Daily Times

The cryptocurrency market turned to profit taking on Thursday after remaining positive for three days in a row, with the market capitalisation shedding 1.1 percent to reach $2.84 trillion as of 1235 hours GMT.

Bitcoin, the largest cryptocurrency, went down 1.64 percent to reach $61,680. With this decrease in price, the market capitalisation of the biggest cryptocurrency has reached 1.161 trillion. Bitcoin hit one-week highs of $63,400 on Tuesday last.

Ether (ETH) price, which set up a new high at $4,680 on Wednesday, inched down by 0.27 percent to reach $4,527. With this decrease in price, the market capitalisation of ETH has reached $531.3 billion.

However, XRP price increased by 2.64 percent to reach $1.20. The market capitalisation of XRP stands at $119.7 billion after this increase.

On the other hand, cardano (ADA) price dipped by 2.02 percent to reach $2.02. Its market capitalisation has reached $65.6 billion with this decrease.

On the other hand, dogecoin (DOGE) edged down by 2.12 percent to reach $0.263. With this decrease in price, the market capitalisation of doge has reached $34.6 billion.

According to experts, ether price has been showing strength while the big crypto, bitcoin, takes a backseat. This development has allowed ETH to set up a new all-time high. Although this upswing is slow, things will change soon as the smart contract token is likely to shed the weight on a minor retracement before blasting off to new psychological levels, they opined.