Ethereum rises but loses more than 12% in a week

Most of the digital currencies rose during trading today, Friday, in light of the recovery in risk appetite and the renewed demand from investors to diversify asset portfolios to include Bitcoin and its sisters.

Concerns persist about a possible economic recession as interest rates are raised in America and other central banks around the world at a rapid pace to curb inflation.

The cryptocurrency market suffered heavy losses, as its market value fell in June below the $900 billion barrier, which constitutes a sharp decline after the value exceeded the $3 trillion level for the first time ever in November 2021.

Ethereum

The price of Ethereum by 19:35 GMT on the “Coin MarketCap” platform increased by 4.1% to $ 1063.7, but the digital currency recorded losses of 12.6% during the past seven days.

"Solana"

The digital currency "Solana" rose by 3.4% to $32.9, but recorded a weekly loss of 19.2%.

Ripple

Ripple fell by 4.3% to $0.3129, which incurred losses in the past seven days by 12.6%.