Even with the growing popularity, the top cryptocurrencies continue to face a downtrend in their valuation. The digital currency market was in the red on 11 July 2021. The global capitalization of the cryptocurrency market is $1.40 trillion which is a 0.98% reduction over the last day. The total volume of the crypto market on 11 July was $58.12 billion, which is a 21.23% decrease. In this article, we will discuss the top cryptocurrency price today and also cryptocurrency price in India.
Factors That Affect The Top Cryptocurrency Price Today
Digital currency is presently such a buzzword. They are highly fluctuating and we are well known about that. Our feeds are always alerting us about the increase and decrease of the crypto values. This builds a generalized idea in our mind that cryptocurrencies are interesting but are a complex and tricky market. Let us look at how the prices of cryptocurrencies get affected. Just like any other currency, digital currencies obtain their value on the basis of the amount of community involvement that includes scarcity, the demand of the users, or the utility of the crypto. So let us look at these factors in detail.
To increase the value of a digital currency, one needs to increase its utility. Cryptocurrencies are generally a manifestation of availing the blockchain technology. So to increase the utility of any crypto, one needs to make it usable with a blockchain scenario.
Scarcity of cryptocurrency
The scarcity of digital currencies implies the finite nature of digital currencies and coins. In an ideal scenario, the demand for cryptocurrencies should exceed the supply. For instance, let’s take Bitcoin. We all know that Bitcoin is finite in number, that is it has 21 million coins. As more new coins are mined and brought into blockchain circulation, the demand for the same increases pushing their values higher.
Top Cryptocurrency Price Today
After another weekend of drastic price swings, the crypto market has changed to being skeptical. The sell off in the major digital currencies has pierced the sentiments of other cryptos as well. According to a report by the “Bank For International Settlements,” the cryptocurrencies of the central banks will complement digital currencies rather than being in a competition with them.
ZebPay Trade Desk asserted,
“More often than not, BTC’s bullish stance is not in tandem with most altcoins, in a larger more general sense. This has become a rather common occurrence, and a pattern has started to emerge to some extent. Altcoins will tend to pull back during a BTC rally, and after BTC stabilizes, an altcoin uptrend starts, and gradually gains momentum.”
Now let us have a look at the top cryptocurrency price today like that of Ethereum Price USD, and other digital currencies that will allow you to decide better on which cryptocurrency to buy and which cryptocurrency to invest in.
Here is the global cryptocurrency price list today:
- Bitcoin Price $38,870.86, down by 2.93 %
- Ethereum Price: $2,434.01, down by 3.56 %
- Tether Price: $1.00, down by 0.02 %
- Binance Coin Price: $356.84, down by 0.98 %
- Cardano Price: $1.53, down by 0.72 %
- Dogecoin Price: $0.314, down by 0.69 %
- XRP Price: $0.8573, down by 0.93 %
- USD Coin Price: $1, down by 0.03 %
- Polkadot Price: $23.63, down by 0.73 %
- Uniswap Price: $22.75, down by 2.27 %
Here is the cryptocurrency list price in India. Let us have a look at these as well:
- Bitcoin: ₹ 24,65,844, down by 3.57%
- Ethereum: ₹ 1,50,987 down by 5.73%
- Tether: ₹ 74.49, down by 0.01%
- Cardano: ₹ 97.20, down by 3.60%
- Ripple: ₹46.77%, down by 3.52%
- Dogecoin: ₹ 15.22, down by 5.23%
- Polkadot: ₹ 1,104.83, down by 4.52%
- Uniswap: ₹ 4,450.48, down by 7.58%
- Bitcoin Cash: ₹ 35,901 down by 4.97%
- Litecoin: ₹ 9,937.71, down by 2.11%
Bitcoin and other digital currencies are considered as highly fluctuating. But being a tech giant, the people who are interested in it continue to show their inclination towards digital currencies. The top c cryptocurrency price today is seeing a downtrend, but with increased demand, it can be expected to see an increase in the valuation of these cryptocurrencies.
Frequently Asked Questions On Top Cryptocurrency Price Today
Top cryptocurrencies to invest in 2021 are Bitcoin, Ethereum, NEO, EOS, and Ripple.
Despite the downtrend, the best crypto exchanges for 2021 are Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance Coin (BNB), and Cardano (ADA).
Bitcoin is the first cryptocurrency and it continues to be the go-to leader of the space. With an even decrease in valuation, Bitcoin still remains at the top and is the most widely recognized digital currency in the world.