Daily Times

The cryptocurrency market edged lower for the second straight day on Friday, with the market capitalisation shedding 0.2 percent to reach $2.84 trillion as of 1250 hours GMT. Bitcoin, the largest cryptocurrency, went slightly down by 0.38 percent to reach $61,489. With this decrease in price, the market capitalisation of the biggest cryptocurrency has reached 1.158 trillion. Bitcoin hit one-week highs of $63,400 on Tuesday last.

Similarly, ether (ETH) price, which set up a new high at $4,680 on Wednesday, inched down by 0.81 percent to reach $4,493. With this decrease in price, the market capitalisation of ETH has reached $527.3 billion.

Likewise, XRP price decreased by 2.53 percent to reach $1.17. The market capitalisation of XRP stands at $116.7 billion after this decrease. On the other hand, cardano (ADA) price dipped by 1.45 percent to reach $1.99. Its market capitalisation has reached $64.5 billion with this decrease.

Following the market mood, dogecoin (DOGE) edged down by 0.84 percent to reach $0.261. With this decrease in price, the market capitalisation of doge has reached $34.3 billion. Meanwhile, New York Mayor-elect Eric Adams announced plans to take his first three pay cheques in bitcoin, saying that he would make his city the “centre of the cryptocurrency industry.”

“In New York we always go big, so I’m going to take my first THREE pay cheques in bitcoin when I become mayor,” Adams posted on his Twitter account. “NYC is going to be the centre of the cryptocurrency industry and other fast-growing, innovative industries! Just wait!”

The tweet, which comes two months before the mayor-elect takes office, was a response to Miami Mayor Francis Suarez, who posted a similar message on November 2, saying that his next pay cheque would be 100pc in bitcoin. Suarez, who won re-election earlier this week, has been a cryptocurrency champion. The Miami-born Democrat had previously set his sights on building the city into a hub for cryptocurrency innovation.