cryptocurrencies Bitcoin, Ethereum, DogeCoin, Ripple, and Litecoin representations are seen (REUTERS)

In cryptocurrencies, Bitcoin prices today were trading above the $51,000 mark as the world’s largest cryptocurrency by market capitalization surged over 6% to $51,101. Bitcoin, famed for its volatility, has shed more than $18,000 since hitting a record in early November, but it’s still up more than 75% this year (year-to-date or YTD) so far. 

Meanwhile, Ether, the coin linked to ethereum blockchain and the second largest cryptocurrency, also surged over 4% to $4,114. On the other hand, Dogecoin prices rose more than 7% to $0.18 whereas Shiba Inu rallied nearly 15% to $0.000040. 

Other digital tokens such as Cardano, Solana, Binance Coin, Stellar, Uniswap, Polkadot were also trading with decent gains over the last 24 hours. Meanwhile, global crypto market cap rose over 5% to $2.52 trillion, as per CoinGecko. 

Bitcoin, the most popular digital token had fallen about 30% over the past five weeks after setting a record high of almost $69,000 in early November. News that central banks around the globe are considering tighter monetary policy had weighed on risk appetite over the last few weeks.

In another news, The US Securities and Exchange Commission vetoed two proposals to offer bitcoin exchange-traded funds (ETFs), dealing a blow to market participants who had hoped the agency would green light the effort after approving futures-backed bitcoin funds in October.

(With inputs from agencies)

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