Leading cryptocurrencies traded up on Wednesday, continuing the trend of marked volatility seen in the past week. 

The capitalisation of the total cryptocurrency market rose by 2.9% in the past 24 hours, to $1.25trn – $750bn lower than the level at which it stood two months earlier.

Bitcoin traded up by 3% at $30,413. The world’s first and largest cryptocurrency jumped by 5% at the start of the week before sinking by 7% on Tuesday afternoon before surging by 6% in the evening. Since the start of the year, Bitcoin has lost 36% of its value. Its market capitalisation has sunk from $884bn to $580bn in the same period. 

Ethereum also traded 3% higher to $1,806. The second-largest cryptocurrency experienced a similarly bumpy ride at the start of the week, reaching highs of $1,912 and lows of $1,727. Ethereum’s market capitalisation stood at $218.7bn, having started 2022 at $442bn. 

Among the other prominent cryptocurrencies, Cardano and Chainlink enjoyed the largest gains, rising by 10.4% and 13.2%. Tezos suffered the largest loss, falling by 4.2%. 

Biggest crypto gainer

Across the wider crypto asset space, Revolotto enjoyed the largest 24-hour gain, rising by 786% to $0.1026. The cryptocurrency trading on the PancakeSwap exchange saw its market capitalisation rise to $20.3m. 

The cryptocurrency has nonetheless lost 97.5% of its value since the $4.15 all-time high that it reached in November last year.

Biggest crypto loser

Snowcat DAO suffered the largest 24-hour loss, plunging by 99.99% to $0.000141. The meme token with an automated buyback mechanism reached a record high of $2.13 only two months earlier.

All prices correct as of 13:15 BST (UTC +1).

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