Crypto market update: BTC climbs to $51,000

For the second day running, Shiba Inu is the biggest riser of the day

Stack of bitcoins                                 
Pile of bitcoins Photo: Shutterstock

The price of bitcoin (BTC) ended yesterday at $51,494 after rising by 4.56% on the day, according to The lead cryptocurrency price at the time of writing is $51,305.

The volume of BTC has increased by 11.77% over the past 24 hours. Out of the top 10 cryptos on CoinMarketCap today, five are up and five are down, with BTC up by 3.53%.

Ethereum (ETH) is up by 1.04% to $3,422 and dogecoin (DOGE) is up by 5.02% to $0.24.

Binance Coin (BNB) is down by 1.37% to $426 with cardano (ADA) down by 2.36% to $2.16 and ripple (XRP) is down by 1.91% to $1.03.

The stablecoin tether (USDT) is up by 0.10% to $1 after dropping yesterday below the $1 mark to $0.99.

Biggest risers

The biggest riser of the day is Shiba Inu (SHIB) by 55.95% to $0.00002, just as it was yesterday. According to CoinMarketCap, SHIB “is the ‘DOGECOIN KILLER’ and will be listed on their own ShibaSwap, a decentralised exchange.”

The second-biggest riser of the day is Siacoin (SC), which has risen by 8.31% to $0.018. SC, as CoinMarketCap describes it “is the native utility token of Sia, a blockchain-based distributed, decentralised cloud storage platform”.

The third-biggest riser of the day is XDC Network (XDC), by 3.96% to $0.13. CoinMarketCap states that XDC is a native coin that is the main source of power for the XinFin network “an enterprise-ready hybrid Blockchain technology company optimised for international trade and finance”.

Biggest fallers

OMG Network (OMG) is the biggest faller of the day, dropping by 15.09% to $14.09. OMG Network is described by CoinMarketCap as “a non-custodial, layer-2 scaling solution built for the Ethereum blockchain”.

The second-biggest faller of the day is dYdX (DYDX), dropping by 13.61% to $20.66. According to CoinMarketCap, DYDX “is a governance token that allows the dYdX community to truly govern the dYdX Layer 2 Protocol.”

The third-biggest faller of the day is Tezos (XTZ) which has dropped by 13.59% to $7.28. XTZ “is a blockchain network that’s based on smart contracts, in a way that’s not too dissimilar to ethereum”, according to CoinMarketCap.

All prices were correct today (Wednesday 6 October) as of 10:17 BST (UTC +1).

Bitcoin to US Dollar
Daily change
Low: 58480.6
High: 62018.1

Further reading: Crypto market update: BTC rises to $49,000

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