Cryptocurrencies continue to lead the markets, gaining from expectations of the imminent end of the monetary tightening cycle and the tendency of central banks to reduce interest rates.
As the market continues its gains and records historic levels, expectations indicate that Bitcoin will reach unprecedented levels after exceeding the level of $74,000 in recent transactions.
The rise of the crypto market coincides with the moves of many major central banks to pave the way for lowering interest rates after tightening control over inflation.
In a previous analysis published on “Trading View,” it was likely that Bitcoin would rise to the level of $330,000. The analysis spoke about previous expectations regarding the cryptocurrency, as it was previously expected that the cryptocurrency would reach the level of $69,000 before the halving in 2024. This indicates strong momentum that could push it towards the $330,000 mark.
In terms of trading, since the beginning of this year, the combined market value of the cryptocurrency market has jumped by 64.2 percent, gaining about $1,068 billion, after its total market value rose from the level of $1,670 billion at the beginning of 2024 transactions, to about $2,738 billion in transactions. Last.
$592 billion market gains for Bitcoin
At the forefront of the winning digital currencies was the currency “Bitcoin”, and the currency recorded record gains since the beginning of this year, reaching a percentage of 152.70.6 after it gained about 30 thousand dollars, rising from the level of 42,459 dollars at the beginning of 2024, to about 72,459 dollars at the present time, and its value jumped. The combined market value increased by 71.2 percent, gaining about $592 billion, after its total value rose from the level of $831.6 billion at the beginning of 2024 to the level of $1423.6 billion at the present time, occupying a market share of 51.99 percent of the total market value of cryptocurrencies being traded. Trading on it.
The Ethereum currency, which came in second place on the list of the largest cryptocurrencies in terms of market value, recorded gains of 76.2 percent, gaining about $1,758, after its price jumped from the level of $2,306 at the beginning of 2024 to $4,064 in recent transactions, and its value jumped. The total market value rose by 76 percent, gaining about $210.9 billion, after the combined value rose from the level of $277.2 billion at the beginning of 2024 trading to the level of $488.1 billion in recent trading, so that the currency bearing the runner-up title of “Bitcoin” acquired 17.82 percent of the total market.
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The “Teaser” coin came in third place, after its price stabilized at the level of one dollar, while its market value stabilized at the level of 102 billion dollars, occupying a market share of 3.72 percent.
While the “BNP” currency came in fourth place in the ranking of the largest encrypted digital currencies, it recorded an increase during the last week’s transactions by 24.5 percent, with gains during the past hours by 0.6, so that its price stabilized in today’s transactions at the level of $521.30, and its market value rose. The combined value reached $77.95 billion, occupying a market share of 2.84 percent.
The “Solana” currency, which ranked fifth among the 10 largest digital currencies in terms of market value, recorded gains during the last week amounting to 12.7 percent, with a rise of 4.7 percent during the past hours, so that its price stabilized in today’s transactions, at the level of $147.75, and its value rose. The combined market reached the level of $65.5 billion, occupying a market share of 2.39 percent.
“X Ripple” jumps more than 21 percent
The “X Ripple” currency came in sixth place, and recorded gains during the last week’s transactions of 11.2 percent, with a rise of 21.2 percent during the past hours, so that its price stabilized in today’s transactions, at the level of $0.725, and its combined market value stabilized at the level of $39.7 billion. To occupy a market share of 1.44 percent.
The USDS currency came in seventh place, after its price stabilized at the level of one dollar, and its total market value stabilized at the level of 30.42 billion dollars, with a total market share of 1.11 percent.
The “Cardano” currency came in eighth place, and while the currency recorded gains during the past hours of 11 percent, it recorded an increase of 1.4 percent during the last week’s transactions, to be currently trading at the level of $0.782, and its total market value stabilized at the level of $27.8 billion. To occupy a market share of 1.01 percent of the total combined value of currencies currently being traded.
While Dogecoin, which came in ninth place among the 10 largest digital currencies, recorded gains of 6.4 percent during the past hours, it recorded weekly losses of 1.3 percent during the last week’s transactions, so that it is trading today at the level of $0.177, and its value has stabilized. The combined market value is $25.39 billion, accounting for a market share of 0.92 percent.
As for the “Shape” currency, which ranked tenth among the 10 largest digital currencies in terms of market value, it recorded gains of 3.4 percent during the past hours, with losses of five percent during the last week’s transactions, to be traded at the level of $0.0000332, and its market value stabilized. Combined at a level of $19.57 billion, occupying a market share of 0.71 percent of the total market value of currencies currently being traded.
2024-03-12 10:20:36
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