Cryptocurrency market update 4 May
What’s happening in the cryptocurrency markets with Bitcoin, Ether, Dogecoin, and Ripple?
Bitcoin remains the biggest and most valuable cryptocurrency on the market. The crypto is valued at around $55,550 a coin.
However, that is still somewhere below its price earlier today of around $56,300, with the rate having experienced a fair amount of turbulence recently. It was as high as $58,000 earlier this week.
On a growing trend
Ethereum’s ether has a current value of $3,416.80, down slightly from its earlier high of $3,496.
However, it is still showing an overall growth trend, and is up considerably from the $2,800 it was valued at the start of May.
In fact, it has reached an all-time high, and has made co-founder Vatalik Buterin a billionaire at the age of 27.
Litecoin is also doing well, at least in the short term. It is currently trading at $318.74, considerably more than the $35.36 it was at in late March.
It seems to be continuing to rise and, with the fiat’s well-earned reputation for stablity, it looks like it should not be going down too much in the short term.
The ongoing rise of Dogecoin continues, with the semi-parodic cryptocurrency still performing strongly at around $0.55.
It continues to rise, smashing past its previous high of around $0.31, which it reached in the middle of April. It does not appear to be going down, although it will be interesting to see whether a practical use can be found for it in the short term.
Stable for now
Meanwhile, Ripple’s XRP is continuing to trade at around $1.40. While this is down slightly from a high of around $1.50 last week, it remains stable and should not fluctuate too much, at least in the short term.
There is still some concern about the outcome of Ripple’s court case with the US Securities and Exchange Commission (SEC) which could have an impact on its price in the future.