Tuesday, Jan 25, 2022
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Bitcoin, Ethereum Touch New Highs, Meme Coins Attempt Revival

Bitcoin (BTC) clocked a 3.5 per cent growth on November 9, while Ethereum (ETH) moved up 1.7 per cent. The rise has been arrested today.

Bitcoin, Ethereum Touch New Highs, Meme Coins Attempt Revival
Bitcoin, Ethereum Touch New Highs, Meme Coins Attempt Revival -

The prices of top cryptocurrencies Bitcoin (BTC) and Ethereum (ETH) touched new highs on November 9, but the rise halted today as Bitcoin fell from $68,290 to $66,519.53, while Ethereum fell from $4,807 to $4,684.30 at the time of filing the report on November 10, according to data from cryptocurrency exchange Coinmarketcap.com.

On November 9 morning, while the world’s biggest cryptocurrency Bitcoin was trading at around $68,290, Ethereum touched around $4,807, according to Coinmarketcap.com. Notably, Bitcoin clocked a 3.5 per cent growth, while ETH has scored 1.7 per cent over the same period.

Ethereum is a decentralized, open-source blockchain that was conceived in 2013 by programmer Vitalik Buterin, who launched the cryptocurrency in 2014 along with Gavin Wood. Bitcoin, on the other hand, is the world’s biggest cryptocurrency that was invented in 2008 by Satoshi Nakamoto. There is controversy on whether Nakamoto was a single person or a group of people.

This has helped lift the total market capitalisation of cryptocurrencies above $3 trillion on November 9.

Apart from these coins, Binance Coin (BNB) was in the third position with a market price of $648.49. It witnessed 1.47 per cent growth in the last 24 hours ending November 9 morning. Solana (SOL) was at fourth place on November 9; it grew by 0.92 per cent with a market price of $247.53.

Meme Coins

Meme coin Shiba Inu (SHIB) witnessed 3.3 per cent growth in prices in the last 24 hours and tried to revive from the fall earlier, while Dogecoin (DOGE) has recorded 6.4 per cent growth in the last 24 hours ending November 9 morning. Shiba Inu was trading at $0.00005647 and Dogecoin at $0.287124 at the time of filing the report, according to data from Coingecko.com.

“There are other meme tokens that are coming up. But none of them looks primed to get close to Doge or Shiba Inu in terms of adoption. As of date, there are more than 300 meme tokens. We anticipate the positive momentum of the market as the velocity of money coming into crypto seems no signs of abating,” says Gaurav Dahake, CEO and founder, Bitbns

Top NFT Collections

With a volume of 236.22 SOL, PixTapes is at the top of the NFT (non-fungible token) collections list and has grown 125.06 per cent in the last 24 hours, as per Coinmarketcap.com.

Crypto Idolz-Butts recorded a volume of 23.14 SOL and has grown by 69.9 per cent in the last 24 hours ending November 9 morning. Koalas has experienced huge growth in NFTs in the last 24 hours at 1354.29 per cent with a volume of 15.27 SOL. Moreover, Cryo Pass-SU witnessed 21.88 per cent plunges with a volume of 9.5 SOL in the last 24 hours ending November 9 morning.

It may be noted that cryptocurrencies, including meme coins and NFTs, are extremely volatile in nature.

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