Major Cryptocurrencies were trading mixed on Monday. The crypto market has turned volatile recently, but logged some gains over the weekend. Six out of top-10 digital tokens were trading lower at 9.30 hours IST, gaining as much as 6 per cent.
Bitcoin, the world’s most popular cryptocurrency, was 1.27 per cent compared to its price a day ago. At 11:30 am, it was inching closer to $34,800. Its closest rival Ether has also staged a decent recovery, rising over 2.3 per cent.
Most other popular cryptocurrencies including Cardano, XRP, Stellar, Uniswap, Chainlink, Polkadot and Litecoin were trading in positive territory. Dogecoin, however, continued to struggle.
Cryptocurrency highlights | Check yesterday's prices
The recovery in the cryptocurrency market is a welcome development for virtual coin investors who have been waiting for prices to stabilise since last week.
Cryptocurrency prices recovered today due to a dip in the US dollar. The fall in the dollar’s valuation is likely to provide a boost to cryptocurrencies over the next few days if there are no other negative developments.
Virtual coin valuations have been falling since last week due to a series of negative developments including scrutiny against major cryptocurrency exchange Binance.
It may be noted that Binance is one of the biggest virtual coin exchanges in the world. The company’s trading volumes in June were $662 billion, up almost 10-fold from July 2020, according to a Reuters report, based on data from CryptoCompare.
Binance has been facing regulatory hurdles in many countries including the US, Britain, Japan and Thailand. Analysts, however, suggest that the impact of the scrutiny against Binance would have a limited impact on the overall cryptocurrency market.
Here are the latest prices and trends of popular cryptocurrencies:
Cryptocurrency | Price (US Dollar) | 24-hour change | Market cap (Billion) | Volume (24 Hours) |
Bitcoin | 34,737.89 | 1.17% | $651.29 | $24.99 billion |
Ether | 2,328.90 | 2.16% | $271.49 | $23.14 billion |
Dogecoin | 0.239143 | -1.05% | $31.13 | $1.94 million |
Litecoin | 141.99 | 1.10% | $9.66 | $2.27 billion |
XRP | 0.676501 | 0.00% | $67.64 | $2.25 billion |
Cardano | 1.45 | 2.06% | $46.71 | $1.24 billion |
