Cryptocurrency prices today: Bitcoin weakens further amid high volatility, altcoins dip

Cryptocurrency prices today

The cryptocurrency market continues to witness losses duets a spike in volatility, triggered by a sudden meltdown in global financial markets that led to a heavy sell-off overnight.

Stock markets around the world weakened suddenly after concerns about a possible loan default by major Chinese property developer Evergrande. While the situation has eased slightly, investors continue to brace for more volatility as the situation remains uncertain.

Bitcoin, the world’s largest cryptocurrency, was trading at $42,832.22 or 5.87 per cent at 12:50 pm.

Cryptocurrency highlights | Check yesterday’s prices

The market capitalisation of Bitcoin fell sharply to $806.61 billion and the 24-hour trading volume fell to $2.44 billion as a result of higher selling activity.

Ether, the cryptocurrency on blockchain platform Ethereum, barely clawed back above $3,000 after plunging sharply.

The cryptocurrency was down over 4.25 per cent compared to its value 24 hours ago, while the market capitalisation fell to $356 billion.

The 24-hour trading volume fell to $2.25 billion as a result of the heavy sell-off witnessed overnight.

All other popular altcoins including XRP, Polkadot, Stellar, Dogecoin, Chainlink, Uniswap, Polygon and Litecoin fell sharply due to higher selling activity.

Commenting on the weakness, Edul Patel, CEO and Co-founder of Mudrex, a global algorithm based crypto investment platform, said, “The cryptocurrency market remained under bearish dominance. With ETH dropping below the $3000 mark, investors started panicking.”

“It led to an even bigger fall across the Altcoins. The largest crypto, Bitcoin, was able to hold on to the $42,000 mark. The next strong support for BTC is at $40,500,” he added.

“The entire market would be closely tracking the price action in those two market influencers.”

Here are the latest prices and trends of popular cryptocurrencies:

Cryptocurrency

Price (US Dollar)

24-hour change

Market cap (Billion)

Volume (24 Hours)

Bitcoin

42,829.07

-4.46%

$806.11

$2.44 billion

Ether

3,031.35

-3.05%

$355.50

$2.25 billion

Dogecoin

0.208789

-4.26%

$27.40

$2.00 billion

Litecoin

159.72

-2.13%

$10.95

$136.03 million

XRP

0.945416

-1.40%

$94.58

$5.92 billion

Cardano

2.12

0.23%

$68.76

$728.74 million

DISCLAIMER: The cryptocurrency prices have been updated as of 01:15 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.

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