By Staff Reporter
ISLAMABAD: The cryptocurrency market edged lower for the second straight session on Thursday, with the market capitalization losing 0.5 percent to reach $2.69 trillion.
As of 1355 hours GMT, the price of Bitcoin, the world’s oldest and most valued cryptocurrency, dipped to $68,032 with a decrease of 2.4 percent in the last 24 hours. The market capitalization of the biggest crypto has reached $1.34 trillion with this decrease. Bitcoin has been 2.4 percent up in the past seven days.
However, Ether (ETH), the world’s second-largest cryptocurrency by market capitalization, gained 2.2 percent to reach $3,763. With this increase in price, the market capitalization of ETH has reached $452.4 billion. ETH has gained 25.9 percent of its value during the last seven days.
On the other hand, Binance Coin (BNB) price went down by 3.9 percent to reach $592. The market capitalization of BNB has reached $91 billion with this decrease. BNB has gained 2.6 percent of its value during the last seven days.
Meanwhile, Solana price went down by 5 percent to $170. With this decrease in price, its market capitalization has reached $76.6 billion. SOL has gained 5.4 percent of its value during the last seven days.
On the other hand, the price of Ripple (XRP) went down by 0.2 percent to reach $0.528. The market capitalization of XRP stands at $29.4 billion with this decrease. XRP has gained 2.4 percent of its value during the last seven days.Meanwhile, the US lawmakers have united to approve a significant piece of legislation concerning cryptocurrencies. The bill, known as the Financial Innovation and Technology for the 21st Century Act (FIT21), received a favourable vote from 279 members of the US House of Representatives on Wednesday. This legislative milestone underscores the growing recognition of the need for regulatory oversight in the rapidly evolving realm of digital assets. With this move, the United States joins a cohort of nations that are actively addressing the challenges posed by the burgeoning crypto sector. The FIT21 bill aims to provide clarity on regulatory jurisdiction within the crypto space, striking a balance between ensuring security and fostering innovation.
