Bitcoin hit $28,422 as it continued to rise

Bitcoin (BTC) exceeded the $28,000 zone, increasing to $28,422 per unit on Sunday afternoon

Bitcoin hit a high of $28,422 per unit on Sunday at around 7:00 pm GMT as the top crypto currency has continued to rise in the past week. Since last Sunday, bitcoin has risen in value by 37.9 per cent against the U.S. dollar, and the crypto currency’s overall market capitalization has grown to $546 billion.

At just before 7:00 pm GMT on March 19, 2023, bitcoin (BTC) exceeded the $28,000 zone, increasing to $28,422 per unit on Sunday afternoon. Currently, the top crypto currency’s value is hovering within that region, at just more than $28,300 after winding down just below it at $27,925 per unit. Bitcoin has advanced over 37 per cent against the U.S. dollar in seven days, and in more than the past 24 hours, it has risen nearly 3.5 per cent.

Presently, there are $42.9 billion in global bitcoin trades out of the $203 billion in trade volume among all digital assets in existence. While bitcoin hit a high of $28,422 on Sunday, it also saw a low of $27,009 per unit during the course of the day. Bitcoin has $23.94 billion left to exceed Tesla’s market capitalization of $569.94 billion to become the tenth-largest asset by market valuation.

The global crypto currency market valuation was $1.18 trillion on Sunday, a 1.11 per cent increase over the previous day. The last time bitcoin was trading higher than the $28,000 region was in June last year, after the collapse of the Terra blockchain and UST. Present statistics also show that the second-biggest crypto currency in terms of market cap, ethereum (ETH), climbed 1.7 per cent over the previous day and 24.3 per cent over the previous week.

Out of the $1.18 trillion in value, bitcoin’s dominance on Sunday is 45.7 per cent, while ethereum’s is 18.8 per cent. Bitcoin’s top ten trading pairs on Sunday include Tether (USDT), BUSD, USD, KRW, EUR, JPY, USDC, TRY, GBP, and CHF.