Bitcoin hit the all-time high of 61,683.86 dollars on March 13, with the support of rapidly increasing corporate purchases recently.
Bitcoin decreased by 1.15 percent in the last 24 hours to 60,460.93 dollars, after fluctuating between 58,972.26 and 61,235.93 dollars, while the weekly gain of the currency was calculated at 19.17 percent. Bitcoin's total market volume was at 1.0 trillion 129.34 billion dollars.
With increasing corporate purchases, the total market capitalisation, which exceeded the 1.5 trillion dollar limit for the first time in history on February 15, was at 1.82 trillion dollars in the early hours of Monday.
While the value of 68 units decreased from the highest volume of 100 units in the last 24 hours in the crypto money markets, nine of the top 10 units were among those that fell.
Bitcoin accounted for 61.9 percent and Ethereum for 11.9 percent of the total market volume in 36,379 markets where 8,795 cryptocurrencies were traded, while the 24-hour trading volume in all markets was at 117.5 billion dollars.
A piece of digital art was sold for over 69 million dollars at Christie’s. The event is the first time the famed British auction house managed to sell a nonfungible token (NFT) art, and the Beeple NFT is the most expensive digital art ever sold.
The art piece, titled “Everydays: The First 5,000 Days”, is the work of Beeple, a 41-year-old illustrator from Wisconsin. It is a collage of 5,000 images the artist made over as many days.
Nonfungible tokens issue blockchain-backed “proof of ownership” on items such as art, ensuring that artists can claim ownership of their digital works and collect compensation for them. NFT arts are increasingly becoming popular in the cryptocurrency space and are slowly gaining mainstream adoption.
The eight-figure sale of the Beeple NFT is now the most expensive asset ever since blockchain technology began hosting digital arts and media. This latest development will draw more attention to NFTs, helping them gain more mainstream adoption over the next few months.
Pablo Rodriguez-Fraile, a Miami art collector, told Forbes that the sale of the Beeple NFT is an extraordinary moment. “I believe it serves as clear validation that digital art is as important as what we know as traditional art, with Beeple its clear leader and symbol”, he added.