Bitcoin, the largest virtual currency was trading in the green, with gain of 9.05 per cent at $47,570. However, the currency witnessed a substantial gain of $11.30 per cent over the last one week. The Bitcoin prices tumbles last week as China imposed ban on the currency that not roiled only the Chinese market but hit the global markets across the world. Also, the cryptocurrency market in India, mirroring the stock markets across the world that also went through correction- thanks to Evergrande’s financial crisis that impacted the markets across the world.
Ethereum, the rival virtual currency of Bitcoin was also trading with gain 8.90 per cent to $3,236, the currency gained 11.88 per cent over the last one week taking its market cap to $386,18. On the hand, Cardano and Tether both slid by 6.80 per cent and 0.05 per cent respectively over the last one week. Cardano on Friday was trading at $2.21, up 5.51 per cent, the market cap of Cardano stood at $70.77 billion. Tether, however, gaining marginally 0.02 per cent was trading at $1.00. The market cap of Tether was $68.07 billion.
“Cryptocurrency continues to flourish despite the price plunge due to the regulatory tightening in China earlier this week. While the downfall in September was an opportunity for tokens such as Avalanche (AVAX) and Solana (SOL) tokens that surged 52 per cent and 23 per cent respectively, the ever-changing market highlights the volatility of cryptocurrency and its continuous growth. With Bitcoin digital currency up 51 per cent this year, and the market capitalization risen above $800 billion, the crypto market is on track towards its projected reach of $4.94 billion by 2030,” CoinDCX Research Team said.
Binance Coin, treading the same path was trading at $414.75, up 7.59 per cent over the last one day and with the gain of 15.86 per cent over the last one week. However, the market cap of the currency stood at $70.206 billion.
“Although last week remained pretty volatile, the cryptocurrency market is likely heading into the weekend with a marginal decrease on a week-to-week basis. Cryptocurrency market could likely remain volatile during the weekend as large investors usually exit their positions,” Edul Patel, CEO and Co-founder, Mudrex- A Global Crypto Trading Platform said.
According to the coinmarketcap.com, The global crypto market cap is $2.08 trillion, an 8.52 per cent increase over the last day. The total crypto market volume over the last 24 hours is $117.15 billion, which makes a 31.61 per cent increase. The total volume in DeFi is currently $15.70B, 13.40 per cent of the total crypto market 24-hour volume. The volume of all stable coins is now $93.08 billion, which is 79.45 per cent of the total crypto market 24-hour volume. Bitcoin’s dominance is currently 42.98 per cent, an increase of 0.34 per cent over the day.
Here are the top cryptocurrencies and their prices on October 2, 2021 (data from coinmarketcap.com while publishing the article)
Bitcoin - $47,570 with a change of 9.05 per cent over the last 24 hours
Ether - $3,236 with a change of 8.90 per cent over the last 24 hours
Cardano - $2.21 with a change of 5.51 per cent over the last 24 hours
Binance Coin - $414. 75 with a change of 7.59 per cent over the last 24 hours
Tether - $1.00 with a change of 0.02 per cent over the last 24 hours
XRP - $1.02 with a change of 6.90 per cent over the last 24 hours
Solana - $156.90 with a change of 11.94 per cent over the last 24 hours
Dogecoin - $0.2173 with a change of 6.97 per cent over the last 24 hours
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