Bitcoin market value exceeds $1 trillion

Bitcoin market value exceeds $1 trillion
Bitcoin market value exceeds $1 trillion

LONDON: The price of the cryptocurrency “Bitcoin” rose, Thursday, to exceed its market value, the level of one trillion dollars, supported by the calming of concerns about regulatory measures to prevent the United States Cryptocurrency trading.

At 12:27 GMT, the price of the largest cryptocurrency in the world was trading up, by 3.1 percent on a daily basis, to 53,928 dollars.

The market value of the currency rose by 1.02 trillion dollars, with a total of 18.837 million units traded out of a total of 21 million units offered.

Bitcoin achieved a rise of 24.65 percent during the last week to Thursday, the rise was more than 28 percent earlier in the session, and it tested the $55,000 level and then fell to current levels.

The cryptocurrency Bitcoin rose, on Wednesday, to exceed 55 thousand dollars, and reached its highest level since mid-May.

The gains were quietly buoyed by regulatory concerns, after US Treasury Secretary Janet Yellen and Securities and Exchange Commission Chairman Gary Gensler said Tuesday that they have no plans to impose restrictions on cryptocurrency trading.

Ethereum, the world’s second largest digital currency by market value after Bitcoin, rose 3.29 percent to $3,557, with a total market capitalization of $420 billion.

Binance Coin rose 3.49 percent to $442.42, while Cardano currency rose 2.3 percent to $2.30.

The market value of the total virtual currencies around the world rose to 2.304 trillion dollars, distributed over 12 thousand and 443 virtual currencies, which are traded through 418 platforms, according to data from the CoinMarketCap website.


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