Cryptocurrency prices were mixed on Friday as volatility impacted gains over the past 24 hours after a brief rally. There are chances that the cryptocurrency market could recover over the next few days.
Bitcoin, the world’s largest cryptocurrency, gained marginally and was trading at $44,200.38 or 0.65 per cent higher than its price 24 hours at 11:30 am. Its market capitalisation rose to $832.35 billion and the 24-hour trading volume stood at $1.16 billion.
Ether, which trades on the Ethereum blockchain platform, lost momentum over the past 24 hours and was trading at $3,071.97, down 1.21 per cent from its price 24 hours ago. Ether’s market capitalisation fell to $361.02 billion while trading volume remained weak at $750 million in the past 24 hours.
Altcoins were largely mixed as some gained while others lost momentum. Cardano, Polkadot, Stellar, Litecoin and Chainlink gained in the past 24 hours, but XRP, Polygon, Dogecoin and Uniswap fell.
Commenting on the cryptocurrency market momentum, Hitesh Malviya, cryptocurrency and investment expert, said, “Bitcoin bounced from key support level yesterday, now making its way back to $48,000. We could expect bitcoin to retest this level before taking the next direction, fundamentals depend on the Evergrande situation, so we need to watch how the price will react when it will retest the next resistance level at $48000.”
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The fact that Bitcoin has moved up seems to be a positive indicator, according to Edul Patel, CEO and Co-founder of Mudrex, a global algorithm based crypto investment platform.
“The past 24 hours remained volatile for the cryptocurrency market. We witnessed a strong rally initially. However, the latter part of the session ended in most of the cryptocurrencies being sold off,” Patel said.
“Although the total Crypto market cap went marginally down, Bitcoin dominance went marginally up and stood over 42 per cent. BTC dominance moving higher is a good sign for the largest cryptocurrency,” he added.
Here are the latest prices and trends of popular cryptocurrencies:
|
Cryptocurrency |
Price (US Dollar) |
24-hour change |
Market cap (Billion) |
Volume (24 Hours) |
|
Bitcoin |
44,424.92 |
1.30% |
$836.27 |
$1.16 billion |
|
Ether |
3,094.27 |
-0.23% |
$362.93 |
$750.62 million |
|
Dogecoin |
0.221391 |
-0.53% |
$29.06 |
$1.06 billion |
|
Litecoin |
161.07 |
0.99% |
$11.05 |
$74.39 million |
|
XRP |
0.983722 |
-1.36% |
$98.33 |
$4.01 billion |
|
Cardano |
2.28 |
1.58% |
$73.86 |
$269.83 million |
DISCLAIMER: The cryptocurrency prices have been updated as of 12:15 pm and will change as the day progresses. The list is intended to give a rough idea about popular cryptocurrency trends and will be updated daily.
This news is republished from another source. You can check the original article here
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