Most major assets in the cryptocurrency market have recorded price increases over the past 24 hours, APA-Economics reports.
According to the CoinMarketCap platform, Bitcoin's price has increased by 0.87% over the past 24 hours, reaching $83,510.94. However, the cryptocurrency has declined by 2.96% over the past seven days, while gaining 8.10% over the past 30 days.
Ethereum rose by 1.72% to $2,542.98, BNB increased by 0.75% to $750.70, while Zcash climbed by 4.71% to $1,279.97.
Positive dynamics were also observed in other cryptocurrencies. Monero gained 1.98% to reach $534.44, while Bittensor increased by 5.24% to $294.43.
Gold-backed cryptocurrencies also recorded price increases. PAX Gold (PAXG) rose by 0.30% to $4,197.11, while Tether Gold (XAUT) gained 0.29% to reach $4,195.25.
The CoinMarketCap 20 index increased by 1.02% over the past 24 hours, reaching 171.04 points. The total cryptocurrency market capitalization rose by 1.22% to $2.83 trillion.
Analysts say the market's upward movement may be attributed to a partial recovery in prices following declines observed in previous days, as well as increased buying activity by investors at lower price levels. However, the fact that some major cryptocurrencies continue to show negative weekly performance indicates that selling pressure in the market has not yet fully subsided.
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