Growth was observed in major assets in the cryptocurrency market over the past 24 hours. The total market capitalization increased by 1.41% to $2.69 trillion, “APA-Economics” reports.
The price of Bitcoin, the largest cryptocurrency by market capitalization, rose by 0.88% over the past 24 hours to $80,440, according to CoinMarketCap. Bitcoin’s market capitalization amounted to $1.61 trillion.
The price of Ethereum, the second-largest cryptocurrency by market capitalization, increased by 1.48% to $2,316. Ethereum’s market value stood at $279.6 billion.
The price of BNB, which is among the top five cryptocurrencies, rose by 1.87% to $651.5.
In addition, the price of Monero increased by 4.31%, Bittensor rose by 2.48%, while the CoinMarketCap 20 Index gained 1.74%.
However, among gold-backed tokens, the price of PAX Gold fell by 0.17% to $4,706.6, while Tether Gold declined by 0.24% to $4,700.7.
According to analysts, optimism surrounding US-China trade talks, increased demand for risky assets, and continued interest from institutional investors in Bitcoin and Ethereum supported the rise in the cryptocurrency market.