The cryptocurrency price declined today with bitcoin trading below the $43,000 level. The world’s most popular and largest digital token was trading at $42,275, down nearly 1.5%. Bitcoin is down more than 8% since the start of the new year (Year-to-Day or YTD). Meanwhile, global cryptocurrency According to CoinGecko, the market cap fell 2% today to $2.15 trillion.
According to CoinDesk, Ether, the coin tied to the Ethereum blockchain and the second largest cryptocurrency, tanked nearly 3% to $3,323. On the other hand, Dogecoin price is trading down more than 2% to trade at $0.17, while the Shiba Inu is down almost 4% to $0.0000029. Similarly, Binance Coin was down 3.5% at $478.
The performance of other cryptos was mixed as Solana, XRP, Polkadot, Terra, Tether also slipped in the last 24 hours, however, Cardano price rose over 14% and Stellar, Litecoin were also trading with gains .
Cardano’s ADA token is up more than 40% over the past week, while there have been some promising developments on its blockchain. Cardano has been volatile in recent months. It was the third-largest cryptocurrency for a while, followed by a fall and is down nearly 50% from its early September record.
The meme-based Dogecoin made headlines after Tesla CEO Elon Musk tweeted that the company would accept it as payment for select merchandise. Crypto Solana was another altcoin in focus, with Bank of America analysts saying Solana could pull blockchain market share away from Ethereum and “become the visa of the digital asset ecosystem”.
Bitcoin’s ‘hash rate’, a measure of the power of the bitcoin computing network, touched an all-time high of over 215 million terahashes per second last week, according to blockchain data provider Glassnode.
(with inputs from agencies)
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