The cryptocurrency market sat calm with minor gains on Tuesday, a day after witnessing accelerated selloff after weak Chinese economic data dented appetite for riskier assets, with market capitalisation gaining 1.4 percent to reach $1.37 trillion.
The largest cryptocurrency Bitcoin’s price surged 1.2pc to $30,451. With this increase in price, the market capitalisation of the biggest crypto has reached $580b. Bitcoin has shed 0.5pc of its value over the last seven days. Following Monday’s drop to $29,000, Bitcoin reacted well and reclaimed the coveted $30,000 line. Last week’s rollercoaster, which led to BTC creating history with its seven consecutive weekly candles closed in the red, resulted in massive disruptions for the asset as it fell to an 18-month low of $25,425 on Thursday. —TLTP