• Tue. Jan 11th, 2022

    Cryptocurrency Prices Today: Bitcoin Breaks Through $ 56,000 Mark; Litecoin, Stellar, XRP increase up to 10.7%

    ByHazel R. Lang

    Oct 7, 2021

    The world’s largest cryptocurrency bitcoin broke the $ 56,000 mark for the first time in more than five months today. The rise in the price of bitcoin comes a day after the cryptocurrency broke above $ 50,000 for the first time in four weeks.

    The cryptocurrency rose 8.8% to 57,600 today amid reports that billionaire investor George Soros’ family office, Soros Fund Management, has invested in bitcoin.

    The cryptocurrency’s market cap has reached $ 1,029.11 billion. Currently, the global crypto market cap stands at $ 2.30 trillion, up 2.30% from the previous day.

    Ethereum gained 0.99% to $ 3,527 but Dogecoin slipped 8.25% to $ 0.2439. The Stellar digital token rose 10.71% to $ 0.3579 and XRP climbed 0.47% to $ 1.07. Litecoin gained 2.76% to $ 178.25 and Uniswap was trading 0.38% lower at $ 25.01.

    Lately, crypto prices have risen following comments from billionaire Elon Musk and Cathie Wood of Ark Investment Management LLC. At the end of July, Elon Musk said Tesla was “very likely” to start accepting bitcoin as a payment method again. The comment helped the cryptocurrency race to surpass the $ 30,000 level.

    The electric carmaker said in May that it would no longer accept cryptocurrency for purchases. It has been a mad rush for bitcoin for the past three years. Digital currency made its debut on Wall Street in December 2017, when major futures markets launched bitcoin futures. The attention drove Bitcoin to around $ 19,300, a then unheard of price for the currency.

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