1 min read.Updated: 25 Oct 2021, 07:20 AM ISTLivemint
Bitcoin price has declined from its all-time high level hit last week after the debut of the first US bitcoin futures exchange-traded fund
Listen to this article
In cryptocurrencies, Bitcoin prices today surged while other digital tokens were mixed. The world's largest cryptocurrency by market capitalization was trading over 1% higher at $62,112, as per CoinGecko. Though, the crypto has declined from its all-time high hit last week after the debut of the first US bitcoin futures exchange-traded fund.
Bitcoin had rallied to a record high of $66,974, the recent rally came after six-months from its previous top of $64,895, fueled by the debut of the ProShares Bitcoin Strategy ETF. The fund allows investors to speculate on the future value of bitcoin – without actually owning it. It is the first time investors have been able to trade an asset related to bitcoin on the New York Stock Exchange.
Ether, the coin linked to ethereum blockchain and the second largest crypto, slipped marginally to $4,138, as per CoinDesk. Cardano prices fell nearly 2% to $2.14 whereas dogecoin gained more than 8% to $0.27. Other digital tokens like Binance Coin, XRP, Uniswap, Litecoin were also trading with cuts over the last 24 hours, though, Solana surged whereas Shiba Inu was trading over 10% higher.
Shiba Inu soared to record highs over the weekend to become the 11th-biggest cryptocurrency by market value. SHIB was up 50% on Sunday and reached a record. Shiba Inu was founded in 2020 by an anonymous person going by the name Ryoshi, and the coin’s website refers to it as ‘a decentralized meme token that evolved into a vibrant ecosystem.’