Cryptocurrency update: Bitcoin, Ether and other cryptos rise in value, while Shibu Ina sees sharp decline

Cryptocurrency prices are a mixed bag on the morning of Friday, 29 October. While the global cryptocurrency market saw a 6.38 percent increase over the past day, rising to $2.63 trillion, the total crypto market volume fell by 4.44 percent over the last 24 hours to $176.89 billion.

In terms of value, Bitcoin saw a rise of 4.20 percent, rising to $ 61,548.27 in the last 24 hours. The currency had slipped to its lowest in a week and a half on 28 October, before rallying today. Bitcoin is up by over 40 percent in its value since the start of October, making it the best performance for the digital token since February this year.

The digital token has been on a historic rally recently as two futures- backed US Bitcoin ETFs made their debut, attracting over $1 billion in cash. The currency surpassed $ 65,000 last week.

Ethereum also saw a rise of 8.85 percent in its value by 9.45 am on 29 October, rising to $4,372.69 in the last 24 hours. Ethereum’s rise is due to increasing mainstream adoption of cryptocurrencies and the historic Bitcoin peak last week.

Meanwhile, Shibu Ina, which was on a record high in the last few sessions, fell sharply by 14.18 percent in the last 24 hours. The digital currency is currently valued at $0.00006451. However, the currency has been boosted to record highs due to the clamour to add it to Robinhood Markets, rising by 135.30 percent in the last seven days.

Dogecoin also rose by 24.08 percent to reach $0.2971, while Solana rose by 6.87 percent in the last 24 hours to reach $ 201.74.

Cardano rose by 4.06 percent to reach a value of $ 2.02 in the last 24 hours, while Tether fell by 0.07 percent to fall to $1. Binance Coin rose by 8.22 percent to rise to $496.18.

Digital currency XRP rose by 7.65 percent to $ 1.08 in the last 24 hours. However, the value of the currency has declined by 2.65 percent in the past seven days.