Bitcoin Surges by More Than 37% Against US Dollar This Week, Taps $28K on Sunday – Market Updates Bitcoin News


Bitcoin reached a excessive of $28,422 per unit on Sunday at round 3 p.m. Japanese Time because the main cryptocurrency has continued to rise over the past week. Since final Sunday, bitcoin has elevated in worth by 37.9% in opposition to the U.S. greenback, and the cryptocurrency’s total market capitalization has swelled to $546 billion.

World Cryptocurrency Market Valuation Will increase by 1.11% to $1.18 Trillion; Bitcoin Dominance Stays Above 45%

At simply earlier than 3 p.m. ET on March 19, 2023, bitcoin (BTC) surpassed the $28,000 zone, rising to $28,422 per unit on Sunday afternoon. Presently, the main cryptocurrency’s worth is hovering inside that area, at simply above $28,300 after meandering slightly below it at $27,925 per unit. Bitcoin has gained greater than 37% in opposition to the U.S. greenback in seven days, and over the past 24 hours, it has elevated roughly 3.5% greater.

Presently, there are $42.9 billion in international bitcoin trades out of the $203 billion in commerce quantity amongst all digital property in existence. Whereas bitcoin reached a excessive of $28,422 on Sunday, it additionally noticed a low of $27,009 per unit through the course of the day. Bitcoin has $23.94 billion left to surpass Tesla’s market capitalization of $569.94 billion to change into the tenth-largest asset by market valuation.

The worldwide cryptocurrency market valuation was $1.18 trillion on Sunday, a 1.11% improve over the previous day. The final time bitcoin was buying and selling above the $28,000 area was in June 2022, following the collapse of the Terra blockchain and UST. Present statistics additionally present that the second-largest cryptocurrency by market cap, ethereum (ETH), jumped 1.7% greater over the previous day and 24.3% over the previous week.

Out of the $1.18 trillion in worth, bitcoin’s dominance on Sunday is 45.7%, whereas ethereum’s is eighteen.8%. Bitcoin’s prime ten buying and selling pairs on Sunday embody Tether (USDT), BUSD, USD, KRW, EUR, JPY, USDC, TRY, GBP, and CHF. Along with bitcoin surpassing the $28,000 zone, there’s additionally a small ‘Kimchi premium’ in South Korea, with bitcoin buying and selling for $200 more per unit within the nation than most crypto exchanges overseas.

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What are your ideas on bitcoin’s current value surge and its potential affect on the general cryptocurrency market? Share your opinions within the feedback part under.

Jamie Redman

Jamie Redman is the Information Lead at Information and a monetary tech journalist residing in Florida. Redman has been an lively member of the cryptocurrency neighborhood since 2011. He has a ardour for Bitcoin, open-source code, and decentralized functions. Since September 2015, Redman has written greater than 6,000 articles for Information concerning the disruptive protocols rising at this time.

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