Bitcoin, Ethereum Down; Cardano Gains 11%

Business

oi-Roshni Agarwal

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As per Coinmarketcap.com, the global crypto market cap is $2.1 trillion, a fall of 0.33% over the previous day. The total crypto market volume has registered an increase over the last 24 hours is $136.64B, which makes a 3.08% increase.

Bitcoin, Ethereum Down; Cardano Gains 11%

Bitcoin, Ethereum Down; Cardano Gains 11%

Now coming on to crypto prices, there is seen a mixed trend with Bitcoin and Ethereum trending lower in price by a margin. Bitcoin at the time of writing this report was down by 0.98%, while Ethereum was down over 1 percent. Nevertheless, some others including Cardano logged gains of 11% and quoted at a price of $2.76 per token. Others including the likes of Tezos, Tron, Elrond etc. were trading higher by between 6-8%. And yet another crypto Hedera Hashgraph was up over 14%.

It is being asserted that the markets have stabilised as regulatory concerns again surge. In respect of Bitcoin there is expectation that will consolidate with support nearby at the 200-day moving average, although resistance remains strong around the $50,000 price level.

Note on Thursday, the State Power Company of China announced that it is conducting inspections on bitcoin and other crypto mining facilities.”The article stated that virtual currencies such as bitcoin waste energy and evade financial supervision, and have no clear legal status in China,” crypto newswire WuBlockchain tweeted.

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Story first published: Saturday, September 11, 2021, 18:30 [IST]