Cryptocurrency update: Bitcoin and other cryptos decline in value; all you need to know

Bitcoin has lost more than $22,000 since it hit a record high in November and is currently up about 60 percent, year-to-date

FP Trending December 30, 2021 12:22:59 IST
Cryptocurrency update: Bitcoin and other cryptos decline in value; all you need to know

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Cryptocurrency Bitcoin has continued its slump, losing more ground to make December its worst performance since May this year. The total market cap of the biggest digital token fell to $46,640, marking a loss of nearly 3 percent, as per a Live Mint report.

Bitcoin has lost more than  $22,000 since it hit a record high in November and is currently up about 60 percent, year-to-date.

The global crypto market capitalization has gone down to $2.18 trillion, as per CoinMarketCap.

As per CoinMarketCap, the value of Bitcoin has fallen by 3.37 percent in the last seven days, taking its price to $46,766.55 as of 11:30 am. While the currency is witnessing a fall right now, exchange-traded fund (ETF) investors are still moving towards products that track digital tokens' futures. According to data from Bloomberg, the  ProShares Bitcoin Strategy ETF had taken in over 40 million so far this month.

The value of Ethereum, the second-largest digital token, has also witnessed a fall, with the currency declining 3.50 percent in the last 24 hours. Ether is currently valued at $3,672.19, with a fall of 7.42 percent in its value over the past week.

Moreover, Tether has seen a fall of 0.01 percent in the last 24 hours and is currently valued at $1.00. Solana fell by 3.20 percent to $171.11 while Cardano declined by 6.32 percent in the last 24 hours to $1.32.

Dogecoin and Shibu Ina have also seen losses, with Dogecoin falling by 2.93 percent to $0.1704. Shibu Ina declined by 6.05 percent in the last 24 hours to $0.00003358.

XRP fell by 3.17 percent in the last 24 hours to $0.8281. Binance Coin incurred losses of 3.91 percent in the last 24 hours to fall to $515.33.

USD Coin rose by 0.02 percent in the past 24 hours to reach $1.00. The digital token has witnessed a rise of 0.11 percent in the last seven days.

Terra Luna fell by 4.77 percent to $82.66. Polkadot also witnessed losses of 4.68 percent in the last 24 hours, declining to $ 26.91. The digital token Avalanche also fell by 6.80 percent in the last hours to $101.34.

 

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