Bitcoin hit a high of $28,422 per unit around 3 p.m. Eastern time Sunday as the major cryptocurrencies continued to rise over the past week. Since last Sunday, bitcoin has gained 37.9% in value against the U.S. dollar, swelling the cryptocurrency’s overall market capitalization to $54.6 billion.
Global cryptocurrency market valuation increased 1.11% to $1.18 trillion, maintaining bitcoin’s dominance at over 45%
Just before 3 p.m. on March 19, 2023,Bitcoin (BTC)crossed the $28,000 zone, rising to $28,422 per unit by Sunday afternoon. Currently, the value of this major cryptocurrency is hovering within that zone, just above $28,300, after meandering just below at $27,925 per unit. Bitcoin has gained more than 37% against the U.S. dollar in seven days and roughly 3.5% in the past 24 hours.
Global bitcoin trading volume currently stands at $42.9 billion out of $203 billion in trading volume for all existing digital assets. Bitcoin hit a high of $28,422 on Sunday, but also hit a low of $27,009 per unit on the way down. Bitcoin remains $23.94 billion away from surpassing Tesla’s market cap of$569.94 billion, making it the 10th largest asset by market cap.
The global cryptocurrency market was valued at $1.18 trillion on Sunday, up 1.11% over the past day. The last time bitcoin traded above the $28,000 area was in June 2022 after the collapse of the Terra blockchain and UST. Current statistics also show that the second largest cryptocurrency by market capitalization,Ethereum (ETH)surged 1.7% higher than the previous day and 24.3% higher than the previous week.
Of the $1.18 trillion value, Bitcoin’s dominance on Sunday was 45.7% and Ethereum’s was 18.8%. Bitcoin’s top 10 trading pairs on Sunday included Tether (USDT), BUSD, USD, KRW, EUR, JPY, USDC, TRY, GBP, and CHF. In addition to bitcoin breaking through the $28,000 zone, there is a small “kimchi premium” in South Korea, with bitcoin trading$200 more per unitin South Korea than on most international crypto exchanges.
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