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Bitcoin nears $24,000, Ethereum jumps 3.3%

The performance of most cryptocurrencies continued to rise during Monday's trading for the second day in a row, with traders' fears fading a little from the repercussions of the tension between China and the United States, and coinciding with the anticipation of economic data that reduces concerns about an economic recession.

Bitcoin, the largest cryptocurrency by market capitalization, rose 3.33% to $23.73 thousand.

During Monday's trading, the Ethereum currency rose 3.09% to $1.73 thousand, according to data from the CoinMarketCap website, which specializes in monitoring the performance of digital currencies. Binance Coin gained 5.7 percent to $328.91, and Cardano's rose 5.23% to $0.5419.

Dogecoin also rose 2.98% to $0.070478, and BlockCoin rose 5.45% to $8.90. Ripple rose 2.2% and Solana rose 6.75%.

The global cryptocurrency market cap rose to $1.11 trillion from $1.09 trillion, according to CoinMarketCap data. It is noteworthy that in just two days, the largest cryptocurrency by market capitalization rose by more than 12%, pushing the price to its highest point since the collapse of Bitcoin on June 13. The price of the bitcoin currency reached its highest level at $69,000 last November, and the price of the world’s most popular digital currency rose by 9.25%, to reach $23.748, the highest level since mid-June. This comes as investors await new developments and decisions from central banks regarding raising interest rates, which affect trading in high-risk assets.

The positive performance also comes after the US “Wall Street” expectations that the largest cryptocurrency by market value will deteriorate to a very bad degree and then drop to $10,000, losing half its value at the present time, knowing that it has lost about 60% of its value since the beginning of 2022.