Bitcoin prices touched the 50k mark for the first time in three months on Monday. The prices for the largest cryptocurrency went up by 2.5%, trading at $50,330.39, the highest since May.
On Friday, the cryptocurrency rose by 5.01% to reach the 49k mark. The cryptocurrency had been trading in the $30,000 to $40,000 range for several weeks now. It touched a record high of $65,000 after which the prices plunged.
Other cryptocurrencies like Ethereum and Dogecoin also saw an increase in prices. Ethereum was up by 3.32%, trading at $3,347.50. Dogecoin was up by 1.95%, trading at $0.3215.
The global cryptocurrency market gap stands at $2.15 trillion, a 3.02% increase over the last day. The total crypto market volume stands at $103.30 billion, which was a 1.29 per cent decrease over the previous day.
The data from CoinMarketCap suggest that the total volume in decentralized finance (DeFi) is currently $16.58 billion, 16.5% of the total crypto market 24-hour volume. The volume of all stable coins was $79.63 billion – 77.09 per cent of the total crypto market 24-hour volume.
Rick Bensignor, chief executive officer at Bensignor Investment Strategies, wrote in a note Monday that Bitcoin is “getting nearer the higher end of what I expect as a new trading range in the low-$40,000s to low-$50,000s.”
Cryptocurrency prices as of 10:46 a.m.
(Data sourced from CoinMarketCap)
- Bitcoin: Price- $50,330.39, 24-hour change:2.5%, 7 day change: 5.98%
- Ethereum: Price – $3,347.50, 24-hour change: 3.32%, 7 day change: 1.76%
- Tether: Price – $1, 24 hour change: 0.06%, 7 day change: 0.02%
- Binance coin: $479.06, 24 hour change: 6.19%, 7 day change: 13.88%
- Dogecoin: Price – $0.3215, 24 hour change: 1.95%, 7 day change: -4.46%%
