The Bitcoin price on Sunday was trading in red at $ 48,102.46, up 0.67 per cent, however, the currency gained 11.34 per cent in the last one week. The market cap of the Bitcoin stood at $ 899.94 billion. The cryptocurrency market across the world was jittery as China imposed a blanket ban on cryptocurrency that led to a sharp fall across the cryptocurrency market. In addition to a ban imposed by China, the uncertainty that was triggered by the Evergrande’s crisis impacted the markets across the world. As a result of this crisis, the stock markets across the world tanked. The sentiment in regards to Bitcoin was upbeat as Federal Reserve Chairman Jerome Powell said the U.S. didn’t have plans to ban cryptocurrencies. There was no obvious catalyst for the move upward in the notoriously volatile digital currencies, which happened early Friday morning. Some traders pointed to Mr. Powell’s comments to the House Financial Services Committee on Thursday and to the start of the fourth quarter on Friday, when investors sometimes reset their portfolios.
The rival currency Ethereum was trading at $3,360.66, up 2.19 per cent and the currency was up 16.49 per cent over the last one week. The market cap of the virtual currency stood at $401.27 billion. On the other hand, other virtual currencies like Cardano and Binance Coin were trading in green, Cardano was up 0.25 per cent in the last 24 hours and 0.97 per cent in the last week, taking the market cap at $72.87 billion. The Binance Coin was up 1.66 per cent in the last 24 hours and 23.12 per cent in the last one week, the virtual currency on the last day of week was trading at $424.79.
The rapid growth of the crypto ecosystem presents new opportunities, the IMF has said but also cautioned that the digital currency assets pose financial stability challenges .Cryptocurrencies are digital or virtual currencies in which encryption techniques are used to regulate the generation of their units and verify the transfer of funds, operating independently of a central bank, the International Monetary Fund said.
The global crypto market cap is $2.10 trillion, a 0.46 per cent increase over the last day. The total crypto market volume over the last 24 hours is $96.51 billion, which makes a 17.57 per cent decrease. The total volume in DeFi is currently $15.26B, 15.81 per cent of the total crypto market 24-hour volume. The volume of all stable coins is now $75.87 billion, which is 78.62 per cent of the total crypto market 24-hour volume. Bitcoin’s dominance is currently 42.37 per cent, a decrease of 0.59 per cent over the day.
Here are the top cryptocurrencies and their prices on October 3, 2021 (data from coinmarketcap.com while publishing the article)
Bitcoin – $ 48,102.46 with a change of 0.67 per cent over the last 24 hours
Ether – $3,360.66, with a change of 2.19 per cent over the last 24 hours
Cardano – $2.23 with a change of 0.25 per cent over the last 24 hours
Binance Coin – $424.79with a change of 1.66 per cent over the last 24 hours
XRP – 0.9802 with a change of -8.18 per cent over the last 24 hours
Solana – 167.93 with a change of 4.55 per cent over the last 24 hours
Polkadot – $31.48 with a change of -2.73 per cent over the last 24 hours
Dogecoin – $0.2167 with a change of -2.55 per cent over the last 24 hours