08 Nov , 2021 By : Kanchan Joshi
Bitcoin prices today surged to trade above the $65,000 mark. The world's largest cryptocurrency by market capitalization was up over 5% to $65,353. The most popular digital token is up 121% this year (year-to-date) so far after hitting a record high of near $67,000 in October.
Ether, the coin linked to ethereum blockchain and the second largest crypto, also gained nearly 3% to $4,700 whereas dogecoin rose over 3% to $0.27. Cardano prices gained more than 3% $2.05. Other digital tokens like XRP, Uniswap, Litecoin, Polkadot, Binance Coin were also trading with gains over the last 24 hours. Meanwhile, Shiba Inu tumbled more than 9% at $0.000053 and Solana declined 4% to $243.
The steady stream of news on cryptocurrency adoption by banks, growth of nonfungible tokens on virtual gaming platforms, launch of bitcoin futures-based U.S. ETFs and a need among investors for diversification in an uncertain interest rate environment have pushed several blockchain tokens, including bitcoin and ether, higher since October.
Ether, the world's second-largest cryptocurrency, has been trading around an all-time high, catching up with bitcoin's rally and riding on news of wider blockchain adoption.
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 (ETFs) in the US, and waning concerns about issues like China’s crackdown on the digital-asset space.
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