Cryptocurrency prices today were mixed with Bitcoin trading above $50,000 as the world’s most popular and largest cryptocurrency by market capitalization rose marginally to $50,624. Bitcoin, famed for its volatility, has shed more than $18,000 since hitting a record in early November, but it’s still up more than 75% this year (year-to-date or YTD) so far.
Meanwhile, Ether, the coin linked to ethereum blockchain and the second largest cryptocurrency, was trading over a per cent lower at $4,062. On the other hand, Dogecoin prices slipped nearly 1% to $0.18 whereas Shiba Inu also plunged slightly to $0.000038.
Other digital tokens such as Cardano, Solana, Binance Coin, Stellar, Uniswap, Polkadot were also trading with decent gains over the last 24 hours. Meanwhile, global crypto market cap rose over 5% to $2.52 trillion, as per CoinGecko.
Bitcoin, the most popular digital token had fallen about 30% over the past five weeks after setting a record high of almost $69,000 in early November. News that central banks around the globe are considering tighter monetary policy had weighed on risk appetite over the last few weeks.
Cryptocurrency prices went on another roller coaster this past year: surging, plunging and then cycling again. El Salvador became the first country to make Bitcoin legal tender this year whereas the first exchange-traded fund tied to Bitcoin futures also began to trade.
(With inputs from agencies)
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