Cryptocurrency prices continue to be in the red on November 17. The global cryptocurrency market cap is Rs 192.05 lakh crores, a 4.33 percent decrease over the last day, while the total crypto market volume over the last 24 hours is Rs 10,69,887 crores, which makes a 28.04 percent increase.
Bitcoin's price is currently Rs 48,03,838 and its dominance is currently 43.48 percent, an increase of 0.19 percent over the day.
Bitcoin, the world's biggest and best-known cryptocurrency, fell more than 4 percent on Tuesday as it extended a decline through a week that also included an upgrade to its blockchain.
Cryptocurrency analysts said there did not seem to be any news driving the declines, and the moves seemed driven by profit taking after the sharp run-up.
"There is a lack of news and this is some pure selling of spot and some additions of short selling. Outside of this, there is no significant news," said Matthew Dibb, chief operating officer at Singapore-based crypto asset manager Stack Funds.
Bitcoin's value has more than doubled since June, driven by mainstream adoption of cryptocurrencies and, more recently, the launch of futures-based bitcoin exchange-traded funds in the United States.
It went through a major upgrade, called Taproot, on Sunday that enables its blockchain to execute more complex transactions, potentially widening the virtual currency's use cases and making it a little more competitive with ethereum for processing smart contracts.
Smart contracts are self-executing transactions whose results depend on pre-programmed inputs.
As of 8.20 am on November 17, these are the prices of the largest cryptocurrencies (data from WazirX):