Bitcoin, Ethereum Decline Continues after Hitting All-Time High of $69,044
The values of the most popular cryptocurrencies continued to decline Thursday, despite reaching fresh highs the day before (November 10). Prices of the world’s most valuable cryptocurrency, Bitcoin (BTC), were $64,452.56 at the time of filing this report on November 11, while the market value of Ethereum (ETH), the second-largest cryptocurrency, was $4,589.95, according to data from cryptocurrency exchange Coingecko.com. Bitcoin (BTC) was the most valuable cryptocurrency at the time of filing this report.
Bitcoin, which reached an all-time high of $69,044, has seen a 2.70 percent drop in the last 24 hours, while Ethereum has seen a 2.52 percent drop in the same time frame, according to CoinMarketCap. Binance Coin (BNB) was in third place, with a market cap of $611.76 and a price of $611.76. In the last 24 hours, it has had a 3.84 percent decline. Tether (USDT) has displaced Cardano (ADA) as the fourth most valuable cryptocurrency, with a price of $1.00 and a 0.00 percent increase in the last 24 hours.
Solana maintained its sixth-place ranking despite a 2.18 percent drop in the last 24 hours, with a market price of $234.88, according to Coinmarketcap.com. Solana is the sixth-most valuable cryptocurrency by market capitalization. Coin with the phrase “meme” on it
Shiba Inu (SHIB) prices have fallen by 10.53 percent in the previous 24 hours, resulting in a setback, while Dogecoin (DOGE) prices have fallen by 6.25 percent in the last 24 hours, also resulting in a setback for the cryptocurrency. In accordance with data from Coinmarketcap.com, the Shiba Inu was trading at $0.0000492 and Dogecoin was trading at $0.2576 when the report was filed on Monday.
According to a new survey released by research firm ICO Analytics, the Shiba Inu has surpassed all other cryptocurrencies as the most popular cryptocurrency on Twitter in October. As of today, Shiba Inu has a 22 percent stake of all crypto asset debates on the site, while Dogecoin is in fourth place with a 4.8 percent part of the network’s crypto asset discussions.
The popularity of ETH and BTC has decreased by 1%, with 8.1 and 7.2 percent, respectively, of the total market capitalization. According to Coinmarketcap.com, PixTapes, with a total volume of 40.67 SOL, continues at the top of the NFT (non-fungible token) collecting list, despite seeing a drop of 64.33 percent in the last 24 hours, according to Coinmarketcap.com. Cryo Pass-SU recorded a volume of 40.49 SOL in the last 24 hours and has grown by 471.89 percent in that time frame.
In the third position on the list, WipeMyAss NFT is represented by a volume of 23.24 SOL, representing a decrease of 0.94 percent. Furthermore, Crypto Idolz experienced a 23.18 percent drop in value with a volume of 16.97 S SOL in the last 24 hours, according to CoinMarketCap.
The implementation of decentralised cryptocurrency Bitcoin as a legal payment option in addition to the national currency, the Zimbabwean Dollar, is being examined by Zimbabwe, which follows El Salvador’s lead in this regard. Shaktikanta Das, governor of the Reserve Bank of India, stated that the central bank is extremely concerned about cryptocurrency from the standpoint of the macroeconomy and financial stability. Das was speaking at the Business Standard’s BFSI Summit.
As Das explains, “we have provided our thorough ideas, and as far as I am aware, the topic is currently under active review by the government, and the government will decide.” It should be mentioned that cryptocurrencies are quite volatile in nature, and that it would be wise to conduct thorough study before making any investments in them.