Crypto market update: Litecoin rises 16%

Total cryptocurrency market capitalisation returns above $2.9trn

The capitalisation of the total cryptocurrency market returned to above the $2.9trn (£2.1trn) threshold by noon on Wednesday in London, having briefly dipped to $2.85trn. 

According to CoinMarketCap, the metric stood at $2.91trn, after adding $600bn in the past month. 

Bitcoin traded down by 0.9% at $66,852, having reached an all-time high of $68,530.34 a day earlier. The world’s first and largest cryptocurrency’s market capitalisation stood 1.1% lower at $1.25trn, while trading volume suffered a 12% drop to $36.1bn. 

Ethereum traded down by 0.7% at $4,741.98, having also reached a record high on Tuesday of $4,837.59. The second-largest cryptocurrency’s market capitalisation stood 0.7% lower at $560.8bn, while trading volume suffered an 8.8% fall to $17.7bn. 

Among the other prominent cryptocurrencies, Litecoin and Bitcoin Cash enjoyed some of the largest gains, rising by 17% and 8%, respectively. 

Biggest gainer

Across the wider digital asset space, Easy Finance Token enjoyed the largest gains, rising by 1,051% to $43.36. The token for an upcoming centralised digital exchange has enjoyed a 2,966% rise in trading volume with its market capitalisation rising to $4m. 

Biggest loser

Shill Token (SHILL) suffered the largest loss, plunging by 94.5% to $0.8629. The utility token of Project SEED, a game studio focused on making mobile a blockchain-based gaming ecosystem, enjoyed a 145% increase in trading volume.

All prices correct as of 11:55 GMT.

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