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Cryptocurrency updates: Bitcoin below $60,000; Shiba Inu rises 74% in 24 hours

Cryptocurrency updates: Bitcoin below $60,000; Shiba Inu rises 74% in 24 hours

Cryptocurrency updates: Bitcoin below $60,000; Shiba Inu rises 74% in 24 hours
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By CNBCTV18.com Oct 28, 2021 9:41 AM IST (Published)

Bitcoin, the world's largest cryptocurrency, declined Wednesday to its lowest level in one and a half weeks. Here's a snapshot of the crypto market as of Thursday:

Bitcoin, the world's largest cryptocurrency, declined on Wednesday to its lowest level in one and a half weeks, as investors booked profits days after the coin hit a record high. However, the digital currency is still on track for the best month since February.

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Meanwhile, Ether, the number two digital coin, also followed Bitcoin as it declined 4 percent. Binance Coin lost 5 percent and Cardano slipped 8 percent. As Cardano lost ground, it also lost its number four position from the table and slipped to number 5.
Solana also plunged over 6 percent. And Ripple's XRP has declined nearly 10 percent. Polkadot lost over 8 percent
Dogecoin lost its number 10 position on the table as Shiba Inu surged over 73 percent to climb to number 9 rank. USD Coin has slipped to number 10 for now. Shiba Inu has risen 200 percent in the last seven days. Dogecoin, on the other hand, slipped over 8 percent.
A. Top 10 cryptocurrencies by market cap
CryptocurrencyCurrent market price24-hour change
Bitcoin$59,142-2.30%
Ether$4,016-4.05%
Binance Coin$456-5.15%
Tether$10.04%
Cardano$1.95-8.95%
Solana$190-6.20%
XRP$1.10-9.7%
Polkadot$41-8.29%
Shiba Inu$0.0000853374%
USD Coin$10.01%
On Thursday, the crypto market's total market cap - the barometer of the overall health of crypto market - declined nearly 4 percent to $2.47 trillion. Meanwhile, Bitcoin’s dominance in the market rose by over half a percent to 44.87 percent.
B. Top crypto news updates
El Salvador adds $25 million in bitcoin to state coffers
The Salvadoran government acquired 420 more bitcoin on Wednesday, President Nayib Bukele announced on social media, as it doubled down on its splashy cryptocurrency experiment. The latest purchase of bitcoin, worth nearly $25 million at current prices, marks the first government acquisition of the cryptocurrency since Sept. 20, when Bukele said it had bought 150 bitcoins.
US SEC will not greenlight leveraged bitcoin fund 
The US Securities and Exchange Commission (SEC) has asked at least one asset manager to scrap plans for a leveraged bitcoin exchange-traded fund, the Wall Street Journal reported Wednesday, citing a person familiar with the matter.
Elon Musk’s Tesla mulls accepting Bitcoin as payment for cars again
Cryptocurrency backer Elon Musk’s firm Tesla is likely to start accepting Bitcoin again in exchange for its products and services, the electric car company indicated. Read more
Ether may rise 22 percent by year-end
A panel of fintech specialists have predicted Ether, the number two coin, may hit $5,114 by the end of the year, rising over 22 percent from current levels, a report by coinmarketcap.com said.
C. Top traded coins
CryptocurrencyCurrent market price24-hour change
Shiba Inu$0.00008470%
XRP$1.01-9%
Solana$190-6%
D. Top 3 gainers
CryptocurrencyCurrent market price24-hour gain
Shiba Inu$0.00008470%
Curve DAO Token$5.4017%
Polygon$1.926%
E. Top 3 losers
CryptocurrencyCurrent market price24-hour loss
NuCypher$0.9047-18%
The Graph$0.9409-13%
Band Protocol$8.53-13%
(Data is sourced from coindesk.com)
(With inputs from agencies)
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