The cryptocurrency market witnessed marginal on Friday after a series of negative developments, but the volatility has considerably reduced compared with the situation a few weeks ago.
The value of many cryptocurrencies including Bitcoin slipped. The world’s most popular cryptocurrency had slipped more than 3 per cent early on Friday after a series of cryptic tweets by Tesla CEO Elon Musk, who hinted at a breakup with the cryptocurrency.
However, even Musk’s tweet could not dent the value of Bitcoin as it is on track for its best weekly gain in about a month. At 9:30 am yesterday, Bitcoin was trading 0.73 per cent higher at over $37,900.
Smaller rival Ethereum (Ether) is also on track to register healthy gains and was up 0.88 per cent at the time of writing this article.
However, many other ‘altcoin’ like Dogecoin, Cardano, Ripple, Stellar, Chainlink, Litecoin and Polkadot have fallen due to some reports that have surfaced.