On October 12, cryptocurrency values remained primarily in the red. The worldwide cryptocurrency market cap is Rs 175.02 lakh crores, down 1.09% from the previous day, while the total crypto market volume is Rs 7,89,409 crores, up 7.92% in the last 24 hours. Bitcoin’s price is currently Rs 44,45,270, and its market share is 46.5%, up 0.93% from the previous day.
Except for Bitcoin, most cryptocurrency prices fell on Tuesday, with Solana, Ripple, and Polkadot each losing up to 3%. Bitcoin, the world’s largest cryptocurrency, was trading above $57,000 for the first time since May, after gaining nearly 1.5 % in the last 24 hours. Meanwhile, Ether was trading at $3,509, down 0.29% from its previous day’s pricing. In comparison to the previous day, the worldwide crypto market cap fell by 1% to $2.30 trillion. The total crypto market volume, on the other hand, increased by more than 7% to $105.63 billion.
Cryptocurrency Prices as per 12:15 pm today as per WazirX:
Bitcoin
- US Dollar Price: 57,436.16
- 24-hour change: 1.34%
- Market cap: $1.08 trillion
- Volume: $1.28 billion
Ether
- US Dollar Price: 3,502.68
- 24-hour change: -0.47%
- Market cap: $411.15 billion
- Volume: $722.79 million
Dogecoin
- US Dollar Price: 0.225761
- 24-hour change: -4.04%
- Market cap: $26.69 billion
- Volume: $1.26 billion
Litecoin
- US Dollar Price: 174.25
- 24-hour change: -4.01%
- Market cap: $11.98 billion
- Volume: $79.50 million
XRP
- US Dollar Price: 1.10
- 24-hour change: -5.05%
- Market cap: $110.07 billion
- Volume: $4.77 billion
Cardano
- US Dollar Price: 2.12
- 24-hour change: -4.57%
- Market cap: $68.66 billion
- Volume: $215.17 million
Cardano: A cryptocurrency on the rise by Ethereum’s founder
Cardano (ADA) is a decentralised, open-source blockchain with a proof-of-stake consensus algorithm. Charles Hoskinson, the co-founder of Ethereum, announced it as a blockchain that outperforms Ethereum’s proof of work (PoW) method. Ethereum, a second-generation blockchain, was created in response to the scalability concerns that plagued Bitcoin, a first-generation blockchain. Aside from completing financial transactions, Ethereum provides a higher level of programmability to its users. It gives developers access to the Ethereum blockchain, allowing them to experiment with code and create decentralised apps (DApps). Hoskinson departed Ethereum after a disagreement with Vitalik Buterin, another co-founder, over Hoskinson’s desire to turn Ethereum into a for-profit corporation, which Buterin refused to agree to. As a result, Cardano is classified as one of the ‘Ethereum-killers,’ a group of third-generation blockchains that aim to outperform Ethereum.
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