ISLAMABAD: The cryptocurrency market remained mixed amid profit taking on Sunday, with the market cap increasing 1.5 percent to $1.87 trillion as of 1435 hours GMT.
The price of Bitcoin (BTC), the largest cryptocurrency, inched down to $44,378 by shedding 0.02 percent. With this minor decrease in price, the market capitalisation of the BTC has reached $833.3 billion.
Likewise, ethereum (ETH) price turned towards south and shed 2.04 percent to reach $3,068. With this decrease in price, the market capitalisation of ETH has reached $358.9 billion.
On the other hand, XRP shed 0.10 percent to reach $0.796. The market capitalisation of XRP stands at $79.5 billion after this decrease.
Similarly, Cardano (ADA) price reached $1.46 with a 1.64 percent decrease in its price. Its market capitalisation has reached $47 billion after this decrease.
However, Dogecoin (Doge) price appreciated by 10.51 percent to reach $0.253. With this increase in price, the market capitalisation of Doge reached $23 billion.
According to analysts, Bitcoin price has witnessed an exponential growth after weeks of downtrend. This move retested the range high and retraced momentarily. However, the recent upswing is most likely to push through the said resistance level and tag a crucial supply zone resting above it.
Due to the Chinese laws around digital currency mining, the miner exodus had a major impact on the Bitcoin hash rate, miners, and the mining equipment producers. However, after weeks of migration to mining-friendly countries, Bitcoin miners are making a comeback, they said.
Bitcoin price rallied 46 percent from July 20 to August 1 and tagged $42,451 to set up a swing high at $44,000 mark.