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- Published: October 26, 2021 14:25
New Delhi: Most of the cryptocurrencies are trading in green today, October 26. The global cryptocurrency market capitalisation amounts to Rs 196.53 lakh crore with a 2.07% decrease over the last day. Besides, the market volume by 1.8% amounting to Rs 7,23,471 lakh crore over the last 24 hours.
Bitcoin is experiencing a surge in value on Tuesday. The world’s largest cryptocurrency is trading at $62,811.91, with a surge of 1.71% over the last 24 hours. Bitcoin is undergoing a dominance of 45.20% while 0.17% down over the day.
By market capitalisation, Bitcoin touched $67,139 last week, following the launch of the first Bitcoin futures exchange-traded fund (ETF) at the New York Stock Exchange. However, it witnessed a drop but remained above $62,500.
“Bitcoin currently trades around the $62,000- mark. The asset witnessed a slight correction after it hit its new all-time high of $66,930 last week. Some consolidation is seen but volumes have continued to hold up well. BTC has a market capitalisation of $1.2 trillion and a dominance of 46%. In a nutshell, the past week has been a good one for the market, and largely in the green. Between ETF approval, ETF launch and now new all-time highs, the pace of news is frenetic, but all positive,” stated ZebPay Trade desk.
On the other hand, Ether has been witnessing record high values in a few recent weeks ahead of a major upgrade of its underlying platform, Ethereum. The second most popular crypto increased by 2.80% amounting to $4,236.64 over the day. Other cryptos namely Cardano and Binance coin also experienced a spike.
“Ethereum saw some vigour in the last week. ETH broke out of the descending triangle pattern on the daily chart. Immediate resistance remains at the $0.072 levels, breaking which we could see a strong rally in Ether. Ethereum has shown indications of the start of strong bullish momentum which will trigger other Altcoins towards fresher rallies,” informed WazirX trade desk.
Shiba Inu topped the WazirX exchange in regards to volume with Tether and Bitcoin leaving behind in second and third position respectively.
Here are the top 10 cryptocurrencies and their prices on October 26, 2021
Bitcoin $62,811.91 – 1.71% up in 24 hours
Ether $4,236.64 – 2.80% up in 24 hours
Binance Coin $486.79 -1.52% up in 24 hours
Cardano $2.18 – 2.10% up in 24 hours
Tether $1.00 – 0.00% change in 24 hours
Solana $210.17 – 4.99% up in 24 hours
XRP $1.11 – 2.01% up in 24 hours
Polkadot $44.03 – 3.14% up in 24 hours
Dogecoin $0.2643 – 2.82% down in 24 hours
USD Coin $1.00 – 0.01% down in 24 hours
According to the analysis by WazirX, Ether, Solana, and LINK may likely outperform Bitcoin in the coming weeks and they appeared to be strong against the world’s most popular crypto.
“The past 24 hours witnessed the cryptocurrency market making some aggressive moves. Bitcoin crossed the $63,000 mark and Ether inched closer to the $4300 mark. Solana seems to have a huge buying pressure currently. A massive surge in volumes caused a significant rally in the price as Solana shot up more than 15%. The total traded volumes increased more than 12 per cent over the past 24 hours and the total cryptocurrency market cap went past the $2.61 trillion mark,” said Edul Patel, chief executive officer and co-founder, Mudrex, a global crypto trading platform.