Cryptocurrency prices today gain as Bitcoin, ether, dogecoin, Shiba Inu surge

Cryptocurrency prices today gained with Bitcoin trading above $47,000 mark. The world's most popular and largest cryptocurrency by market capitalization surged over 1% to $47,217. Global crypto market capitalization also rose more than 1% to $2.34 trillion, as per CoinGecko.

Ether, the coin linked to ethereum blockchain and the second largest cryptocurrency, was trading over 2% higher at $3,717, as per CoinDesk. On the other hand, Dogecoin prices also gained 1.5% to $0.17 whereas Shiba Inu was up 1% to $0.000034. Meanwhile, Binance Coin was marginally higher at $515.

Performance of other digital tokens such as Solana, Uniswap, Cardano, Polygon, Litecoin, Terra, XRP, Polkadot, Stellar also improved as they were trading with gains over the last 24 hours. 

Bitcoin is up 62% in 2021 whereas the second largest digital token, Ether has surged more than 400% during the said period. Tuesday. Bitcoin, famed for its volatility, has shed more than $21,000 since hitting a record in early November.

Ether has outperformed Bitcoin from the adoption of blockchain technology by financial technology companies, and perhaps more notably the popularity of non-fungible tokens (NFTs) in the art and gaming worlds. Measuring Ether’s outperformance over Bitcoin while taking volatility into account, shows it’s value has risen to levels last seen in the summer of 2018.

Cryptocurrency prices went on another roller coaster this past year, surging, plunging and then cycling again. El Salvador became the first country to make Bitcoin legal tender this year whereas the first exchange-traded fund tied to Bitcoin futures also began to trade.

(With inputs from agencies)