The cryptocurrency market has kept its upward surge on Saturday as the price of the largest cryptocurrency, bitcoin (BTC) gained 2.38 percent to reach $48,505, and the market capitalization of the cryptocurrency increased by 2.4 percent to reach $2.26 trillion as of 1340 hours GMT.
With the recent upward surge in the value of the bitcoin the market value of the currency has reached $912.8.
Similarly, ether (ETH) price went up by 1.36 percent to reach $3,501. With this addition in price, the market capitalization of ETH stands at $410.6 billion.
Cardano (ADA) price rallied 1.57 percent to reach $2.40. Its market capitalization has reached $77.7 billion after this increase.
Similarly, XRP price gained 2.32 percent to reach $1.09. The market capitalization of XRP has touched the $108.6 billion mark after this increase.
Following the suit dogecoin (Doge) price gained 0.87 percent to reach $0.244. With this increase in price, the market capitalization of doge has reached $31.9 billion.
Meanwhile, the country Laos has initiated a series of cryptocurrency mining and trading projects in the country, looking for another source of income to supplement the losses caused by the drop in tourism due to Covid-19 related measures.
Six companies have been authorized to start cryptocurrency trading and mining operations in the country, according to the office of the prime minister. Now, according to reports, the government will start work to regulate these activities. Laos could also be trying to attract some of the miners ousted from China, by being a close substitute that can also offer plenty of cheap, hydroelectric power currently not being used at its full potential.