World’s largest cryptocurrency Bitcoin was trading lower today. The price of Bitcoin slipped 3.61% to $55,488 on Coinmarketcap. Market cap of the cryptocurrency reached $1,042.65 billion.
Currently, the global crypto market cap stands at $2.28 trillion, a fall of 1.92%. Other cryptocurrencies were trading on a mixed note today. Ethereum lost 1.19% to $3,469 and Dogecoin was trading 1.67% lower at $0.2248.
Digital token Stellar rose 0.53% to $0.3390 and XRP declined 1.01% to $1.09. Litecoin slipped 2.69% to $169.97 and Uniswap was trading 5.02% higher at $24.68.
Of late, crypto prices have risen on the back of comments from billionaire Elon Musk and Ark Investment Management LLC’s Cathie Wood.
In late July, Elon Musk said Tesla was “most likely” to start accepting bitcoin as payment again. The comment helped the cryptocurrency race past the $30,000 level.
The electric carmaker said in May that it would no longer accept the cryptocurrency for purchases. It’s been a wild ride for bitcoin the last three years.
The digital currency made its big Wall Street debut in December 2017, when the major futures exchanges rolled out Bitcoin futures. The attention drove Bitcoin to roughly $19,300, a then-unheard of price for the currency.