Search Site

Trends banner

SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Saudia to acquire 20 wide-body aircraft

10 of these being acquired for its flydaeal low-cost airline

ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

Emirates Islamic Q1 profit $394m

The bank's profit crossed AED 1bn mark for the first time.

Bitcoin surpasses $57,000 as crypto rally remains strong

The price of Bitcoin on Tuesday surged past $57,000, demonstrating the continued strength of the cryptocurrency market rally. AFP
  • The rise follows Bitcoin's climb above $54,000 on Monday, a milestone not reached since December 3, 2021
  • The cryptocurrency has been experiencing a bullish trend since January 11, when the US Securities and Exchange Commission approved spot Bitcoin ETFs

Dubai, UAE – The price of Bitcoin on Tuesday surged past $57,000, demonstrating the continued strength of the cryptocurrency market rally.

The rise follows Bitcoin’s climb above $54,000 on Monday, a milestone not reached since December 3, 2021. The cryptocurrency has been experiencing a bullish trend since January 11, when the US Securities and Exchange Commission approved spot Bitcoin ETFs, enabling investors, particularly financial institutions, to trade Bitcoin without direct ownership.

Bitcoin is anticipated to undergo its halving in the second half of April, contributing to a positive sentiment among traders.

Meanwhile, Ethereum, the leading altcoin by market cap, witnessed a 6.2% increase, reaching $3,260 on Tuesday and boasting a substantial 9.2% gain over the past week. Ethereum’s surge is attributed to the potential approval of a spot Ethereum ETF and the upcoming Dencun upgrade scheduled for March 13.

The broader cryptocurrency market reflected the positive trend, with some altcoins experiencing price hikes of up to 25%. The overall value of the cryptocurrency market rose by almost 7.7%, reaching $2.14 trillion. Bitcoin’s dominance in the crypto market was reported at 52.1%, while Ethereum held a dominance of 18.2%, as per data from CoinMarketCap, a digital asset price-tracking website.