Most major assets in the cryptocurrency market have gained value over the past 24 hours, APA-Economics reports.
According to the CoinMarketCap platform, Bitcoin rose by 1.26% over the past 24 hours to reach $77,327.45.
Ethereum increased by 1.74% to $2,474.28, BNB gained 3.73% to reach $751.54, and Monero rose by 3.67% to $518.46. Bitcoin Cash surged by 11.52%, while Bittensor gained 7.75%.
One of the largest increases was recorded in Zcash. The cryptocurrency rose by 7.76% over the past 24 hours to reach $1,488.60. Its gain over the past 30 days reached 194.14%.
Gold-backed cryptocurrencies also gained value. Tether Gold (XAUT) rose by 1.28% to $4,338.01, while PAX Gold (PAXG) increased by 1.19% to $4,335.22.
The CoinMarketCap 20 index rose by 1.90% to 160.65 points.
The cryptocurrency market's upward trend comes amid a recovery from previous losses. However, the Federal Reserve's decision to raise interest rates by 25 basis points to 3.75–4% and its signal of another increase this year continue to put pressure on risk assets.
In addition, the failure of a procedural vote in the US Senate to advance the Clarity Act, which is intended to establish a regulatory framework for cryptocurrencies, has maintained regulatory uncertainty in the sector.
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