The cryptocurrency market has witnessed a strong rally over the past 24 hours and most virtual coins are expected to sustain this momentum throughout the day. After the sharp rally, the cryptocurrency market is close to hitting a market capitalisation of $3 trillion.
Bitcoin, the world’s largest cryptocurrency, has touched a three-week high and is up nearly 7 per cent at $65,949 at 1:30 pm. cryptocurrency’s market capitalisation has jumped to $1.24 trillion and the trading volume of the past 24 hours was $1.14 billion.
Earlier, it had jumped more than 4 per cent to as high as $66,170, and was approaching the previous all-time high of $67,016.50.
Meanwhile, Ether hit a new record earlier in the day when it touched $4,768.07. At the time of publication, the cryptocurrency was trading 3.98 per cent higher at $4,728.32. Its market capitalisation stood at $555.56 billion and the 24-hour trading volume was almost $800 million.
It may be noted that Ether is up around 59 per cent since the start of October and Bitcoin about 51 per cent. The rise is due to last month’s launch of US futures-based Bitcoin exchange-traded fund.
A majority of other altcoins, including XRP, Cardano, Polkadot, Stellar, Dogecoin, Chainlink, Uniswap and Litecoin were also trading higher as a result of the rally.
Commenting on the market momentum, Edul Patel, CEO and Co-founder of Mudrex, a global algorithm-based crypto investment platform, said, “The $3 trillion market cap for the cryptocurrency spectrum is within touching distance now. Over the past 24 hours, the market has made a significant bullish move. The largest cryptocurrency, Bitcoin, shot past the $65,000 mark.”
“The crypto fear and greed index shows greed prevailing in the markets. Newer retail traders might likely be better off not taking aggressive trades at the moment,” he added.
Here are the latest prices and trends of popular cryptocurrencies:
|Cryptocurrency||Price (US Dollar)||24-hour change||Market cap||Volume (24 Hours)|
|Bitcoin||65,878.74||6.53%||$1.24 trillion||$1.14 billion|
|Ether||4,729.39||3.86%||$555.49 billion||$799.41 million|
|Dogecoin||0.279896||6.93%||$37.04 billion||$1.77 billion|
|Litecoin||209.03||4.51%||$14.41 billion||$65.71 million|
|XRP||1.29||9.40%||$128.54 billion||$5.66 billion|
|Cardano||2.04||2.61%||$66.86 billion||$159.04 million|
DISCLAIMER: The cryptocurrency prices have been updated as of 01:45 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.