Cryptocurrencies recorded significant gains in recent trading, led by Bitcoin, which breached the $24,600 level, in light of diminishing concerns about regulatory restrictions in America.
According to Arabiya.net, the combined market value of encrypted digital currencies jumped by 11.2%, winning about $100 billion, after its total market value rose from the $1 trillion level in Tuesday's trading, to about $1.11 trillion in today's trading.
At the forefront of the winning digital currencies came the Bitcoin currency, and the currency recorded gains during the past hours by 11%, compared to a weekly increase of 8.4%, to be traded today at the level of $ 24,619.
Its combined market value also rose to the level of $475 billion, with this figure accounting for about 42.75% of the combined market value of the currencies being traded at the present time.
Ethereum, which ranked second in the list of the largest cryptocurrencies by market value, recorded gains during the past hours by 8.7%, compared to weekly gains of 3.03%, to be traded today at the level of $1682.
Its combined market value jumped to $205.9 billion. According to these numbers, it has acquired 18.54% of the total market at the present time.
While Tazer and USD, which came in the third and fifth places, settled at the level of $1, the combined market value settled at $69.8 billion and $41.47 billion, with market shares of 6.29% and 3.73%, respectively. .
BNP came in fourth place among the largest cryptocurrencies by market value. The currency recorded gains over the past hours by 7.7%, with weekly losses of 0.8%, to be traded today at $320.
Its combined market value rose to the level of $50.6 billion, accounting for about 4.55% of the total market value of the currencies being traded at the present time.
The US Securities and Exchange Commission (SEC) targeted PAXOS, the company responsible for mining and issuing the stablecoin BUSD, which belongs to the Binance platform - the largest cryptocurrency exchange in the world - as this currency was classified as an unauthorized security.
This comes, while the market is awaiting the next US Federal Reserve meeting, to be held during the period 14-15 March 2023, after an increase in the unemployment rate and expectations that the US Federal Reserve Chairman, Jerome Powell, will adhere to the policy of monetary tightening, amid expectations of a rise in interest on federal funds by more than 50 percent. basis point.
