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 the low volume of trade. Only a few smaller virtual coins managed to gain slightly, but the overall crypto market remains rangebound.

Bitcoin, the world’s most popular cryptocurrency, was trading at $48,984.87 or 0.65 per cent lower than its price 24 hours ago at 1:50 pm. The market capitalisation of Bitcoin stood at $926 billion. The trading volume over the past 24 hours was 878.14 million.

Ether, the native token on the Ethereum platform, was trading just above $4,000 or 0.97 per cent lower than its price 24 hours ago. The market capitalisation of Ether stood at $471 billion and the 24-hour trade volume was $851.38 million.

There has been a dip in the trade volumes of most popular cryptocurrencies after a major wave of profit booking last week. All other smaller cryptocurrencies are also trading in negative territory, leaving only a few which gained.

Commenting on the weak momentum over the past 24 hours, Edul Patel, CEO and Co-founder, Mudrex – A Global Algorithm Based Crypto Investment Platform, said Bitcoin’s dominance rose over 41 per cent despite low trade volumes. However, most other top cryptocurrencies remain range-bound.

“Over the past 24 hours, the traded volumes were low, and yet Bitcoin dominance rose over 41%. Most of the other top cryptos remained range-bound,” he said.

“The crypto market does not have a clear directional momentum at the moment,” he added.

Here are the latest prices and trends of popular cryptocurrencies:

DISCLAIMER: The cryptocurrency prices have been updated as of 12:30 pm and will change as the day progresses. The list is intended to give a rough idea regarding popular cryptocurrency trends and will be updated daily.