The cryptocurrency market witnessed a sharp increase in volatility on Friday due to increased sell-off pressure. All popular cryptocurrencies including Bitcoin and Ether remain under pressure ahead of the weekend.
cryptocurrency prices dipped on Friday due to high sell-off pressure in the past 24 hours. The continued cryptocurrency crackdown by China seems to be hurting virtual coin valuations, though not as severe as observed a few months ago.
Bitcoin, the world’s most popular cryptocurrency was down trading $31,412 per cent, down nearly 3.32 per cent at 3:15 pm. Bitcoin's rival Ether has taken a bigger hit and is down over 5 per cent. The second-most popular cryptocurrency has fallen below $1,900 due to increased volatility.
Prices of all other altcoins except Stellar have fallen sharply by 3-8 per cent as a result of higher volatility.
Commenting on the weakness in the crypto market, Edul Patel CEO and Co-founder of Mudrex, a global algorithm-based crypto trading platform, said, “We witnessed an intense sell-off across the crypto spectrum in the past 24 hours.”
“Although the volatility has somewhat reduced now, most cryptos are still in the red,” he added.
Patel went on to say that market participants are keeping a close eye on Bitcoin’s price movements as it influences the rest of the cryptocurrency market.
“BTC has managed to stay above the $31,500 level for now. Altcoins continue to remain under selling pressure. Among the top cryptos, Binance Coin is the only one that shot up in the past 24 hours,” he said.
Here are the latest prices and trends of popular cryptocurrencies:
Cryptocurrency | Price (US Dollar) | 24-hour change | Market cap (Billion) | Volume (24 Hours) |
Bitcoin | 31,434.30 | -3.36% | $589.62 | $24.10 billion |
Ether | 1,874.05 | -4.76% | $218.70 | $17.70 billion |
Dogecoin | 0.180023 | -7.11% | $23.46 | $1.20 billion |
Litecoin | 122.61 | -4.95% | $8.34 | $1.46 billion |
XRP | 0.594961 | -2.86% | $59.49 | $1.89 billion |
Cardano | 1.18 | -5.41% | $38.05 | $1.02 billion |
DISCLAIMER: The cryptocurrency prices have been updated as of 1:25 pm and will change as the day progresses. The list is intended to give a rough idea about popular cryptocurrency trends and be updated daily.
Source: https://www.indiatoday.in/
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