An increase has been observed in the global cryptocurrency market over the past 24 hours, APA-Economics reports, citing the CoinMarketCap platform.
Over the last 24 hours the price of Bitcoin rose by 1% to $88.6 thousand, while Ethereum increased by 2.6% to $2.94 thousand. Daily gains were also recorded for BNB, XRP, and Solana.
Stablecoins Tether (USDT) and USDC traded near the dollar parity level.
However, on a weekly basis, the market continues to decline. Over the past 7 days, Ethereum has lost 7.6% of its value, Solana has dropped by 6.8%, and Bitcoin has fallen by around 4%.
Analysts believe the daily rise is mainly driven by a short-term technical rebound and selective buying by investors after previous losses. At the same time, uncertainty surrounding interest rates in global financial markets has kept weekly pressure on the crypto market.
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