Cryptocurrency prices have rebounded on Friday after they traded weaker yesterday. While volatility still remains high, prices of most cryptocurrencies have gone up compared to their value 24 hours ago.
Bitcoin, the world’s most popular cryptocurrency, was trading just above $38,000 at around 9:25 am. However, it still struggles to cross $40,000 due to high uncertainty amid China’s crackdown on virtual coins.
It may be noted that the value of Bitcoin has dropped roughly 30 per cent this month due to China’s crackdown and concerns raised by Tesla’s Elon Musk over the environmental impact of mining the virtual coin.
Cryptocurrency highlights: Check Thursday’s prices
However, Musk has softened his stance regarding Bitcoin mining while Ark Invest CEO Cathie Wood said Bitcoin miners are gradually switching to renewable power sources like solar energy.
She said that it “will encourage an acceleration in the adoption of renewables beyond which otherwise would have taken the place”.
“We have not really been able to say that in a big way about solar, this dynamic might change that. So I’m actually quite excited about it,” Wood said at Coindesk’s Consensus 2021 conference.
Cathie Wood has been a big backer of Bitcoin and expects Bitcoin to soar to new highs soon. At the moment, however, Bitcoin and all other cryptocurrencies continue to face high uncertainty.
Ethereum (Ether), the second most popular, cryptocurrency also gained today after trading weaker on Thursday. At around 9:35 am, Ether was trading 2 per cent higher than its price 24 hours ago.
Other cryptocurrencies like Dogecoin, XRP, Cadano Stellar, Chainlink and Litecoin are also up on Friday following a marginal rebound.
Here are the latest prices and trends of popular cryptocurrencies:
|Cryptocurrency||Price (US Dollar)||
Market cap (Billion)
Volume (24 Hours)
|XRP (Ripple)||0.966849||1.05%||$96.68||$8.88 million|
(DISCLAIMER: The cryptocurrency prices have been updated as of 9:50 am and will change as the day progresses. The list is intended to give a rough idea about popular cryptocurrency trends and will be updated on a daily basis.)