Cryptocurrency Prices Today
Do you want to know how the different cryptocurrencies performed today? This article will summarise the market movements so that you can get a clear idea of how prices have changed.
The markets overall have been positive, with a similar movement to recent times, depending on where you are looking, there are ups and downs for different coins. That being said, the major cryptocurrencies were up on trading, this has been attributed to investors taking aim towards more alternative coins, instead of the main heavy hitters. Of the top 10 cryptocurrencies, all of them were up much of today, with Cardano at the front of the pack, rising by 12 per cent.
If we take a wider view at the global crypto market cap, that shot over the $2.15 trillion point. As a percentage, that is 3.31 per cent up on the previous day. Despite this, the total crypto market volume took a negative turn of 5 per cent, dropping to $100.75 billion.
It has been a really solid 24 hours for the world of cryptocurrency. For many there has been huge relief when Bitcoin seemingly reversed the recent lean towards bearishness and rose past $50,000.
It seems as if countries within Asia are moving fastest on adopting cryptocurrency, with the rest of the world lagging behind them. So much so that recent research by Finder, a market research firm, has stated that Asia contains all the top 5 countries in terms of Bitcoin ownership.
Cryptocurrency Prices Today
What is cryptocurrency trading?
Like the stock market, you can trade cryptocurrencies. This process involves forming an opinion about how the price of a cryptocurrency is going to move, and either buying or selling that coin on an exchange.
Much like more traditional forms of trading, cryptocurrencies work as a CFD. This means you can trade the coins, without having to actually take ownership of them. Many terms have crossed over into the crypto trading world, with going long meaning you have brought with the idea that the value will increase, and selling short that you believe the price will drop.
To trade cryptocurrencies, you will have to be part of an exchange that will let you buy and sell the coins you want to trade. To do this, you will have to create an account for that exchange, place the amount of money you wish to spend to open a position, you will then store your cryptocurrency in a digital wallet up until the point where you want to close your position.
There can be a bit of learning to do when moving to a new exchange. This is because you will have to pick up the technology they use and make sure the data displayed makes complete sense to you.
How do the markets work?
Unlike more traditional markets, cryptocurrencies are decentralised markets. This means that there is no government or authority that creates, regulates, and backs them. In place of this are a network of computers. Between this network of computers a record of ownership is shared across multiple sites, all stored on a blockchain. When two people want to make a transaction between themselves, one of the people will send their cryptocurrency to the other’s digital wallet. The transaction is not finalised until the blockchain can verify it.
It is a hugely exciting time to be in the cryptocurrency world. Some of the biggest coins are continuing to grow, while a number of smaller coins are also being more widely adopted. What this means for the future is still not clear, but the increasing popularity of cryptocurrencies is certainly a good thing for the enthusiasts. It’s important to remember though that when trading cryptocurrencies, there are downturns as well as ups. A lot of money can be made through trading but equally a lot can be lost as well.
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