02 Nov , 2021 By : Kanchan Joshi
Bitcoin prices today declined as the world's largest cryptocurrency by market capitalization was trading 0.5% lower at $61,443. The digital token is up 110% this year so far after hitting a record high of near $67,000 in October. Other cryptocurrencies' performance were mixed over the last 24 hours.
Ether, the coin linked to ethereum blockchain and the second largest crypto, was trading marginally higher at $4,329.8. Cardano prices plunged more than a per cent $1.97 whereas dogecoin fell over 3% to $0.26. Other digital tokens like XRP, Solana also declined whereas Stellar, Uniswap were trading with gains over the last 24 hours. Shiba Inu, that has been on a record rally since the past few sessions, was up over 2% whereas Polkadot surged 14% to $49, as per CoinDesk.
Ether prices climbed to record high during the weekend. Ether underpins the affiliated Ethereum Network, the dominant blockchain used for thousands of decentralized applications. The system got a further boost last week after a successful upgrade designed to make it faster and more energy-efficient.
Bitcoin has more than quadrupled in the past year and reached a record near $67,000 last month amid optimism around the debut of Bitcoin futures-backed exchange-traded funds in the US, and waning concerns about issues like China’s crackdown on the digital-asset space.
Meanwhile, Digital asset investment products or crypto funds were in demand as assets under management grew across the board in October, with total AUM reaching $74.7 billion (till 21 October, surpassing the previous all-time high of $58.7 billion in March, according to a report by digital asset data provider CryptoCompare.
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