Cryptocurrency prices fell on Tuesday, with bitcoin and ether both down around 2%. Shiba Inu, a meme-based token, plunged 8%. Here’s a look at the prices of the top 5 cryptocurrencies by market capitalization as of 3:15 p.m. ET: Bitcoin (BTC) — $39,196.73 (-2.03%) Ethereum (ETH) — $2,614.78 (-2.17%) Binance Coin (BNB) — $340.02 (-0.88%) Tether (USDT) — $1.00 (-0.01%) Cardano (ADA) — $1.47 (-3.09%) Bitcoin and ether have both struggled to gain traction in recent days amid a broad sell-off in the cryptocurrency market. Prices had been on the rise in early 2021 as investors bet on more mainstream adoption of digital assets, but a series of negative headlines has sent prices tumbling in recent weeks.
Bitcoin Prices Today
The cryptocurrency market is seeing red today, with bitcoin and ether both down over 5%. Shiba Inu, the meme-based cryptocurrency, is down even more, plunging over 10%.
This comes after a weekend of volatile trading for bitcoin, which saw the price surge to nearly $40,000 only to fall back below $30,000. Ethereum has also been volatile in recent days, swinging between $1,000 and $1,200.
Shiba Inu has been one of the biggest beneficiaries of the recent crypto craze. The token surged from around $0.00005 on May 1 to highs of $0.000005 on May 8, a gain of over 900%. However, the token has given up most of those gains in the past 24 hours.
Ethereum Prices Today
1. Ethereum prices today
The second-largest cryptocurrency by market capitalization is down over 6% in the last 24 hours.
At press time, ether (ETH) is trading at around $2,315, having hit an intraday high of $2,427 earlier today. On the week, ETH is up around 1%.
The sell-off in ETH comes as bitcoin (BTC) also slips below $40,000 again after briefly reclaiming that level earlier today. BTC is currently down over 4% on the day to around $38,600.
The overall cryptocurrency market capitalization is now at $1.47 trillion, according to CoinGecko.
Shiba Inu Prices Today
Today, the prices of Bitcoin and ether continue to fall, with Bitcoin currently sitting at around $11,700 and ether at $1,480. However, the biggest loser today is Shiba Inu, which has plunged by over 20% to $0.000038.
This comes after a weekend of heavy losses for the cryptocurrency market, with Bitcoin falling by around 8% and ether by around 12%. Shiba Inu had also been on a downward trend in recent days, losing around 10% since last Wednesday.
It’s been a tough few weeks for cryptocurrencies, with prices tumbling across the board. However, Shiba Inu has been one of the hardest hit, losing over 50% since its all-time high just two weeks ago.
The reason for this latest drop is unclear, but it seems that selling pressure is still high and there’s no real buying interest at these levels. This could mean that we could see further losses in the short-term before prices find some stability.