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Cryptocurrency market highlights: Bitcoin and Ether prices fall following a brief correction

Due to slight consolidation in the virtual coin market, cryptocurrency values have fallen during the last 24 hours. After most virtual currencies rallied the day before, trading volumes for certain cryptos dropped on Friday.

Over the last 24 hours, Bitcoin, the world’s most valuable cryptocurrency, has dropped by 1.06% to $47,873.08. The market capitalization of the virtual currency remains above $900 billion, but the 24-hour trading activity has decreased.

Ether was trading at $3,546 at 12 p.m. EST, down 2.54% from its previous high. The market capitalization has dropped to $415 billion, with a trading volume of $914 million.

Due to low trading volumes, popular cryptocurrencies like XRP, Cardano, Stellar, Chainlink, Uniswap, Polygon, and Litecoin saw small adjustments.

“The cryptocurrency spectrum experienced a slight consolidation over the last 24 hours,” Edul Patel, CEO and Co-founder of Mudrex, a worldwide algorithm-based crypto investing platform, said of the downturn.

“Bitcoin and Ether, the two most valuable cryptocurrencies by market capitalization, lingered around their local resistance levels of $48,000 and $3500, respectively. The SHIBA INU token increased by more than 41% after Elon Musk’s ‘Floki’ tweet,” he said.

“In terms of technicals and traded volumes, altcoins appear to be bullish.”

CryptocurrencyPrice (US Dollar)24-hour changeMarket cap (Billion)Volume (24 Hours)
Bitcoin47,857.86-1.00%$900.58$846.74 million
Ether3,544.32-2.52%$415.55$897.74 million
Dogecoin0.2529222.78%$33.18$1.55 billion
Litecoin185.17-2.52%$12.69$100.82 million
XRP1.09-2.67%$108.98$3.26 billion
Cardano2.41-2.86%$78.01$241.05 million

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.