Cryptocurrency prices today plummeted with the world's largest and most popular digital token by market capitalization and continued to decline to trade below the $ 47,000 level. The price of Bitcoin today is down almost 2% to $ 46,195. The digital token is up 0.6% in the last three sessions.
Ether, the currency linked to ethereum blockchain and the second largest cryptocurrency, also plunged nearly 2% to $ 3,751, according to CoinDesk. On the other hand, Dogecoin prices also fell more than 2% to $ 0.17 while Shiba Inu fell 3% to $ 0.000033. Meanwhile, Binance Coin declined almost 4% to $ 509.
The performance of other digital tokens such as Solana, Cardano, Polygon, Stellar were traded with cuts, while Uniswap, Tether gained in the last 24 hours. Global cryptocurrency market capitalization, led by the cryptocurrency crash, fell more than 2% to $ 2.34 trillion, according to CoinGecko.
Overall, cryptocurrencies ended 2021 on a sour note. Bitcoin fell about 19% in December, one of its worst months of the year. The cryptocurrency surged 60% in 2021 and hit a record high of close to $ 69,000 in early November, after which it has had a rough time since hitting an all-time high.
The total value of cryptocurrencies more than tripled at its peak in 2021, reaching $ 2.98 trillion from less than $ 1 trillion in January, according to CoinMarketCap.
The Bloomberg Galaxy Crypto Index, which tracks some of the largest currencies, lost about 23% in that period. Many analysts say that in the future, cryptocurrency prices are likely to rebound.
(With inputs from agencies)
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