Crypto market update: BTC recovers to $51,000

The two stablecoins are the only cryptos in the top 10 down today

Golden bitcoin coins on $100 bills background                                 
Bitcoin rallies after a difficult weekend – Photo: Alamy
                                

The price of bitcoin (BTC) ended yesterday at $50,511 after rising 2.07% during the day, according to Currency.com. The price of the lead cryptocurrency is now $51,468.

The volume of BTC has decreased by 5.90% over the past 24 hours. Meanwhile, eight out of the top 10 cryptos are up today on CoinMarketCap, with BTC up by 5.78%.

Ether (ETH) is up by 7.90% to $4,370, binance coin (BNB) is up 4.90% to $581, solana (SOL) is up by 8.92% to $198 and cardano (ADA) is also up by 8.95% to $1.42.

However, the two stablecoins in the crypto top 10 are both down. Tether (USDT) is down by 0.15% and has dropped below the $1 mark to $0.99, while USD Coin (USDC) is down by 0.19% and has also fallen below the $1 mark to $0.99.

Ripple (XRP) is up by 4.81% to $0.82 and dogecoin (DOGE) is up by 4.69% to $0.17. DOGE, in 11th place, has fallen out of the top 10 cryptos, having been overtaken by Terra (LUNA).

Biggest risers

The biggest riser of the day is Bitcoin SV (BSV), up by 36.16% to $161. CoinMarketCap says BSV “emerged following a hard fork of the Bitcoin Cash (BCH) blockchain in 2018, which had in turn forked from the BTC blockchain a year earlier”.

The second biggest riser of the day is Loopring (LRC), which has risen by 27.67% to $2.46. LRC “is the Ethereum-based cryptocurrency token of Loopring, an open protocol designed for the building of decentralised crypto exchanges”.

The third biggest riser of the day is Polygon (MATIC), increasing by 25.45% to $2.28. MATIC, CoinMarketCap explains, is “the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development”.

Biggest fallers

Huobi Token (HT) is the biggest faller of the day, dropping by 1.47% to $8.64. According to CoinMarketCap, HT “is the native token of the cryptocurrency exchange Huobi Global. It is a decentralised digital asset based on the Ethereum blockchain.”

The second biggest faller of the day is Waves (WAVES), having dropped by 1.52% to $19.22. CoinMarketCap says WAVES “is a multi-purpose blockchain platform which supports various use cases including decentralised applications (DApps) and smart contracts”.

The third biggest faller of the day is Celsius (CEL), having decreased by 0.27% to $3.72. CEL “is an all-in-one banking and financial services platform for cryptocurrency users,” states CoinMarketCap.

All prices correct as of 13:04 GMT on Tuesday 7 December.

Bitcoin to US Dollar
Daily change
35927.2
Low: 35872.4
High: 36743.7

Further reading:

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