Following a selloff on Monday, cryptocurrency prices fell Tuesday as the virtual coin market’s volatility remained strong. The round of profit booking has also resulted in a 3% decline in the market capitalization of the virtual coin.
Bitcoin, the world’s most popular cryptocurrency, has dropped below $47,000 after briefly approaching $49,000 yesterday.
Bitcoin’s market capitalization has plummeted to $887 billion, down more than 1.60 percent from its last high. The 24-hour trade volume, on the other hand, is still low at $1.09 billion.
Ether, on the other hand, is up 2.08 percent from a day earlier. Ether is the only prominent digital currency that has increased in value in the previous 24 hours. At 11:10 a.m., Ether was trading at $3,237, with a market capitalization of $379.39 billion.
During Tuesday’s trading session, certain virtual currencies, including Polkadot, Uniswap, and Chainlink, rose, while a greater number of virtual coins, such as XRP, Cardano, Dogecoin, Stellar, and Polygon, sank.
“Bitcoin made a push towards the $49,000 level early in the session yesterday,” Edul Patel, CEO and Co-founder of Mudrex, a worldwide algorithm-based crypto trading platform, said of the weak momentum. The markets, on the other hand, moved into profit-taking mode, and BTC dropped further, hovering around $47,000.”
He said, “The whole crypto market felt following this selloff, and the market capitalization plummeted roughly 3%.”
“The crypto spectrum is expected to continue volatile in the following 24 hours.”
Here are the latest prices and trends of popular cryptocurrencies:
|Cryptocurrency||Price (US Dollar)||24-hour change||Market cap (Billion)||Volume (24 Hours)|