2021-08-05 11:36:55

Cryptocurrency prices today: Bitcoin, Ether rise as virtual coins gain momentum

The value of all popular cryptocurrencies has increased marginally after a period of consolidation. Check the latest virtual coin prices and trends.

The positive momentum witnessed over the past 24 hours indicates that virtual coins will extend gains after a period of consolidation. (Photo: Reuters)

Prices of popular cryptocurrencies recovered as the overall virtual coin market gained some momentum after a period of consolidation.

Bitcoin, the world’s most popular cryptocurrency, rose marginally after losing momentum a day ago. At 3:30 pm, Bitcoin was trading at $38,129.53, up nearly 0.6 per cent. Bitcoin’s market capitalisation also rose to $716.79 billion.

Ether rose sharply by over 5 per cent and was trading above $2,600. The cryptocurrency’s market capitalisation rose above $300 billion. All other altcoins were trading in positive territory including XRP, Cardano, Dogecoin, Stellar, Chainlink, Uniswap, Polkadot, Polygon and Litecoin.

Cryptocurrency highlights | Check yesterday’s prices

The positive momentum witnessed over the past 24 hours indicates that virtual coins will extend gains after a period of consolidation. However, lack of any positive development has slowed proceedings.

Commenting on the crypto market activity, Edul Patel, CEO and Co-founder of Mudrex, a global algorithm based crypto trading platform, said “The positive momentum we witnessed across the cryptocurrency market over the past 24 hours indicates that the bulls were waiting for a breather.”

“The consolidation that had taken over the markets for the past few days allowed this fantastic rally. Both Bitcoin and Ether are looking strong and the market participants are rejoicing it,” he added.

“Technical point to an increased volatility, but that’s a good sign as long as the bulls are active.”

Here are the latest prices and trends of popular cryptocurrencies:

Cryptocurrency

Price (US Dollar)

24-hour change

Market cap (Billion)

Volume (24 Hours)

Bitcoin

38,132.02

1.08%

$715.98

$27.12 billion

Ether

2,607.36

5.33%

$304.50

$30.05 billion

Dogecoin

0.196034

0.39%

$25.60

$964.21 million

Litecoin

138.09

0.88%

$9.42

$1.53 billion

XRP

0.711522

1.88%

$71.15

$2.69 billion

Cardano

1.36

2.15%

$43.72

$1.69 billion

DISCLAIMER: The cryptocurrency prices have been updated as of 02:25 pm and will change as the day progresses. The list is intended to give a rough idea about popular cryptocurrency trends and be updated daily.

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