Cryptocurrency

The cryptocurrency market rose nearly 3% in the last 24 hours despite UK bank Barclays’ decision to stop customers from transferring funds to Binance.

The overall market cap of the approximate 10,800 coins is at $1.46 trillion after a 2.65% increase in 24 hours.

In fact, Binance Coin (BNB) was the big winner among the majors, rising 6% to $319 at the time of writing (7am UK). It is 8% up in a week.

“As you’ve made a payment to Binance this year, we wanted to let you know that we’re stopping payments made by credit/debit card to them until further notice,” the bank informed its customers.

“This is to help you keep your money safe. For further info please search FCA Binance online.”

Watchdog the Financial Conduct Authority has banned Binance from performing any regulated activities in the UK, but users of the popular platform can still buy and sell cryptocurrency, as this is not regulated.

NatWest recently blocked payments to a small number of crypto firms, but Barclays is the first UK bank to stop payments to the world’s largest cryptocurrency exchange.

A spokesperson said: “With effect from today, Barclays intends to stop credit and debit card payments to Binance.

“This action does not impact on the ability for customers to withdraw funds from Binance.

“The decision has been taken following the FCA warning to consumers, to help keep our customers’ money safe.”

Binance said it was “disappointed” by Barclays’ “unilateral action”. It added:  “We would welcome a dialogue with Barclays to discuss any concerns that they have.”

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Cardano (ADA) climbed 3% to $1.45, cementing a 9% price increase over seven days.

Bitcoin (BTC), which broke $35,000 at the weekend before suffering a dip, is back at $34,800 after a 1% increase. Its seven-day price is more or less the same.

Ethereum (ETH) is up 2% to $2,320. It had dropped towards $2k on Friday morning and is 10% up on its price last Tuesday.

Ripple’s XRP coin barely moved to remain at 68 cents, which puts it 4% higher than its position a week ago.

Meme coin Dogecoin (DOGE) is around 24 cents, down less than 1% in 24 hours and down 6% in a week.

Synthetix (SNX) and KuCoin Token (KCS) rose the most among the top 100 coins, each adding 36% value, putting them 68% and 40% higher than a week ago, respectively.

XinFin Network (XDC) was the only coin to suffer a significant drop, around 6%, but is 44% up in a week.

To see how the valuations of the biggest movers and shakers – and main coins – have changed over the last few days, click here.

For valuations of the top 250 coins by market cap (updated every 15 minutes), their market cap plus 24-hour price change and volume traded, see below. 

Cryptocurrency