Sunday, Jul 03, 2022
Outlook.com

Bitcoin, Meme Coins Turn Red A Day After Bounce Back

Bitcoin (BTC) witnesses a fall of 1.68 per cent, while meme coin Shiba Inu (SHIB) dipped around 5.45 per cent, as per data from Coinmarketcap.com.

After a bounce-back on November 12, the prices of top cryptocurrencies fell on November 13. The world’s biggest cryptocurrency by market cap, Bitcoin (BTC), was trading at around $63,689.59, while the price of Ethereum (ETH), the second-biggest cryptocurrency, was at around $4,624.16, at 11:24 am, according to data from the cryptocurrency exchange Coinmarketcap.com.

 Bitcoin has witnessed a fall of around 1.68 per cent in the last 24 hours, while ETH has dropped by around 2.53 per cent over the same period.

 In India, the cryptocurrency stakeholders are looking forward to the meeting with the Parliamentary Standing Committee on Finance on November 15. The committee has called cryptocurrency associations and industry experts for a meeting on ‘CryptoFinance: Opportunities and Challenges’.

 Binance Coin (BNB) held the third position by market cap. It was trading at $621.40 at 11:24 am. It witnessed a fall of around 1.29 per cent in the last 24 hours. Tether (USDT) came fourth with a price of $1.00, as on 10 am on November 12, with a rise of around 0.06 per cent in the last 24 hours, according to Coinmarketcap.com. Solana (SOL) and Cardano (ADA) were at the fifth and sixth positions by market cap like the day before.

 “The market might turn bullish next week after the implementation after the Taproot upgrade, which aims to offer improved privacy, security, and flexibility with smart contracts. According to Skew, Bitcoin's volatility has slowly declined from mid-2021 to a one-year low, currently and Ether may face a pullback, the coming week. Bitbns supports the Taproot upgrade and will take care of all the technical requirements of the users holding BTC with us. Trading with BTC will not be affected. Despite the market's downturn, the metaverse projects such as the Sandbox (SAND) and Decentraland (MANA) continue to rally and show no signs of slowing down,” says Gaurav Dahake, CEO and founder, Bitbns. Taproot, which is Bitcoin’s long-anticipated upgrade, will get activated this weekend.

 

Meme Coins

Meme coin Shiba Inu (SHIB) witnessed a fall of 5.45 per cent in prices in the last 24 hours and witnessed a setback, while Dogecoin (DOGE) has recorded a 2.31 per cent fall in the last 24 hours even after Elon Musk announced that Tesla will send a Doge-funded space mission to the moon.

Shiba Inu was trading at $0.00005122 and Dogecoin at $0.2553 at 11:24 am, according to data from Coinmarketcap.com.

 

Top NFT Collections

With a volume of 49.31 SOL, RowdyRex is at the top of the NFT (non-fungible token) collections list, even though it didn’t grow in the last 24 hours, as  at 11:24 am, as per Coinmarketcap.com.

Advertisement
Advertisement
Advertisement