Cryptocurrencies have recorded the biggest rise in two months, after news circulated that Amazon might enter the cryptocurrency market.
The rise of digital currencies is putting the asset and safe haven market in a difficult position.
During the last five sessions, the market value of digital currencies gained 32%. This is about $384.2 billion.
With the recent rise, the value of digital currencies reached $1,204 billion, according to the CoinMarketCap platform.
The top five currencies recorded gains with a total value of about $289.4 billion. With this number, they accounted for about 75.3% of the total gains recorded by the market.
Bitcoin recorded gains during the last five sessions by 26.7% gaining about $8,471. Its price jumped from $31,690 in trading last Friday to about $40,161 in trading on Monday.
Its combined market value also jumped by 35% gaining about $195.7 billion, after its total market value jumped from $594.2 billion to about $755.8 billion.
Ethereum recorded a gain of 34.8%, with a profit of about $622, after its price jumped from $1,788 to $2,410.
Its combined market value increased by 35.4%, gaining about $73.9 billion, after its total market value jumped from the level of $208.6 billion to about $282.5 billion.
“Tether” ranked third among the largest cryptocurrencies by market value. It settled in its recent transactions at the level of $1.
However, its total market value declined by 0.16%, losing about $0.1 billion. Its total market value fell from $61.9 billion to about $61.8 billion.
The Binance Coin, the fourth largest cryptocurrency, recorded a gain of 22.3%, gaining about $59. Its price rose from $264 in trading last Friday to about $323 in trading yesterday.
Binance’s total market value also jumped by 22.2%, winning about $9.9 billion. Its market value rose from $44.5 billion to about $54.4 billion.
“Cardano” recorded 28.3% gains during the past five sessions, gaining about $0.3, after its price increased from $1.06 to about $1.36.
Its total market value also jumped by 29.3%, winning about $9.9 billion. Its combined market value jumped from $33.8 billion to about $43.7 billion.