A sharp increase has been recorded in the cryptocurrency market over the past 24 hours, APA-Economics reports.
According to the CoinMarketCap platform, Bitcoin rose by 4.97% over the past 24 hours to reach $81,045.75.
Ethereum gained 6.15% to reach $2,619.97, BNB rose by 1.84% to $763.59, and Zcash increased by 3.37% to $1,534.36. A stronger increase was recorded in Monero, which surged by 11.38% to $573.35. Bittensor gained 6.78%, while Bitcoin Cash rose by 1.25%.
Positive performance was also observed among gold-backed cryptocurrencies. PAX Gold (PAXG) increased by 0.36% to $4,368.22.
The CoinMarketCap 20 index rose by 5.35% over the past 24 hours to reach 169.04 points. Bitcoin's market capitalization approached $1.63 trillion.
Bitcoin's rise comes amid a continuing recovery following the previous sharp sell-off. At the same time, declining oil prices and falling US Treasury yields have supported renewed interest in risk assets. Nevertheless, the Federal Reserve's 25-basis-point interest rate hike and indications of further increases remain among the key risks for the market.
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