Crytocurrency prices today: Bitcoin, Ether fall over 7%; other altcoins plunge


Cryptocurrency prices plunged over the past 24 hours due to heavy profit booking by investors. Check the latest cryptocurrency prices and trends.

Cryptocurrency prices today

Cryptocurrency prices have plunged on Tuesday due to profit booking. (Photo: Reuters)

Cryptocurrency prices plunged sharply on Tuesday due to a sharp rise in volatility, triggered by profit booking over the past 24 hours. However, a majority of investors remain optimistic about the future of virtual coins.

Bitcoin, the world’s largest cryptocurrency, was trading just above $61,100 or over 7 per cent lower than its value 24 hours ago at 10:45 am. Its market capitalisation fell to $1.15 trillion and the trading volume in the past 24 hours was $1.67 billion. Bitcoin’s value has fallen almost over $5,000 compared to yesterday.

Ether also went through a sharp correction today as it was trading at $4,340 or 7.88 per cent lower than its price 24 hours ago. The cryptocurrency’s market capitalisation fell to $509 billion and the 24-hour trading volume was $1.47 billion.

Most other virtual coins saw sharp value erosion due to higher profit booking, leading to volatility. However, analysts are confident that the volatility will not impact the price of cryptocurrencies over a longer term.

Commenting on the momentum, Edul Patel, CEO and Co-founder of Mudrex, a global algorithm-based crypto investment platform, said, “Over the past 24 hours we saw a massive profit booking across the crypto spectrum.”

“Data showed that a massive number of short positions opened up, prompting a further profit booking. The largest cryptocurrency by market cap now hovers below the $61,000 mark,” he added.

“The altcoins suffered a major setback. The markets are likely to remain volatile over the coming 24 hours.”

Here are the latest prices and trends of popular cryptocurrencies:

Cryptocurrency

Price (US Dollar)

24-hour change

Market cap

Volume (24 Hours)

Bitcoin

61,251.92

-7.01%

$1.16 trillion

$1.67 billion

Ether

4,355.83

-7.46%

$511.62 billion

$1.47 Billion

Dogecoin

0.248589

-5.79%

$32.81 billion

$1.26 billion

Litecoin

247.35

-10.94%

$17.06 billion

$191.88 million

XRP

1.13

-6.87%

$112.90 billion

$3.57 billion

Cardano

1.95

-5.23%

$64.07 billion

$226.17 million

DISCLAIMER: The cryptocurrency prices have been updated as of 01:35 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.

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