Bitcoin rises while Cardano, Avalanche fall. Check cryptocurrency prices today
Bitcoin extended a two-day rally, leading broad-based gains in cryptocurrencies. The world's most popular and largest cryptocurrency surged over 2% to $44,041. The digital token is up about 15% in the last five days. However, it is more than 30% far away from its record high of near $69,000 it had hit in November 2021.
Similary, Ether, the coin linked to the ethereum blockchain and the second-largest cryptocurrency in terms of market capitalization, rose marginally to $2,933. On the other hand, dogecoin price was trading about a per cent higher at $0.13 whereas Shiba Inu also gained more than 3% to $0.000026.
The performance of other digital tokens were mixed as Terra, Tether Solana, XRP gained while Avalanche, Stellar, Polygon, Litecoin, Cardano, Polkadot, Terra prices were trading with cuts over the last 24 hours. Meanwhile, the global cryptocurrency market capitalisation today bounced back to $2 trillion, up about a per cent in the last 24 hours, as per CoinGecko.
Trading volumes in Bitcoin using the ruble have surged to the highest level since May, suggesting Russians are potentially moving their money into crypto as the ruble plunges to a record low amid the intensifying war between Russia and Ukraine, as reported by Bloomberg.
Meanwhile, trading volumes overall for Bitcoin and Ether, the second-largest cryptocurrency by market value, have dropped even as their prices rose over the last month, according to a report from CryptoCompare. Average daily aggregate trading volume on crypto products stood around $353 million, down more than 24% from January.
(With inputs from agencies)
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