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Crypto Price Today: Bitcoin falls but holds above 27k, Ethereum, other tokens gain
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Crypto Price Today: Bitcoin falls but holds above 27k, Ethereum, other tokens gain
May 16, 2023 10:56 PM

Bitcoin | The world's largest and most popular virtual currency, Bitcoin, fell 0.2 percent to $27,139.7. Its market value stood at $524.5 billion. The trade volume was at $12.5 billion.

"According to Kaiko, a cryptocurrency data provider, the correlation between Bitcoin and Ethereum prices has reached its lowest point since 2021, standing at 77%. This declining correlation can potentially enhance trading activity within Bitcoin and Ethereum pairs going forward," said Edul Patel of Mudrex.

Ethereum | The second largest virtual currency, Ethererum or Ether, was up 0.9 percent at $1,830.3 at the last count, with a market capitalisation of $219 billion. The trade volume of Ethereum was $5.4 billion in the last 24 hours.

"A higher debt ceiling benefits risk assets, safeguarding wealth for market participants in the current macroeconomic landscape," said Rajagopal Menon, Vice President, WazirX.

Dogecoin | Meme-based virtual currency, Dogecoin, rose 2.2 percent on Wednesday. Its market value stood at $10.2 billion. The trade volume was at $185.3 million.

Solana | Solana gained 0.8 percent to $21 with a market capitalisation of $8.3 billion. The trade volume of Solana was $279.9 million in the last 24 hours.

Shiba Inu | Shiba Inu rose 0.8 percent with a market capitalisation of $5.2 billion. The trade volume was $89.8 million in the last 24 hours.

Polygon | Polygon rose 0.3 percent to $0.9 with a market capitalisation of $7.9 billion. The trade volume was $354.2 million in the last 24 hours.

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