Dogecoin has staged a recovery in the last 24 hours, climbing 20% in value while the major coins fell again.
At the time of writing (7am), Bitcoin (BTC) was down almost 3% to drop under $50,000. It is down 11% on this time last week.
The continued fall has been blamed on a tweet from Tesla entrepreneur Elon Musk. He said the electric car company, which began accepting bitcoin as payment for cars in March – driving a 20% increase in the cryptocurrency’s value – has decided to drop the currency over environmental concerns over the amount of energy required to mine bitcoin.
Tesla is continuing to hold its $1.5 billion of bitcoin and will use the digital currency when mining transitions are moved to more sustainable energy sources.
Musk also tweeted that he was “working with Doge devs to improve system transaction efficiency. Potentially promising” – causing DOGE to rise to 53 cents.
The coin, created as a joke and based on a meme, had dropped to 45c yesterday and is down 9% on its position seven days ago. It is the fourth most valuable coin by market cap after Musk’s famous support.
Ripple’s XRP coin fell 2% to $1.35, and has lost 14% of its value in a week.
Ethereum (ETH) suffered another uncharacteristic drop of 4% to $3,851, but remains 12% higher than this time last Friday.
Litecoin (LTC) is down 4% in value in 24 hours to around $317. The altcoin – billed a lighter and faster version of Bitcoin – is worth 9% less than a week ago.
Ether’s sibling Ethereum Classic (ETC), which last week hit a record $177 recently, is now at $89, down 5% on Thursday morning’s position.
https://businesscloud.co.uk/the-future-of-crypto-and-creating-a-fairer-financial-ecosystem/
The biggest climbers were Hedera Hashgraph (HBAR), up 37% to 37c; Arweave (AR), which climbed 25% to $38.30; and Bitcoin Diamond (BCD), up 23% to $6.60.
Revain (REV) saw the most dramatic fall, down 17%, but remains double its price a week ago.
To see how the valuations of the biggest movers and shakers – and main coins – have changed over the last few days, click here.
For up-to-the-minute valuations of the top 100 coins by market cap, and the one-hour price change, see below.
To see the Crypto Rich List, the world’s richest people in cryptocurrency, scroll down to the bottom of the page.
https://businesscloud.co.uk/the-crypto-rich-list-who-are-the-worlds-richest-people-in-cryptocurrency/
Cryptocurrency