Cryptocurrencies record collective weekly gains, led by Bitcoin, at the closing session of the week, today, Friday, October 8, as Bitcoin leads the gains of digital currencies, with increases of more than 22% in the last seven trading sessions, and a rise of about 56% today, Friday, with its recovery of one trillion dollars, market value for the third time, coinciding with the rise The market value of digital currencies combined, according to the Coingecko website, which includes more than 9,593 thousand, of which Bitcoin represents about 41% of digital currency to $2.4 trillion, up 1.2% today only.
The United States of America is considered the most important reason for the rise of digital currencies this week after the Chairman of the US Securities and Exchange Commission Gary Gensler confirmed that the authority does not have a mandate to ban digital currencies and that this matter falls to Congress to constitute positive support for cryptocurrencies, especially as it comes in the same line as me.
The US Federal Reserve denied any intention to ban cryptocurrencies in Jerome Powell’s testimony last week. While the markets expect the Securities and Exchange Commission to approve the first Bitcoin ETF in the next two weeks (October 18), according to some analysts, the CEO of the billionaire investment fund George Soros Fitzpatrick confirmed that the investment fund has already started trading and investing in currencies.
Encrypted to constitute a new addition in the institutional acceptance of encrypted currencies and raise market sentiment.
Ethereum is the second largest digital currency in the world in terms of market value, rising by about 0.07% at the beginning of the session today, Friday, and it is trading at levels of $3,600 thousand, with an increase in its market value to $ 422 billion, and increases by about 16.11% in the last seven trading sessions.
Cardano, the fourth largest digital currency, is trading at levels of $2.29, an increase of about 0.96%, and an increase in the market value to $73 billion, while the Dogecoin is declining by about 1.02% and trading at levels of 0.2462, with an increase in the last seven trading sessions by 19.49% and an increase in the market value to 32 billion dollar .
Ripple XRP records weekly gains, in turn, by about 10.42%, despite the morning decline on Friday by about 1.23%, and trading at levels of $1.08, with a market value estimated at $50 billion. At levels of 159.37, with weekly gains of about 47 billion dollars.
The SHIBA INU cryptocurrency gained upward momentum this week and rose in the ranking table to number 22 in terms of market value, with weekly gains that exceeded 200%, an increase in market value to $8.5 billion, despite its decline today, Friday, by about 26%, and trading at $0.0002221 levels.
06/11/2024
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