Crypto market update: Bitcoin rises to new five-month high

Total cryptocurrency market capitalisation holds above $2.3trn

The capitalisation of the total cryptocurrency market returned above the $2.3trn (£1.7trn) benchmark by noon on Monday, having slumped to $2.1trn over the weekend, according to CoinMarketCap. 

Bitcoin traded up by 1.2% at $56,248, having risen to a new five-month high of $56,785 earlier in the day. The world’s first and largest cryptocurrency’s market capitalisation stood 2.2% higher at $1.06bn, while trading volume traded up by 13.8% to $41.1bn. 

Ethereum traded 0.4% higher at $3,549, up 13.8% since the start of the month. The second-largest cryptocurrency’s market capitalisation stood flat at $419.6bn, while trading volume witnessed a 23.3% jump to $18.3bn. 

Among other prominent cryptocurrencies, Shiba Inu enjoyed the largest gains, rising by 13.5% to $0.00002921. The dogecoin-inspired cryptocurrency last week rose to a five-month high of $0.00003488. 

With a 45.9% share, Bitcoin’s progress could be said to be holding the line, as smaller coins in the market stumbled. The likes of Solana, Filecoin and XRP, for example, traded down by 3.3%, 4.7% and 3%, respectively. 

Largest winner

Across the wider digital asset space, GreenMoon (GRM) enjoyed the largest gains, rising by 4,653% to $0.00001745. The five-day old token has risen by 174,439% since its inception. 

Largest loser

Galabet Casino (GALABET) suffered the largest losses, slumping 98% in 24 hours to $0.0001467. 

The Blockchain Casino token on the Binance Smart Chain began trading on Sunday, reaching a high of $0.009198. 

All prices correct as of 12:30 BST (UTC -1).

Further reading: Bank of England officials step up hawkish rhetoric

The material provided on this website is for information purposes only and should not be regarded as investment research or investment advice. Any opinion that may be provided on this page is a subjective point of view of the author and does not constitute a recommendation by Currency Com Bel LLC or its partners. We do not make any endorsements or warranty on the accuracy or completeness of the information that is provided on this page. By relying on the information on this page, you acknowledge that you are acting knowingly and independently and that you accept all the risks involved.
iPhone Image
Trade the world’s top tokenised stocks, indices, commodities and currencies with crypto or fiat
iMac Image
Trade the world’s top tokenised stocks, indices, commodities and currencies with crypto or fiat
iMac Image