Cryptocurrencies have started off the week on a bright note as virtual coin prices rose over the past 24 hours, signalling a rise in momentum. Prices of all popular virtual coins fell on Friday after top Chinese regulators banned cryptocurrency trade and mining.
Bitcoin, the world’s largest cryptocurrency, rose above $44,000 or over 5 per cent higher than its value 24 hours ago at 11:40 am. The cryptocurrency’s 24-hour trading volume rose marginally to $911 million and market capitalisation increased to $831.45 billion.
Ether performed even better as it rose over 11 per cent from its price 24 hours ago. It was trading at $3,142.86 and the market capitalisation rose to $368 billion. The trading volume over the past 24 hours stood at $922 million.
A broad-based recovery has been seen on Monday after a short spike in volatility following the Evergrande crisis in China.
Most other altcoins including XRP, Cardano, Polkadot, Stellar, Dogecoin, Chainlink, Uniswap and Litecoin also remained positive.
Commenting on the positive momentum, Hitesh Malviya, cryptocurrency and investment expert, “Bitcoin is showing some strength on lower time frames, and we could expect the price to retest $47,000-$48,000 area. A clean breakout above these levels will make the whole market bullish again, but the rejection around these levels will open the path to $36,000.”
Edul Patel, CEO and Co-founder of Mudrex, a global algorithm based crypto investment platform, said, “The new week began with a bang for the cryptocurrency market.”
“Over the past 24 hours, the total traded volumes saw a sharp increase of over 20 per cent, and the total market capitalisation went past $1.95 trillion. Although Bitcoin rose above the $44,000 mark, the star performer of the day was the largest altcoin, Ethereum,” he added,
“This week might be a game-changer for the altcoins.”
Here are the latest prices and trends of popular cryptocurrencies:
|Cryptocurrency||Price (US Dollar)||24-hour change||Market cap (Billion)||Volume (24 Hours)|
DISCLAIMER: The cryptocurrency prices have been updated as of 12:30 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 daily.