The major cryptocurrencies traded largely unchanged on Sunday evening – the global market capitalization of cryptocurrencies was in the green by 0.85% at $ 1.3 trillion.
What happened: Bitcoin (CRYPTO: BTC) was trading 0.52% higher at $ 31,795.73 on a 24-hour basis. The top cryptocurrency is down 7.02% for the week
See also: How To Buy Bitcoin (BTC)
ether (CRYPTO: ETH) traded 0.48% lower at $ 1,901.62 in the last 24 hours and traded 10.97% lower over a seven-day lag period.
Meme based Dogecoin (CRYPTO: DOGE) traded 1.27% lower at $ 0.18 in 24 hours and declined 14.72% over seven days.
See Also: This NFT cryptocurrency overtook Dogecoin in YTD profit with Meme Coin Crash
DOGE traded 2.38% and 1.4% lower, respectively, versus BTC and ETH over a 24 hour period.
The top gainer over 24 hours was SwissBorg (CRYPTO: CHSB), which is up 4.58% to $ 0.54 at press time. For the week, CHSB was down 13.17%.
The token, which serves a project that aims to add the power of blockchain and smart contracts to Swiss private banking, traded 4.09% and 5.14% higher against BTC and ETH within 24 hours.
Other notable winners on Sunday evening included Theta fuel (CRYPTO: TFUEL), amp (CRYPTO: AMP) and telecommunications (CRYPTO: TEL).
Over 24 hours, TFUEL was trading 4.47% in the green at $ 0.29, AMP rose 4.34% to $ 0.045, and TEL rose 4.08% to $ 0.013.
Why it matters: Bitcoin continues to hold its head above the $ 30,000 mark, with the latest shot in the arm coming for the cryptocurrency Bank of America Corp. (NYSE: BAC), which approved futures trading in the cryptocurrency for some customers, according to a CoinDesk report on Friday.
Notably, Bank of America labeled the Apex coin “impractical” in March and then earned the wrath of the cryptocurrency community.
At the time, the bank said there was “no good reason to own Bitcoin unless you see prices go up”.
On Friday, Oanda’s chief market analyst Edward Moya noted Bank of America’s exposure to Bitcoin and said, “If a bank on Wall Street sees opportunities in doing something risky, the rest will easily justify following this example . “
Some analysts believe that BTC is preparing for a price breakout in either direction.
According to Mati Greenspan, founder of Quantum Economics, a cryptocurrency analytics company, the breakout could be in the lower range.
“Bitcoin’s chart looks really ugly at the moment,” the analyst wrote, according to CoinDesk. Greenspan pointed to the surge that has “materialized” over the past few days, suggesting that the cryptocurrency is headed for the $ 20,000 mark, an earlier all-time high.
“This is known in the art as surrender,” wrote Greenspan.
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