumped 8.3 percent.
