Cryptocurrency update: Bitcoin, Ether and other other cryptos see fall in value; Binance Coin, Solana rise


Cryptocurrency prices saw a mix of loss and profit on the morning of Friday, 5 November. The global cryptocurrency market saw a fall of 0.57 percent to $2.73 trillion while the total crypto market volume in the last 24 hours fell to $138.36 billion, marking a decline of 5.76 percent.

The price of Bitcoin in the last 24-hours fell by 0.65 percent to $62,277.17, till 10 am on 5 November. The digital token has seen its value rise by 114 percent this year, and hit a record high of $67,000 in October. The value of the digital currency has increased amid waning concerns about China cracking down on the digital-asset space, and other issues.

Ethereum, the second-largest cryptocurrency, also fell by 0.63 percent to $4,544.98 in the last 24 hours. The value of digital currency has risen 3.89 percent in the last seven days.

The value of Dogecoin fell by 2.40 percent to $0.2628 in the last 24 hours. The value of the currency has declined by 11.47 percent in the last seven days. The value of Shibu Ina saw a sharp decrease, falling over 18.51 percent to $0.00004845. The currency has seen its value fall by 24.01 percent in the past week.

Tether rose by 0.03 percent to $1.00 in the last 24-hours, signifying a rise of 0.11 percent in the value of the digital token the past week.

However, Cardano fell by 1.78 percent to $2.01, falling by 0.20 percent in its value in the last week. The digital currency XRP also fell by 3.32 percent today to $1.20. However, the currency has seen a rise of 10.89 percent in its value over the past week.

Solana rose by 0.47 percent to $242.54, witnessing a rise of 20.34 percent in its value in the past seven days. Binance Coin rose by 4.59 percent to $585.07 this morning.

The rising instances of adoption of digital tokens by banks, launch of bitcoin-futures-base exchange-traded funds (ETFs), and growth of non-fungible tokens on virtual gaming platforms, have seen several cryptocurrencies, including Bitcoin and Ethereum, rise higher since the month of October.

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