Cryptocurrency prices have been rising sharply for the past few sessions with top virtual coins inching closer towards new highs. The momentum could face disruption over the next 24 hours as investors may look to gain from the sharp rally in the cryptocurrency market.

Bitcoin, the world’s largest cryptocurrency, was trading above $62,000, down marginally over its price 24 hours ago at 1 pm. Bitcoin’s market capitalisation remains over 1.17 trillion and the 24-hour trading volume has increased to $2.32 billion.

Ether was also trading lower at $3,797.53, nearly 2 per cent lower than its value 24 hours ago. The largest altcoin’s market capitalisation hovered around $445 billion and the trading volume over the past 24 hours was $1.15 billion.

Most other altcoins including XRP, Cardano, Polkadot, Stellar, Uniswap, Chainlink, Polygon were trading lower than their price 24 hours ago due to profit booking. It is likely that the valuations may fall further as investors look to cash in on the rally.

Commenting on the cryptocurrency market, Edul Patel, CEO and Co-founder of Mudrex, a global algorithm based crypto investment platform, said, “The total crypto market cap reached $2.5 trillion. Over the past 24 hours, a majority of cryptocurrencies have hovered around their current prices.”

With Bitcoin holding the $62,000 level, market participants are eyeing a new all-time high for the largest cryptocurrency,” he added.

“The coming 24 hours could be a volatile session for the entire crypto spectrum.”

Here are the latest prices and trends of popular cryptocurrencies:

CryptocurrencyPrice (US Dollar)24-hour changeMarket capVolume (24 Hours)
Bitcoin62,228-0.04%$1.17 trillion$2.32 billion
Ether3,800.07-1.29%$446.17 billion$1.15 billion
Dogecoin0.2494882.74%$32.83 billion$4.72 billion
Litecoin188.641.61%$12.97 billion$81.88 million
XRP1.09-0.50%$109.12 billion$3.91 billion
Cardano2.13-0.94%$69.13 billion$138.47 million

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 regarding popular cryptocurrency trends and will be updated daily.

Author

India today

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