Cryptocurrency update: Bitcoin, Ether and other cryptos decline in value, while Tether witnesses rise

The global crypto market cap also saw a fall of 7.10 percent over the last 24 hours and is currently at $2.66 trillion.

FP Trending November 16, 2021 10:37:51 IST
Cryptocurrency update: Bitcoin, Ether and other cryptos decline in value, while Tether witnesses rise

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Cryptocurrency prices on the morning of Tuesday, 16 November, were a mixed bag. While Bitcoin, Ethereum and Dogecoin witnessed a fall in their value till 9:35 am today, Tether witnessed gains.

The global crypto market cap also saw a fall of 7.10 percent over the last 24 hours and is currently at $2.66 trillion.

In terms of price, the value of Bitcoin fell to $ 61,111.26, witnessing a decline of 6.99 percent in the last 24 hours.  The token did plunge to a record low this year, falling below $30,000 in June, but made a comeback later on. The digital token has grown immensely over the last few months, up by over 114 percent this year-to-date so far.

Ethereum, the second-largest digital token also saw a fall in its value, falling 7.86 percent in the last 24 hours to $4,320.33. But the currency is also witnessing an all-time high due to the rise of Bitcoin and the wide mainstream adoption of cryptocurrencies.

Dogecoin also witnessed a fall in its value as did Shibu Ina. The digital tokens fell by 5.66 percent to $0.2474 and 4.75 percent to $0.00004994 respectively.

Meanwhile, the value of Cardano fell to $1.93, declining by 5.63 percent. XRP also fell by 6.88 percent to $1.13.

Tether rose by 0.09 percent to $1.00 in the last 24 hours. The value of the digital currency has risen by 0.03 percent in the past seven days.
Binance Coin also fell by 7.23 percent in the last 24 hours to $607.23, with the digital token witnessing a decline of 6.41 percent.
The digital currency Solana also fell by 7.47 percent to $225.99 in the last 24 hours.

In other news, Bitcoin underwent a major upgrade on 14 November that enables the execution of more complex transactions by its blockchain. The upgrade makes the token more competitive with Ethereum and has the potential to widen the use of the cryptocurrency.

Updated Date:

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