Bitcoin, Ether, Binance Coin and other major cryptocurrencies were trading higher on Monday. The world’s largest cryptocurrency rose nearly 4.51 percent over the past 24 hours to $34,512 as of June 28 at 0810. Bitcoin remained largely volatile last week amid nationwide crackdowns against cryptocurrency mining in China.
According to Coinmarketcap.com, the global cryptocurrency market capitalization rose by 3.52% to $1.38 trillion on Monday. “The massive sell-off that we saw last week has subsided. As expected after such volatility, consolidation can be seen across the crypto spectrum. Bitcoin, the largest contributor to the global cryptocurrency market cap, started the day up 5% compared to the previous day. Ethereum also showed slight gains at the start of the day. Panic selling has subsided, and this is an extremely positive sign for the markets,” said Edul Patel, Chief Executive Officer and Co-Founder, Mudrex, a global crypto trading platform.
Ether rose by 4.32% to $1991.05 in the last 24 hours. “An interesting fact about the Ethereum network is that fees to access the network are at their lowest level in a year. This is a particularly good sign for users of the network, as it could lead to increased adoption, Which leads to higher token driving prices,” he said.
Take a look at the top cryptocurrencies and their prices as of June 25 (data from coinmarketcap.com when the article was published):
Bitcoin $34,512 4.51 percent change in 24 hours
Ethereum $1992.40 4.56 percent change in 24 hours
Binance Coin $287.13 Changed 0.29 Percent in 24 Hours
Cardano $1.32 1.37 percent change in 24 hours
Dogecoin $0.256 changed by 2.61 percent in 24 hours
XRP $0.638 Changed 2.47 Percent in 24 Hours
Polkadot $14.96 0.74 percent change in 24 hours
Bitcoin Cash $475.44 1.56 percent change in 24 hours
USD Coin $1.00 -0.14 percent changed in last 24 hours change
Litecoin $130.99 Changed 1.21 Percent in 24 Hours
“Panic selling has subsided and this is an extremely positive sign for the markets. Many investors jumped at the opportunity to buy dips, which can be seen from the traded volume. However, investors relatively new to this space should keep in mind that the major cryptocurrencies are likely to be range-bound in the near future,” Patel said.
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