Crypto Market Update: Bitcoin Flirts With $40,000 Level Again, XRP Sits Out Rally

Bitcoin (BTC) briefly crossed the $40,000 mark on Thursday after having retreated to near $30,000-levels this week.

The apex cryptocurrency had hit an all-time high of $41,962.36 last weekend.

At press time, Bitcoin traded 3.88% higher at $38,918.37.

Ethereum (ETH), the cryptocurrency with the second-largest market cap, was up 8.75% at $1,219.67 at press time.

XRP (XRP), which was outperforming Bitcoin earlier this week on news of a former Amazon.com Inc. AMZN executive joining Ripple Inc — the payments company behind the cryptocurrency — has since retreated on news of Grayscale moving to dissolve its XRP Trust.

XRP traded 3.48% lower at $0.2967.

Polkadot (DOT), an enabler of communication between blockchains, has entered the top five cryptocurrencies by market up, with a $13.28 billion valuation. The cryptocurrency traded at $14.38, up 34.3% over 24-hours and 52.36% over seven days.

Among major news, Grayscale reported raising $3.2 billion investments into its cryptocurrency investment products in the fourth-quarter, with the fastest growth registered in Grayscale Bitcoin Trust GBTC.

Grayscale, overall, registered a $5.7 billion investment in its cryptocurrency products in 2020, which it said was four times higher than the $1.2 billion inflow it saw between 2013 and 2019.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: CryptocurrencyIntraday UpdateMarketsBitcoinDigital AssetsEthereumPolkadotXRP
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!