Cryptocurrency prices today were mixed with bitcoin trading above $50,000 as the world’s most popular and largest cryptocurrency increased marginally by market capitalization to $50,624. Bitcoin, known for its volatility, has dropped by more than $18,000 since hitting a record low in early November, but it is still up more than 75% this year (Year-to-Day or YTD).
Meanwhile, Ether, the coin and the second largest cryptocurrency tied to the Ethereum blockchain, was trading down more than a percentage point at $4,062. On the other hand, the price of Dogecoin dropped by almost 1% to $0.18, while the Shiba Inu also declined slightly to $0.0000038.
Other digital tokens like Solana, Polygon, Uniswap, Polkadot, Stellar, Terra were also trading with decent gains in the last 24 hours. Meanwhile, according to CoinGecko, the global crypto market cap grew marginally to $2.51 trillion.
Bitcoin, the most popular digital token, has fallen nearly 30% over the past five weeks after setting a record high of around $69,000 in early November. News that central banks around the world are considering tougher monetary policy has affected risk appetite in the past few weeks.
Cryptocurrency prices went on another roller coaster last year: rising, falling and then cycling. El Salvador this year became the first country to make bitcoin legal tender, while the first exchange-traded fund tied to bitcoin futures also began trading.
(with inputs from agencies)
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