In cryptocurrency, Bitcoin price is trading higher today above the $63,000 mark. The world’s largest cryptocurrency by market capitalization rose more than 3% to $63,232.8. By far the most popular digital token is up 117% this year (Y-to-date) after hitting a record high of nearly $67,000 in October.
Ether, the coin and the second largest crypto tied to the Ethereum blockchain, also rose more than 6% to $4,619, according to CoinDesk. Cardano was trading slightly higher at $1.96, while Dogecoin gained 1% to $0.27. Other digital tokens such as XRP, Solana, Stellar, Uniswap, Litecoin, Polkadot were also trading with gains in the last 24 hours. The Shiba Inu, which has been on a record rally for the past few sessions, fell more than 2% to $0.000006816.
Bitcoin futures exchange-traded funds (ETFs) failed to see much action as inflows into crypto funds dropped more than 80% to $288 million last week, according to digital asset manager CoinShares. For the week ended October 29, inflows into bitcoin ETFs cooled with just $53 million from US investors last week.
Bitcoin has more than quadrupled over the past year and reached a record $67,000 last month amid optimism around the launch of bitcoin futures-backed exchange-traded funds in the US, and China’s crackdown on the digital-asset space such as Reduces concerns about issues.
Meanwhile, Ethereum broke its three-week dry spell last week with total inflows of $17 million, with year-on-year inflows now totaling $1 million. Other altcoins saw inflows such as Solana, Cardano and Polkadot, which saw total inflows of $15 million, $5 million and $6.2 million respectively.
(with inputs from agencies)
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