Crypto market update: Bitcoin rebounds over $58,000

Total cryptocurrency market capitalisation up 3.5% at $2.66trn

Bitcoin traded up by 4.1% on Thursday, having managed to sustain itself above $58,000 after three days below the benchmark. 

The world’s first and largest cryptocurrency also enjoyed a 4% increase in market capitalisation to $1.1trn (£826bn), while trading volume was up 3.9% at $35bn. 

Ethereum traded up at 5% at $4,455, its highest level in four days. The world’s second-largest cryptocurrency’s market capitalisation stood 5.4% higher at $527.89bn, while trading volume fell 1.8% to $19.8bn. 

The capitalisation of the total cryptocurrency stood at $2.66trn, according to CoinMarketCap, up 3.5% on the day and by $50bn in the past week. 

Among the other prominent cryptocurrencies, Binance Coin and Bitcoin Cash enjoyed some of the largest gains, rising by 8% and 7%, respectively. Crypto.com and Elrond suffered some of the largest losses, falling by 17% and 7%, respectively. 

Biggest gainer

Across the wider digital asset space, Bread witnessed the largest 24-hour price rise, jumping by 719% to $1.36. 

The cryptocurrency for the project that aims to facilitate blockchain-enabled financial services for the mobile generation and large enterprises saw its market capitalisation rise by 749% to $123.3m. Its trading volume stood 65,827% higher at $659m.

Biggest loser

Inferno Pay (IFO) suffered the largest loss, sinking by 97.5% to $0.00003138. The payment gateway and token facilitating payments to the adult industry saw its fully diluted market capitalisation fall by the same percentage to $154,955. 

All prices were correct as of 14:00 (GMT).

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