Cryptocurrency prices have continued to decrease as the virtual coin market has experienced considerable volatility over the last 24 hours.
Due to massive profit-booking, crypto prices began to decline following Monday’s trading session and have remained sluggish since then. Monthly options expiry, according to experts, is also a cause of volatility in the crypto market.
At 12:07 p.m., Bitcoin (BTC), the world’s most popular cryptocurrency, traded just below $47,000, down 2.95 percent. The market capitalization of the virtual currency has plummeted to $882 billion.
It should be remembered that Bitcoin hit a high of $50,000 on Monday, and its market capitalization is already approaching $950 billion.
The value of Ether (ETH) has likewise plummeted in the last 24 hours. It was selling at $3,109, down more than 3% from the previous day’s price. The market capitalization of Ether has dropped to $363 billion.
Due to the selloff seen over the last 24 hours, all other cryptocurrencies have lost ground as well, trading 3-8 percent lower.
“The crypto markets were very volatile during the previous 24 hours,” Edul Patel, CEO and Co-founder of Mudrex, a worldwide algorithm-based crypto trading platform, said of the cryptocurrency market. Before the monthly options expiry, such volatility is common.”
Here are the latest prices and trends of popular cryptocurrencies:
| Cryptocurrency | Price (US Dollar) | 24-hour change | Market cap (Billion) | Volume (24 Hours) |
| Bitcoin | 46,999.44 | -3.07% | $883.69 | $33.70 billion |
| Ether | 3,112.16 | -3.39% | $364.62 | $20.52 billion |
| Dogecoin | 0.277309 | -6.19% | $36.26 | $2.16 billion |
| Litecoin | 170.77 | -4.09% | $11.68 | $1.66 billion |
| XRP | 1.13 | -4.31% | $112.74 | $4.59 billion |
| Cardano | 2.62 | -6.06% | $84.71 | $5.85 billion |
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