A decline has been observed in major assets in the cryptocurrency market over the past 24 hours, APA-Economics reports.
The total market capitalization decreased by 0.46% to $2.42 trillion.
The price of the leading cryptocurrency, Bitcoin, fell by 0.74% to $70,962. However, on a weekly basis, Bitcoin’s price increased by 2.64%.
As for other cryptocurrencies in the top ten, Ethereum’s price decreased by 0.92% over the past 24 hours to $2,192, while BNB’s price increased by 0.14% to $595.
During the same period, Bitcoin Cash rose by 0.42% to $425, while Monero increased by 2.25% to $347.
The most notable increase in the market was recorded in Zcash. Thus, the price of this cryptocurrency rose by 0.87% over the past 24 hours and by 43.39% over the past 7 days.
Conversely, the price of Bittensor decreased by 1.15% over the past 24 hours and by 18.49% over the past 7 days.
Gold-backed tokens also drew attention. The price of PAX Gold fell by 0.29% to $4,700, while Tether Gold declined by 0.29% to $4,691.
It should be noted that despite the recent decline in the market, Bitcoin’s price remaining at a high level is mainly explained by increased investor interest in risk assets the partial easing of tensions in the Middle East and the softening of geopolitical risks related to the United States. At the same time, the shift of some investors toward gold and gold-backed cryptocurrencies is also considered one of the key factors supporting prices.
