Bitcoin trading prices today climbed above $47,000 for the first time. Bitcoin’s market capitalization increased by more than 1% to $47,217.
Furthermore, the market value of cryptocurrencies rose more than 1 percent to $2.34 trillion, according to CoinGecko.
Ether, the Ethereum-based cryptocurrency with the second highest market capitalization, was trading 2% higher at $3,717 as stated by CoinDesk.
Dogecoin rose by 1.5 percent to $0.17, and Shiba Inu increased by 1%. Meanwhile, Binance Coin rose to $515.
Other digital tokens, such as Solana, Uniswap, Cardano, Polygon, Litecoin, Terra, XRP, Polkadot, Stellar have also improved in terms of performance since they were trading with profits over the last 24 hours.
Bitcoin has increased by 62% in 2021, whereas Ether’s gains have been almost 400%. Since breaking a record in early November, Bitcoin has shed more than $21,000.
Ether has outperformed Bitcoin in the blockchain adoption by financial technology firms, and the usage of non-fungible tokens (NFTs) in the art and gaming industries.
When comparing the price of Ether to that of Bitcoin and taking volatility into account, it appears that its value has surpassed those seen in the summer of 2018.
Cryptocurrency prices experienced another wild ride in 2018, with prices soaring, plummeting, and then cycling again.
El Salvador was the first country to legalize Bitcoin as money. The first exchange-traded fund linked to Bitcoin futures began trading this year, becoming the first nation to do so.
