Cardano, XRP Shed Nearly 10%

Bitcoin’s price is currently $58,579.36 and its dominance is currently 44.92 percent, an increase of 0.51 percent over the day.

October 28, 2021 / 08:26 AM IST

Cryptocurrency (Representative image)

 

Cryptocurrency prices stayed in the red on Thursday morning Indian time. The global crypto  market cap was down 4.49 percent to $2.46 trillion, though the market volume gained 58.99 percent over the last 24 hours to reach $180.02 billion.

Bitcoin traded at $58,579.36 with a dominance of 44.92 percent, an increase of 0.51 percent over the day, early on Thursday morning.

Bitcoin fell on Wednesday to its lowest level in 1-1/2 weeks, taking losses since hitting a record high of 12 percent, though the digital currency is still on track for its best month since February.

The world’s largest cryptocurrency fell as much as 3.7 percent to $58,100, its lowest since October 15. It has lost 12.1 percent since it hit an all-time high of $67,016 on October 20.

Bitcoin’s losses were down to traders taking profit from its recent rally, said Tony Sycamore, analyst at City Index. The digital currency has notched up gains of almost 35 percent so far this month, which if maintained would be its best performance in eight months.

Bitcoin is facing “a short-term downtrend”, said Du Jun, co-founder of major crypto exchange operator Huobi Group, adding that further fall may be limited, given a relatively low trading volume.

Meanwhile, Shiba Inu soared nearly 67 percent at $$0.00008229. SHIB, the self-proclaimed ‘Dogecoin killer’, which was created in August 2020 by someone who uses the name Ryoshi, is modelled after Dogecoin. The coin has been named after the Japanese dog breed, Shiba Inu. The mascot of Shiba Inu, which is based on the Shiba pup. The coin aims to be the Ethereum-based counterpart to Dogecoin.

As off 7.55 am on October 28, these are the prices of largest cryptocurrencies (data from coinmarketcap.com):

S. No. Name Price 24h % 7d % Market Cap Volume(24h) Circulating Supply
1 Bitcoin
BTC
$58,742.99 -3.05% -9.09% $1,104,593,203,954 $43,632,128,902
744,838 BTC
18,856,356 BTC
2 Ethereum
ETH
$3,980.04 -4.61% -4.80% $466,483,093,064 $26,254,548,388
6,647,119 ETH
118,104,048 ETH
3 Binance Coin
BNB
$453.24 -5.65% -8.88% $75,441,194,732 $2,359,973,214
5,217,922 BNB
166,801,148 BNB
4 Tether
USDT
$1.00 0.07% 0.09% $70,108,941,723 $124,580,191,191
124,511,188,948 USDT
70,070,109,914 USDT
5 Cardano
ADA
$1.93 -9.62% -12.79% $64,386,215,842 $5,115,818,077
2,642,448,212 ADA
33,257,093,656 ADA
6 Solana
SOL
$186.51 -7.24% 1.32% $55,641,181,826 $4,552,125,224
24,633,250 SOL
301,095,220 SOL
7 XRP
XRP
$1.00 -9.79% -13.29% $47,136,493,257 $6,501,470,144
6,484,745,464 XRP
47,015,237,181 XRP
8 Polkadot
DOT
$40.48 -8.99% -8.06% $40,298,693,874 $2,831,757,553
69,396,422 DOT
987,579,315 DOT
9 USD Coin
USDC
$1 0.01% 0.06% $32,592,641,979 $5,765,508,710
5,765,529,192 USDC
32,592,757,762 USDC
10 Dogecoin
DOGE
$0.24 -7.28% -6.28% $31,491,936,198 $5,052,346,485
21,157,166,926 DOGE
131,875,387,608 DOGE