Cryptocurrencies are recording strong gains since the beginning of the week yesterday, Monday, as the most expensive digital currency in the world (Bitcoin) rose for the seventh consecutive session this morning, Tuesday, March 29 (March), to trade at its highest level in 2022, recording a new high in trading at levels of 47,572 thousand dollars.
It rose by about 1.43%, after an increase of about 4% yesterday, Monday, coinciding with the rise in the market value to levels and approaching the levels of one trillion dollars again.
The cryptocurrency markets are benefiting from the high risk appetite in the markets resulting from the optimism of the Ukrainian-Russian ceasefire talks, as some sources mentioned that Russia may be willing to accept less conditions in the cease-fire talks such as allowing Ukraine to join the European Union if it remains militarily non-aligned.
The high confidence in the cryptocurrency markets, interest from major financial services companies, news of potential regulation and an increase in institutional investments have supported the cryptocurrency markets since the end of last week, especially after there were some reports that Russia is considering accepting Bitcoin as a payment method for Russian oil and gas.
In a related development, a report issued by Coinshares for Crypto Asset Management revealed that inflows of cryptocurrency products and funds rose to 193 million dollars in the last week ending on the 25th of March, the highest level since December of last year, two weeks after the exit. Bitcoin ranked first with a value of $97.8 million, followed by Solana with about 87 million and Ethereum with about $10 million.
The market value of the cryptocurrency market combined, according to the Coingecko website, which includes more than 13,000 digital currencies, has risen since the beginning of the session by about 1.8%, trading at levels of $2.24 trillion.
Ethereum is the second largest digital currency, rising by about 2.86% and trading at levels of 3,411 thousand dollars, with a market value estimated at 409 billion dollars.
The Dogecoin currency records declines of about 1.5%, trading at levels of 0.1463 dollars, with a stability in the market value at 19 billion dollars, while the cardano rises by about 2.86% and is trading at levels of 1.22 dollars, with a market value estimated at about 41 billion dollars.
The Shiba Inu currency, in turn, rises by about 5.68%, trading at levels of 0.00002779 dollars, with an increase in the market value to 15 billion dollars, while the Solana currency is trading at an increase of about 0.92%, trading at levels of 110 dollars, and a market value estimated at 35 billion dollars.
The XRP or Ripple currency rises by about 1.44% today, Tuesday, and is trading at 0.8796 levels, with a market value increase to 42 billion, while Litecoin loses about 1.12% by trading at levels of 130 dollars, with a decline in the market value to 9 billion dollars.
05/11/2024
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