Cryptocurrency prices shot up over the past 24 hours as the market gained momentum, following a sharp selloff due to concerns over the new Omnicron variant of coronavirus.

Bitcoin, the world’s most popular cryptocurrency, was trading at 57,464.33 or 5.70 per cent higher than its price 24 hours ago at 11:55 am. The market capitalisation of Bitcoin rose to $1.09 trillion and the trading volume over the past 24 hours rose to $963.40 million.

Ether, the native token on the Ethereum platform, has also risen sharply over the past 24 hours. Ether was trading nearly 7 per cent higher than its price 24 hours ago at 11:55 am and its market capitalisation stood at over $500 billion. The 24-hour trading volume was $890 million.

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All other cryptocurrencies rose sharply, marking a complete shift in the virtual coin market momentum. Experts believe that this is a good development for the crypto market and prices are likely to rise over the next few days.

Commenting on the crypto market momentum, Edul Patel, CEO and Co-founder of Mudrex, a global algorithm-based crypto investment platform, said, “After a brief period of sell off across the cryptocurrency spectrum, we saw a complete shift in the market momentum.”

“BTC surpassed the $57,000 mark, followed by which, ETH shot up more than 8 per cent. It prompted a rally across most other altcoins.”

Here are the latest prices and trends of popular cryptocurrencies:

DISCLAIMER: The cryptocurrency prices have been updated as of 12:10 pm and will change as the day progresses. The list is intended to give a rough idea regarding popular cryptocurrency trends and will be updated daily.