Cryptocurrency prices: Bitcoin falls, Ether gains amid negative trends in global markets

By Asmita Pant  Aug 24, 2022, 04:16 PM IST (Published)

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Bitcoin — the world’s largest and most popular virtual currency — fell 0.55 percent to $21,327.1. Its market value stood at $408.6 billion. The trade volume was at $31.2 billion. 

Major cryptocurrencies were trading mixed on Wednesday amid largely negative trends in domestic equities. The global crypto market cap stood at $1.02 trillion with a volume of $68.3 billion in the past 24 hours.

Bitcoin — the world’s largest and most popular virtual currency — fell 0.55 percent to $21,327.1. Its market value stood at $408.6 billion. The trade volume was at $31.2 billion.

Edul Patel, CEO and co-founder of Mudrex – A Global Crypto Investing Platform said, “If BTC can break out of its current level, we can expect it to break above its recent resistance at $21,744. The second largest cryptocurrency, Ethereum, also made a false breakout above the $1,600 level. If the price of ETH can hold above this vital level, bulls might get a chance to seize the initiative. The following critical level of ETH would be $1,700.”

Ethererum or Ether — the second largest virtual currency — was 1.3 percent up at $1,634.1 with a market capitalisation of $200 billion. The trade volume of Ethereum was $18.2 in the last 24 hours.

Meme-based virtual currency Dogecoin was 1.4 percent down with a trading volume of $325.4 million. Shiba Inu was trading 0.2 percent higher at $0.000013 while Solana was 0.6 percent lower at $35.1 billion.

The Indian financial market opened in red in choppy trade on Wednesday.

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