Cryptocurrency prices fall; read Bitcoin, Ethereum, Cardano & other crypto rates on Oct 12

On October 12, cryptocurrency values remained primarily in the red. The worldwide cryptocurrency market cap is Rs 175.02 lakh crores, down 1.09% from the previous day, while the total crypto market volume is Rs 7,89,409 crores, up 7.92% in the last 24 hours. Bitcoin’s price is currently Rs 44,45,270, and its market share is 46.5%, up 0.93% from the previous day.

Except for Bitcoin, most cryptocurrency prices fell on Tuesday, with Solana, Ripple, and Polkadot each losing up to 3%. Bitcoin, the world’s largest cryptocurrency, was trading above $57,000 for the first time since May, after gaining nearly 1.5 % in the last 24 hours. Meanwhile, Ether was trading at $3,509, down 0.29% from its previous day’s pricing. In comparison to the previous day, the worldwide crypto market cap fell by 1% to $2.30 trillion. The total crypto market volume, on the other hand, increased by more than 7% to $105.63 billion.

Cryptocurrency Prices as per 12:15 pm today as per WazirX:

Bitcoin

US Dollar Price: 57,436.16
24-hour change: 1.34%
Market cap: $1.08 trillion
Volume: $1.28 billion

Ether

US Dollar Price: 3,502.68
24-hour change: -0.47%
Market cap: $411.15 billion
Volume: $722.79 million

Dogecoin

US Dollar Price: 0.225761
24-hour change: -4.04%
Market cap: $26.69 billion
Volume: $1.26 billion

Litecoin

US Dollar Price: 174.25
24-hour change: -4.01%
Market cap: $11.98 billion
Volume: $79.50 million

XRP

US Dollar Price: 1.10
24-hour change: -5.05%
Market cap: $110.07 billion
Volume: $4.77 billion

Cardano

US Dollar Price: 2.12
24-hour change: -4.57%
Market cap: $68.66 billion
Volume: $215.17 million

Cardano: A cryptocurrency on the rise by Ethereum’s founder

Cardano (ADA) is a decentralised, open-source blockchain with a proof-of-stake consensus algorithm. Charles Hoskinson, the co-founder of Ethereum, announced it as a blockchain that outperforms Ethereum’s proof of work (PoW) method. Ethereum, a second-generation blockchain, was created in response to the scalability concerns that plagued Bitcoin, a first-generation blockchain. Aside from completing financial transactions, Ethereum provides a higher level of programmability to its users. It gives developers access to the Ethereum blockchain, allowing them to experiment with code and create decentralised apps (DApps). Hoskinson departed Ethereum after a disagreement with Vitalik Buterin, another co-founder, over Hoskinson’s desire to turn Ethereum into a for-profit corporation, which Buterin refused to agree to. As a result, Cardano is classified as one of the ‘Ethereum-killers,’ a group of third-generation blockchains that aim to outperform Ethereum.