Hassan Maishera
TL;DR
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Bitcoin has maintained its value above the $26k level despite FTX getting approval to sell its crypto assets.
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The total crypto market cap now stands at $1.04 trillion.
Bitcoin Steadies Above $26k
Bitcoin, the world’s leading cryptocurrency by market cap, has added more than 1% to its value over the past 24 hours. At press time, the value of Bitcoin stands at $26,249, up by 1.3% over the last few hours.
The positive performance comes despite bankrupt crypto exchange FTX getting approval to sell some of its crypto assets. The inflation levels in the United States also went up to 3.7% following August’s CPI readings, higher than what market analysts had expected.
However, the FTX news and the rising inflation levels didn’t deter Bitcoin’s movement, as the leading cryptocurrency has been performing well since the start of the week. Over the last few days, Bitcoin has added more than 2% to its value.
SOL, the native coin of the Solana blockchain, is the best performer amongst the top 10 cryptocurrencies by market cap in the last 24 hours. SOL added 5% to its value and is now trading at $18.68.
Toncoin’s TON has led the market charge this week, thanks to the TON project receiving an endorsement from the messaging app Telegram earlier this week.
With the market now in the green zone, the total cryptocurrency market cap rose to $1.04 trillion over the past 24 hours.
