Cryptocurrency prices were mixed today as Bitcoin was trading nearly 2% lower at $33,930 while ether, the coin linked to the ethereum blockchain network, was also down over 1% to $2,234, data by CoinDesk showed. Similarly, Dogecoin also plunged to $0.23, down 4%. XRP, Litecoin also declined over the last 24 hours.
However, other virtual tokens like Cardano was trading with slight gains as it was up at $1.42 whereas Uniswap surged 4% to $21.2. Uniswap volume grew more than 50% in the last 24 hours. However, it is still far away from its peak in May.
Bitcoin started off the week on the backfoot after a recovery over the weekend proved fleeting. It has lost almost 50% from its mid-April high amid questions about its energy consumption sparked by Tesla Inc.’s Elon Musk, as well as a clampdown from China. Even so, its value has nearly quadrupled in value over the past year. The world’s largest cryptocurrency by market capitalization is up over 16% this year (year-to-date).
Strategists have cautioned that a break below the key $30,000 level could spell trouble, while a move toward or above $40,000 is seen as heralding further gains, reported Bloomberg.
Never miss a story! Stay connected and informed with Mint.
our App Now!!