Cryptocurrency prices today: Bitcoin, Ether fail to gain momentum as trade volumes remain low

Cryptocurrency prices failed to gain momentum over the past 24 hours due to low trading volume. Only a few smaller virtual currencies managed to gain slightly, but the overall crypto market remains within range.

Bitcoin, the world's most popular cryptocurrency, was trading at $ 48,984.87 or 0.65% lower than its price 24 hours ago at 1:50 pm. The market capitalization of Bitcoin stood at $ 926 billion. The volume of operations in the last 24 hours was 878.14 million.

Ether, the native token of the Ethereum platform, was trading just above $ 4,000 or 0.97 percent lower than its price 24 hours ago. Ether's market capitalization was $ 471 billion and the 24-hour trade volume was $ 851.38 million.

There has been a drop in the trading volumes of the most popular cryptocurrencies after a huge wave of earnings bookings last week. All the other smaller cryptocurrencies are also trading in negative territory, leaving only a few that won.

Commenting on the weak momentum of the past 24 hours, Edul Patel, CEO and co-founder of Mudrex, a crypto investment platform based on global algorithms, said that Bitcoin's dominance increased more than 41 percent despite low trade volumes. . However, most of the other major cryptocurrencies remain within range.

“During the last 24 hours, the volumes traded were low and yet the dominance of Bitcoin increased by more than 41%. Most of the other top cryptocurrencies remained within range, ”he said.

"The cryptocurrency market does not have a clear directional momentum at the moment," he added.

Here are the latest prices and trends for popular cryptocurrencies:

DISCLAIMER: Cryptocurrency prices were updated at 12:30 pm and will change as the day progresses. The list is intended to give a rough idea about popular cryptocurrency trends and will be updated daily.