In cryptocurrencies, Bitcoin prices today were trading just above $47,000 with the world’s most popular and largest cryptocurrency by market capitalization more than a per cent lower at $47,061. The digital token has risen over 2% in the last two sessions. Meanwhile, global crypto market capitalization slipped marginally to $2.38 trillion, as per CoinGecko.
Ether, the coin linked to ethereum blockchain and the second largest cryptocurrency, was trading nearly 2% higher at $3,808, as per CoinDesk. On the other hand, Dogecoin prices also gained 0.5% to $0.17 whereas Shiba Inu was down 0.6% to $0.000034. Meanwhile, Binance Coin was marginally higher at $529.
Performance of other digital tokens were mixed with Solana, Terra, Polygon, Avalanche were trading with cuts while Litecoin, Stellar, Cardano, Polkadot gained over the last 24 hours.
Crypto prices remained as volatile as ever last year. Bitcoin closed out December with a 19% drop, its largest monthly loss since May, which was also its worst December since 2013. The cryptocurrency rose 60% in 2021 and hit a record of near $69,000 in early November, after which it has had a rough time since hitting an all-time high. Looking ahead, many investors are expecting prices to recover and eventually reach new highs.
The total value of cryptocurrencies more than tripled at its peak in 2021, rising to as high as $2.98 trillion from less than $1 trillion in January, according to CoinMarketCap
Ether outperformed Bitcoin last year from the adoption of blockchain technology by financial technology companies, and perhaps more notably the popularity of non-fungible tokens (NFTs). Among the biggest cryptocurrencies, Binance Coin posted the best return, adding roughly 1,300% in 2021.
(With inputs from agencies)
Never miss a story! Stay connected and informed with Mint.
Download
our App Now!!
