On November 17, cryptocurrency prices remained negative. The worldwide cryptocurrency market cap is Rs 192.05 lakh crores, down 4.33% from the previous day, while total crypto market volume over the last 24 hours is Rs 10,69,887 crores, up 28.04%.
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Bitcoin, the world’s largest and most well-known cryptocurrency, plummeted more than 4% on Tuesday, extending a week-long slide that included an upgrade to its blockchain.
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According to cryptocurrency analysts, there does not appear to be any news driving the falls, and the swings appear to be driven by profit-taking following the strong run-up.
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“There is a lack of news and this is some pure selling of spot and some additions of short selling. Outside of this, there is no significant news,” said Matthew Dibb, chief operating officer at Singapore-based crypto asset manager Stack Funds.
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Since June, the value of bitcoin has more than doubled, owing to the widespread use of cryptocurrencies and, more recently, the debut of futures-based bitcoin exchange-traded funds in the United States.
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On Sunday, it underwent a big update known as Taproot, which allows its blockchain to conduct more complicated transactions, possibly broadening the virtual currency’s use cases and making it more competitive with ethereum for processing smart contracts.
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Smart contracts are self-executing transactions, the outcomes of which are determined by pre-programmed inputs.
As of 11 am on November 17, these are the prices of the largest cryptocurrencies (data from Coingecko):
- Top 5 cryptocurrencies
Bitcoin (BTC)
BTC is trading at Rs 4,435,471, down by -1.8% in the last 24 hours. Its total market cap is Rs 83,561,232,384,954. The 24-hour trading volume is Rs 3,387,849,604,78. The highest it touched was Rs 4,590,826 and the lowest was Rs 4,394,289 .
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Ethereum (ETH)
ETH is trading at Rs 311,741, down by -3.1% in 24 hours. It has a total market cap of Rs 36,473,748,376,552. The highest it touched was Rs 326,081 and the lowest was Rs 306,085. The 24-hour trading volume is at Rs 2,067,339,030,546.
Binance Coin (BNB)
BNB is trading at Rs 43,095.56, down -4.9% in 24 hours. The highest it touched was Rs 45,895.91 and the lowest was Rs 42,653.44. BNB has a market cap of Rs 7,216,611,563,515. The 24-hour volume is at Rs 134,101,694,278.
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Tether (USDT)
USDT is trading at Rs 74.95, 0.6% up from the previous day. The highest it touched was Rs 75.52 and the lowest was Rs 73.39. The total market cap of USDT is Rs 5,603,603,371,079. The 24-hour trading volume is Rs 6,296,993,769,530.
Solana (SOL)
SOL is trading at Rs 15,940.21, down by -5.7% in the last 24 hours. The highest it touched was Rs 17,131.54 and the lowest was Rs 15,919.95. SOL has a market cap of Rs 4,875,998,082,683. The 24-hour volume trading is at Rs 238,053,971,839.
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