Cryptocurrency prices are facing a steep downfall over some obvious reasons related to the trading market. Here, in this article, we are going to discuss a detailed overview of some well-known cryptocurrency prices today.
The main reason for the plunging of cryptocurrency prices in the past 24 hours is the steep jump in profit-related booking activity. With aggressive selling happening all over the market, the crypto market is unstable at the moment. If you want to know how to buy bitcoin UK, this can be the perfect time to do it.
Firstly, if we talk about the most popular cryptocurrency Bitcoin, the prices fell below 50,000 USD which is the lowest this week. The trade value was marked at 48,200 USD which is around 2.75% lower than the actual price, a day ago at 12:10 pm GMT.
The prices of Bitcoin are less vulnerable to the volatile market than the other cryptocurrencies because of their huge in-stock value and popularity in the stock market. However, it has also confronted a substantial fall in its price, which is 2.75% as we mentioned before. If we talk about the market capitalization of this crypto coin, it stands at 910 billion USD at the moment and the trade volume of the past 24 hours on Bitcoin alone is 1.25 billion USD.
Ether, a known crypto token of the Ethereum family, also encountered a considerable fall in price. The trade by Ether in the past 24 hours was 4,115 USD which is more than 6% lower compared to its price 24 hours ago. It is the second most well-known cryptocurrency after Bitcoin. The capitalization stands at 483 billion USD for the time being and the trade volume in the past 24 hours is nearly 1.35 billion USD.
It is pretty apparent to say that with the fall in the price of these two most popular cryptocurrencies, the others in the market also faced similar price dropping issues as well. By others, we mean XRP, Dogecoin, Litecoin, Polygon, Polkadot, and so on. The reason for it, according to professional crypto analysts, is the high increase in profit-related booking activities. They have also commented that the prices will be shaky for the coming weeks.
A Summary of the Price of Well-Known Cryptocurrencies
Price (US Dollar): 48,219.81
24-Hour Change: -2.90%
Market Cap: 910.79 billion USD.
Price (US Dollar): 4,086.17
24-Hour Change: -6.71%
Market Cap: 480.20 billion USD
Price (US Dollar): 0.168074
24-Hour Change: -4.18%
Market Cap: 22.21 billion USD
Price (US Dollar): 0.833631
24-Hour Change: -1.95%
Market Cap: 83.35 billion USD.
Almost all kinds of cryptocurrencies confronted a fall in price due to over-selling reasons in the crypto market. Among them, Cardano, Ether, and Litecoin are the ones who encountered the worst fall in price which is more than 6.10%, as per the 24-hour change. The crypto market is always volatile and now, we are seeing quite a drastic rise and fall in the prices of all the cryptocurrencies. But as of today, almost all of them are stacked up at a lower price than usual.