Cryptocurrency price story: Bitcoin, Ether down nearly 5% as weakness grips virtual currencies – India Today

The world’s most popular virtual currency, Bitcoin, was down nearly 5 per cent at 12:30 pm. The digital currency’s value has eroded by $3,000 after it hit 40,500 earlier this week. Bitcoin’s closest rival Ether was also down 5 per cent from its value 24 hours ago and is currently trading below $2,400. Check latest prices and trends.

Bitcoin’s value has declined after crossing $40,000 earlier this week. (Photo: Reuters/Representational image)

Cryptocurrencies were trading weaker on Friday as the value of popular digital coins kept declining after Thursday’s fall.

The world’s most popular virtual currency, Bitcoin, was down nearly 5 per cent at 12:30 pm. The digital currency’s value has eroded by $3,000 after it hit 40,500 earlier this week. Bitcoin’s closest rival Ether was also down 5 per cent from its value 24 hours ago and is currently trading below $2,400.

All other popular cryptocurrencies like Cardano, Dogecoin, Stellar, Polkadot, Chainlink and Litecoin were trading at least 3 per cent weaker.

Cryptocurrency highlights: Check yesterday’s prices and trends

The fresh weakness in cryptocurrencies comes after online broker Futu Holdings said yesterday that it has restricted services linked to CME cryptocurrency futures contracts in mainland China due to the regulatory environment.

“Futu decided to restrict services related (to) CME crypto futures contracts in mainland China,” the company said in a statement.

A sharp rise in the valuation of the US dollar has also weakened the value of cryptocurrencies at the moment. The dollar has surged to a two-month high after the US Federal Reserve’s rate hike projection.

Another development that seems to have impacted cryptocurrency prices is the decision taken by US regulators with regard to Bitcoin ETF.

The Securities and Exchange Commission said in a regulatory filing that it will seek more public comment on a proposal to list the product on Cboe Global Markets Inc.

The development has demanded sentiments of Bitcoin investors, who have been frustrated by the agency’s reluctance to approve a Bitcoin ETF. They believe that the move could help Bitcoin emerge as a mainstream asset among institutional investors.

Here are the latest prices and trends of popular cryptocurrencies:

Cryptocurrency

Price (US Dollar)

24-hour change

Market cap (Billion)

Volume (24 Hours)

Bitcoin

37,711.57

-4.06%

$706.61

$36.28 billion

Ether

2,339.59

-4.67%

$272.21

$25.19 billion

Dogecoin

0.302713

-3.50%

$39.33

$1.65 billion

Litecoin

172.05

-1.59%

$11.68

$2.95 million

XRP (Ripple)

0.839420

-2.26%

$83.97

$1.60 million

Cardano

1.48

-3.45%

$47.68

$5.41 million

DISCLAIMER: The cryptocurrency prices have been updated as of 12:55 pm and will change as the day progresses. The list is intended to give a rough idea about popular cryptocurrency trends and will be updated on a daily basis.)

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