Cryptocurrency prices fell sharply on Wednesday. (Photo: Reuters)<\/p>\n
The cryptocurrency market witnessed a decline over the past 24 hours as the value of popular virtual coins fell sharply. The reason behind the decline was heavy profit bookings by investors.<\/p>\n
Bitcoin, the largest cryptocurrency, fell on Wednesday to the lowest in a week and a half after reaching an all-time high. However, the popular cryptocurrency is still on track for its best month since February.<\/p>\n
Its price was $58,867 or 6 per cent lower than its value 24 hours ago at 3:40 pm. Bitcoins market capitalisation fell to $1.11 trillion and the 24-hour trading volume fell to $1.84 billion.<\/p>\n
Tony Sycamore, analyst at Australian investment platform City Index told news agency Reuters that Bitcoins losses were down to traders taking profit from its recent rally.<\/p>\n
Cryptocurrency highlights | Check yesterday's prices<\/p>\n
Ether also fell sharply by nearly 4.7 per cent after gaining for more than a week. Ether remained just above $4,000 or 4.68 per cent lower than its value 24 hours ago. Ethers market capitalisation fell to $470.38 billion and the trading volume of the past 24 hours was $1.83 billion.<\/p>\n
Most other altcoins also fell sharply during Wednesdays session as investors looked to book profits after the recent rally.<\/p>\n
Commenting on the momentum, Edul Patel, CEO and Co-founder of Mudrex, a global algorithm-based crypto investment platform, said, Over the past 24 hours we saw the markets remaining in a range bound territory. Bitcoin fell marginally and with it, dominance also came down.<\/p>\n
The coming 24 hours would likely be a positive session for the altcoins, he added.<\/p>\n
Cryptocurrency<\/p>\n
Price (US Dollar)<\/p>\n
24-hour change<\/p>\n
Market cap<\/p>\n
Volume (24 Hours)<\/p>\n
Bitcoin<\/p>\n
58,792.64<\/p>\n
-6.39%<\/p>\n
$1.19 trillion<\/p>\n
$1.12 billion<\/p>\n
Ether<\/p>\n
4,001.11<\/p>\n
-5.03%<\/p>\n
$469.96 billion<\/p>\n
$1.83 billion<\/p>\n
Dogecoin<\/p>\n
0.234013<\/p>\n
-13.20%<\/p>\n
$30.82 billion<\/p>\n
$3.39 billion<\/p>\n
Litecoin<\/p>\n
181.31<\/p>\n
-7.10%<\/p>\n
$12.48 billion<\/p>\n
$148.58 million<\/p>\n
XRP<\/p>\n
1.01<\/p>\n
-10.06%<\/p>\n
$100.85 billion<\/p>\n
$5.54 billion<\/p>\n
Cardano<\/p>\n
1.94<\/p>\n
-10.84%<\/p>\n
$63.08 billion<\/p>\n
$332.39 million<\/p>\n
DISCLAIMER: The cryptocurrency prices have been updated as of 04:00 pm and will change as the day progresses. The list is intended to give a rough idea regarding popular cryptocurrency trends and will be updated daily.<\/p>\n
Click here for IndiaToday.ins complete coverage of the coronavirus pandemic.<\/p>\n
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