Bitcoin, dogecoin, Shiba Inu, other cryptos surge today. Check cryptocurrency prices

Ether, the coin linked to ethereum blockchain and the second largest cryptocurrency, also gained more than 7% to $4,337. Dogecoin price rallied over 3% to $0.20 whereas Shiba Inu rose more than 4% to $0.000039, as per CoinDesk. The performance of other cryptocurrencies like Litecoin, XRP, Polkadot, Uniswap, Stellar, Cardano, Solana also were trading with gains over the last 24 hours.

Investors rotated holdings to Bitcoin alternatives as assets under management (AUM) of bitcoin-based crypto funds fell 9.5% to $48.7 billion in November, the largest month-on-month pullback since July, according to a report by CryptoCompare. Ethereum and other crypto products saw their AUM rise 5.4% to $16.6 billion and 10.4% to $2.6 billion, respectively.

For overall crypto funds or digital asset management products, this resulted in a marginal monthly fall in AUM from $74.7 billion or -5.5% to $70.0 billion. Further, average daily volumes of crypto funds also fell 13% to an average of $732 million, which remains significantly below the all-time high seen in January of $1.51 billion.

In another news, Singapore-based virtual currency exchange Coinstore has begun operations in India at a time when the Indian government is preparing legislation to effectively bar most private cryptocurrencies. Coinstore has launched its web and app platform and plans branches in Bangalore, New Delhi and Mumbai which will act as its base in India for future expansion, its management said.

(With inputs from agencies)