Cryptocurrency price story: Bitcoin, Ether down 5% as weakness grips virtual currencies

The world’s most popular virtual currency, Bitcoin, lost nearly 5 percent at 12:30 p.m. The value of the digital currency is down $ 3,000 after hitting 40,500 earlier this week. Bitcoin’s closest rival Ether is also down 5 percent from its value 24 hours ago and is currently trading below $ 2,400. Check the latest prices and trends.

Bitcoin has fallen in value after exceeding $ 40,000 earlier this week. (Photo: Reuters / Representative Image)

Cryptocurrencies traded weaker on Friday as the value of popular digital coins continued to decline after falling on Thursday.

The world’s most popular virtual currency, Bitcoin, lost nearly 5 percent at 12:30 p.m. The value of the digital currency is down $ 3,000 after hitting 40,500 earlier this week. Bitcoin’s closest rival Ether is also down 5 percent from its value 24 hours ago and is currently trading below $ 2,400.

All other popular cryptocurrencies such as Cardano, Dogecoin, Stellar, Polkadot, Chainlink and Litecoin were traded at least 3 percent weaker.

Cryptocurrency Highlights: Check Out Yesterday’s Prices and Trends

The new weakness in cryptocurrencies comes after online broker Futu Holdings said yesterday that it has restricted services related to CME cryptocurrency futures contracts in mainland China due to the regulatory environment.

“Futu has decided to restrict services related to CME crypto futures contracts in mainland China,” the company said in a statement.

A sharp surge in the valuation of the US dollar has currently also weakened the value of cryptocurrencies. The dollar has risen to a two-month high after the US Federal Reserve’s rate hike projection.

Another development that appears to have affected cryptocurrency prices is the decision by US regulators regarding Bitcoin ETF.

The Securities and Exchange Commission announced in a regulatory filing that it will seek additional public comments on a proposal to sell the product to Cboe Global Markets Inc.

The development has lifted sentiment from Bitcoin investors, who are frustrated by the agency’s reluctance to approve a Bitcoin ETF. They believe the move could help Bitcoin establish itself as a mainstream asset among institutional investors.

Here are the latest prices and trends for popular cryptocurrencies:

Cryptocurrency

Price (US dollars)

24 hour change

Market Capitalization (Billion)

Volume (24 hours)

Bitcoin

37,711.57

-4.06%

$ 706.61

$ 36.28 billion

ether

2,339.59

-4.67%

$ 272.21

$ 25.19 billion

Dogecoin

0.302713

-3.50%

$ 39.33

$ 1.65 billion

Litecoin

172.05

-1.59%

$ 11.68

$ 2.95 million

XRP (ripple)

0.839420

-2.26%

$ 83.97

$ 1.60 million

Cardano

1.48

-3.45%

$ 47.68

$ 5.41 million

DISCLAIMER: Cryptocurrency prices were updated at 12:55 PM and will change throughout the day. The list is intended to give a rough overview of popular cryptocurrency trends and is updated daily.)

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