Crypto market update: Bitcoin returns above $43,000
Total cryptocurrency market capitalisation rises 4.4% to $2.04trn
Having fallen below $40,000 for the first time since August at the start of the week, bitcoin (BTC) traded up by 3.1% to $43,172. The world’s first and largest cryptocurrency’s market capitalisation stood 3% higher at $817.1bn (£597.3bn), while its trading volume sank by 21% to $26.9bn.
Ethereum (ETH) traded 5.7% higher to $3,306, having fallen below $3,000 for the first time since late September on Monday. The market capitalisation of the world’s second-largest cryptocurrency stood 5.6% higher at $393.2bn, while trading volume slipped by 14.4% to $17bn.
Among the other prominent cryptocurrencies, Avalanche (AVAX), Polkadot (DOT) and Fantom (FTM) enjoyed some of the largest gains, rising by 10.5%, 9% and 19%, respectively. Chainlink suffered the largest loss, falling by 2.3%.
The capitalisation of the total cryptocurrency market stood 4.4% higher at $2.04trn, having recently fallen below $1.9trn for the first time since late September, according to CoinMarketCap.
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Across the wider cryptocurrency space, FirstDog (FSD) enjoyed the largest gains, rising by 1,466% to $0.000000001897. The meme-based coin’s market capitalisation stood at $1.8m, with trading volume of $648,693.
AkoyaLegends (AKL) suffered the largest loss, slumping by 99.8% to $0.00003464. The token for the blockchain-based NFT gaming platform reached an all-time high of $0.02064 earlier in the day. Its market capitalisation fell 99% to $17,320, with trading volume of $162,697.
All prices correct as of 13:00 (GMT).