World’s largest cryptocurrency Bitcoin was trading lower today. The price of Bitcoin fell 2.65% to $57,156 on Coinmarketcap. Market cap of the cryptocurrency slipped to $1,079 billion.
Currently, the global crypto market cap stands at $2.56 trillion, a loss of 2.74%. Other cryptocurrencies were trading in the red today.
Ethereum lost 4.29% to $4,173 and Dogecoin was trading 3.09% lower at $0.2221. Digital token Stellar slipped 2.68% to $0.33376 and Litecoin fell 4.57% to $213.89.
XRP declined 3.90% to $1.04 and Uniswap fell 3.95% to $20.95. Of late, crypto prices have risen on the back of comments from billionaire Elon Musk and Ark Investment Management LLC’s Cathie Wood.
In late July, Elon Musk said Tesla was “most likely” to start accepting bitcoin as payment again. The comment helped the cryptocurrency race past the $30,000 level.
The electric carmaker said in May that it would no longer accept the cryptocurrency for purchases. It’s been a wild ride for bitcoin the last three years.
The digital currency made its big Wall Street debut in December 2017, when the major futures exchanges rolled out Bitcoin futures. The attention drove Bitcoin to roughly $19,300, a then-unheard of price for the currency.