Both Bitcoin and Ethereum remain about 35% below all-time highs seen in November, although just last month they were both trading at six-month lows an
Both Bitcoin and Ethereum remain about 35% below all-time highs seen in November, although just last month they were both trading at six-month lows and half the value of their all-time highs.
Bitcoin traded on the back foot in Friday morning’s early deals as investors failed to keep the momentum from the last week.
Much like many of the heavy sell-off days in January, most of the leading digital currencies were trading in negative territory, with Bitcoin slipping 1.5% to US$43,397.
Prior to today and Thursday, the world’s leading cryptocurrency notched up its longest rally since September as speculation that Russia’s government and central bank will begin to accept crypto as legal tender consolidated investors’ recent positivity surrounding crypto.
READ Russia and its central bank to treat Bitcoin as currency, report
Meanwhile, its closest rival in terms of market value, Ethereum fell 2.9% to US$3,097.
Both remain about 35% below all-time highs seen in November, although just last month they were both trading at six-month lows and half the value of their all-time highs.
Alt-coins XRP, Solana, and Terra eased 5.6%, 5.8%, and 4.6% respectively.
Further down the pecking order, Polkadot, Polygon, and Near Protocol lost 5.7%, 5.7% and 5.5% in value respectively.
Meanwhile, doggy meme-coins Dogecoin and Shiba Inu slid 2.8% and 4.5%.
Overall, 85 of the top 100 cryptos were trading in negative territory.
Notable in bucking the trend was Theta Network, which surged 23%, while on much less of a rampage, Ethereum Classic advanced 6.0%.
www.proactiveinvestors.com