Bitcoin News

Today’s cryptocurrency prices: Bitcoin is down somewhat, but other virtual coins are up

Today's cryptocurrency prices: Bitcoin is down somewhat, but other virtual coins are up

On Friday, the bitcoin market was trading well, although it is still consolidating. Bitcoin, the world’s most popular cryptocurrency, dropped slightly as it approached $40,000.

Bitcoin Prices

At 12:15 p.m., Bitcoin was trading at $39,771.31, down 0.79% from the previous day. Ether, on the other hand, was up more than 4.24% at $2,397.68. However, the increase in Ether pricing might be related to an impending upgrade. Moreover, the upgrade is a technological change that would drastically affect the mode of transactions.

Ether Surging

It will decrease the supply of Ether while dramatically increasing its price. The planned code overhaul will go online on August 4. Analysts informed news agency Reuters that the update, known as Ethereum Improvement Proposal 1559, is comparable to Bitcoin’s “halving” event.

Though Bitcoin remains the market leader in valuation in the digital coin ecosystem, Ether has emerged as a formidable challenger. Many analysts previously predicted that its value would skyrocket in the future.

CEO of Mudrex comments

Edul Patel, CEO and Co-founder of Mudrex, a worldwide algorithm-based crypto trading platform, commented on the cryptocurrency market, saying:

 “The last 24 hours were yet another day of consolidation throughout the crypto markets.”

“Bitcoin, the most popular cryptocurrency, is seeing some resistance around the $40,000 mark. On the other side, Ether, the biggest Altcoin, appears to be comfy above the $2400 level. “ETH has seen a fantastic rise over the last ten days. However, volumes have decreased recently, which might suggest a trend reversal. Investors and traders should brace themselves for a wild weekend.”

The Market Chart

CryptocurrencyPrice (US Dollar)24-hour changeMarket cap (Billion)Volume (24 Hours)
Bitcoin39,844.53-0.43%$747.90$27.93 billion
Ether2,410.694.99%$281.61$20.84 billion
Dogecoin0.2064080.71%$26.93$1.82 billion
Litecoin141.861.64%$9.67$1.69 billion
XRP0.7496786.13%$74.96$4.21 billion
Cardano1.291.34%$41.62$1.31 billion

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.