The value of cryptocurrency can change in the blink of an eye.
Sometimes this works in investors’ favor – over the past week all major digital coins have gained in value as the market climbed 4.9% – known as the crypto “bull run”.
Specifically, Bitcoin surged to over $ 50,000, while its rivals made big gains.
Read more: What is bitcoin and how does it work?
Cryptocurrencies are notoriously volatile , which makes it an unpredictable and unregulated investment. However, that hasn’t stopped cryptocurrency from becoming a more mainstream currency; PayPal recently announced that UK customers can now use the payment platform to buy, hold and sell cryptocurrencies, with investments starting at £ 1.
After tough May, June and July, August was a good month for cryptocurrency stocks.
Here’s what each cryptocurrency is worth today.
How much is Bitcoin worth now?
After experiencing a 5% increase in the past 24 hours, Bitcoin is currently worth $ 50,068.65, the highest since May 17 of this year, according to Coindesk.
Bitcoin has been a market leader for many years . As the success of his rivals threatens his dominance, he may soon gain new momentum thanks to high-level endorsement. A few days ago, Twitter co-founder and CEO Jack Dorsey announced his belief that Bitcoin would become the “native currency of the Internet”. The US billionaire has confirmed his intention to build a decentralized exchange for Bitcoin through his mysterious start-up TBD, a division of the Square payments company that he also owns.
What are the most notable changes?
Cardano, a public blockchain platform, led the market jump, rising 8% in 24 hours. His ADA token was only worth 18 cents at the start of 2021 and is now worth $ 3.08.
Following this recent rise, Ada is now the third largest cryptocurrency, behind Bitcoin and Ether. The jump coincides with secret updates for Cardano which are expected later in September.
Two new cryptocurrencies, called Solana and Fantom, also recorded huge price spikes. Since its launch in March 2020, the fast and scalable Solana has consolidated itself as the most attractive blockchain at the moment. Its native token, SOL, has seen a staggering 72% increase in the past seven days, placing it in the top ten crypto list.
Solana is still behind Ethereum, whose ETH token is the second most valuable crypto in the world. It has increased by 20% since last Thursday.
Newcomer Polkadot, witnessing another solid 8.84% increase over the past day, while HEX, a currency launched on Ethereum in 2019, rose 49.69% last week.
Finally, there is Dogecoin. What started as a meme in 2013 is well established. It recently broke a horizontal drift to hit record highs, leading some investors to predict it would break its $ 0.30 stagnation to hit $ 1.