ISLAMABAD, (TLTP): The cryptocurrency market continued with a bullish trend for the second consecutive day on Saturday, with the market capitalisation gaining 3.3 percent to reach $2.18 trillion as of 1315 hours GMT.
The price of bitcoin (BTC) gained 3.76 percent to reach $48,870. With this increase in price, the market capitalisation of the biggest cryptocurrency has jumped to $918.7 billion.
Likewise, ethereum (ETH) price gained 3.31 percent to reach $3,240. With this increase in price, the market capitalisation of ETH has reached $379.7 billion.
Similarly, XRP gained 4.31 percent to reach $1.15. The market capitalisation of XRP stands at $115.4 billion after this increase.
Following the suit, the price of cardano (ADA) reached $2.83 with a 4.83 percent increase. Its market capitalisation has reached $91.6 billion after this increase in its price.
Likewise, dogecoin (Doge) price went up by 5.1 percent to reach $0.289. With this increase in price, the market capitalisation of doge has reached $37.8 billion.
Meanwhile, the first cryptocurrency ATM in Honduras opened this week as bitcoin backers sought to spur demand for virtual assets after neighbouring El Salvador became the first country to establish bitcoin as legal tender.
The machine, locally dubbed “la bitcoinera,” allows users to acquire bitcoin and ethereum using the local lempira currency and was installed in an office tower in the capital of Tegucigalpa by Honduran firm TGU Consulting Group. Juan Mayen, 28, chief executive of TGU, led the effort to bring the ATM to Honduras in hopes of educating people about virtual assets through first-hand experience. Until now, there was no automated way to buy crypto-currencies, he said.
“You had to do it peer-to-peer, look for someone who … was willing to do it, meet in person and carry X amount of cash, which is very inconvenient and dangerous given the environment in Honduras,” he said.
To make a purchase, users have to scan official identification and input personal data such as a phone number. Many software developers in Honduras are already paid in cryptocurrencies, Mayen said, adding that it will also be a cheaper option to send remittances.
Earlier this week, the Cuban government announced to join the crypto revolution and will officially recognise cryptocurrencies for payments on the island, according to a resolution published in the Official Gazette.
