Crypto market update: BTC holds at $57,000

Bitcoin and the two stablecoins are the only cryptos up today out of the top 10

Illustration of gold and white bitcoins rocketing into the sky                                 
Bitcoin illustration – Photo: Shutterstock
                                

The price of bitcoin (BTC) ended yesterday on $57,494 after rising by 5.14% on the day, according to Currency.com. The lead cryptocurrency price now is $57,499.

However, the volume of BTC has fallen by 3.10% over the past 24 hours. Three out of the top ten cryptos are up today on CoinMarketCap, with BTC up by 2.05%.  

The other two cryptos up today are the stablecoins tether (USDT) and USD coin (USDC). USDT is up by 0.06% but remains priced at $1, with USDC up by 0.04% to $1 as well.

Ethereum (ETH) is down by 3.26% to $3,495, with cardano (ADA) down by 4.88% to $2.13. Binance coin (BNB) is also down by 3.70% to $405.51.

Ripple (XRP) is down by 5.79% to $1.11 and dogecoin (DOGE) is down by 4.74% to $0.22.

Biggest risers     

The biggest riser of the day is revain (REV), which has risen by 13.70% to $0.019. REV, as CoinMarketCap describes it, is “an online platform for Ethereum blockchain-based tokens reviews, designed to allow developers to receive constructive feedback about their projects”.

The second-biggest riser of the day is shiba inu (SHIB) by 13.10% to $0.00003103. According to CoinMarketCap, SHIB “is the ’DOGECOIN KILLER’ and will be listed on their own ShibaSwap, a decentralised exchange.

The third-biggest riser of the day is waves (WAVES), by 9.62% to $29.54. CoinMarketCap states that WAVES “is a multi-purpose blockchain platform which supports various use of cases including decentralised applications (DApps) and smart contracts.”

Biggest fallers

Arweave (AR) is the biggest faller of the day, dropping by 12.94% to $54.66. AR is described by CoinMarketCap as “a decentralised storage network that seeks to offer a platform for the indefinite storage of data”.

The second-biggest faller of the day is ren (REN), falling by 12.78% to $0.97. According to CoinMarketCap, REN is “an open protocol built to provide interoperability and liquidity between different blockchain platforms”.

The third-biggest faller of the day is IOTA (MIOTA), which has dropped by11.01% to $1.33. MIOTA is a “distributed ledger with one big difference: it isn’t actually a blockchain. Instead, its proprietary technology is known as Tangle, a system of nodes that confirm transactions,” according to CoinMarketCap.

All prices were correct Tuesday (12 October) as of late morning.

Further reading: Crypto market update: Bitcoin rises to new five-month high

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