Cryptocurrency update: Bitcoin decline in value while Solana and Cardano rise

Bitcoin was priced at $56,894.01 at 9:45 this morning, witnessing a fall of 0.88 percent in the last 24 hours. The currency has seen a fall of 6.14 percent in the last seven days

FP Trending November 23, 2021 10:54:15 IST
Cryptocurrency update: Bitcoin decline in value while Solana and Cardano rise

Representational Image.

The value of cryptocurrency prices was a mixed bag on this morning, 23 November. While Bitcoin, Binance Coin and DogeCoin declined, Cardano and XRP witnessed a rise. The global cryptocurrency market cap fell to $2.56 trillion in the last 24 hours, falling by 0.02 percent.

Bitcoin was priced at $56,894.01 at 9:45 this morning, witnessing a fall of 0.88 percent in the last 24 hours. The currency has seen a fall of 6.14 percent in the last seven days. The value of Bitcoin did hover around $60,000 on 22 November, but it quickly slid down to $57,403.25. The fall in Bitcoin’s value comes just days after it touched an all-time high of $69,000.

Meanwhile, according to CoinMarketCap, the second largest digital token, Ethereum, fell by 0.04 percent to $4,178.37. The value of the digital token has seen a fall of 2.86 percent in the last seven days. Tether also rose by 0.01 percent to reach $1.00, with a rise of 0.04 percent in its value in the last seven days.
Binance Coin fell by 0.65 percent to $565.73, witnessing a sharp fall of 6.24 percent in the past week.

The value of Shibu Ina witnessed a fall of 0.36 percent, rising to $0.00004388 in the last 24 hours. The digital token has seen its value fall by 11.95 percent in the past week. Meanwhile Dogecoin also fell by 0.16 percent in the past 24 hours to fall to $0.222. The cryptocurrency has fallen by 9.16 percent in the last seven days.
XRP rose by 1.43 percent to reach $1.05 while Cardano rose to $1.81 with a gain of 0.77 percent. The digital token Solana, rose by 0.17 percent to $220.42.

The digital tokens Shiba Floki Trillionaire, Mars Space X and Elonomics were the biggest gainers. The value of Shina Floki Trillionaire rose by 3,788.61 percent to $0.0000118 while Elonomics and Mars Space X rose by 618.19 percent and 707.07 percent. The value of these digital tokens also remained below $0.

As per the International Monetary Fund (IMF), crypto-assets present several risks to various aspects of the financial system, and close monitoring of these risks is required.

Updated Date:

also read

Cryptocurrency won't be legal tender by any means, says finance secretary TV Somanathan
Business

Cryptocurrency won't be legal tender by any means, says finance secretary TV Somanathan

Somanathan's remarks come amid the backdrop of the Centre's decision to bring a bill in the Winter Session of Parliament to regulate cryptocurrency and a crash in prices of some popular cryptocurrencies

Centre to introduce cryptocurrency bill among 26 legislations in Parliament's Winter Session
India

Centre to introduce cryptocurrency bill among 26 legislations in Parliament's Winter Session

The Cryptocurrency & Regulation of Official Digital Currency Bill 2021 seeks to create a facilitative framework for creation of official digital currency to be issued by the Reserve Bank of India

Centre to introduce new bill on cryptocurrency in Parliament after Cabinet approval, says Nirmala Sitharaman
Business

Centre to introduce new bill on cryptocurrency in Parliament after Cabinet approval, says Nirmala Sitharaman

The finance minister in Rajya Sabha said the government, RBI and Sebi have been cautioning people about cryptocurrencies being a ‘high risk’ area and ‘more can be done’ to create awareness