Cryptocurrency Prices Today: Bitcoin, Ethereum fall nearly 2%, Shiba Inu, XRP rise

Cryptocurrency (Representative image)

Cryptocurrency prices continue to be in the red on November 1. The global cryptocurrency market cap is Rs 197.08 lakh crores, a 0.56 percent decrease over the last day, while the total crypto market volume over the last 24 hours is Rs 9,982.02 crores, which makes a 7.40 percent decrease.

Bitcoin's price is currently Rs 48,45,010  and its dominance is currently 43.98 percent, an decrease of 0.40 percent over the day.

Meme cryptocurrency Shiba Inu tops the WazirX exchange in terms of volume with Tether and Bitcoin trailing behind on second and third respectively.

SHIB, the self-proclaimed "dogecoin killer", which was created in August 2020 by someone who uses the name Ryoshi, is modelled after Dogecoin. It is currently trading at Rs 0.005620, 8.26 percent higher since yesterday.

Apple co-founder Steve Wozniak has joined the list of tech entrepreneurs who are lending their weights behind cryptocurrency. According to Wozniak, the virtual currency offers an "awful lot of promise" and Bitcoin, which is the largest cryptocurrency, is "mathematically pure".

Wozniak, popularly referred to as Woz, has backed the blockchain technology -- that is at the heart of the functioning of cryptocurrencies.

"It has a very trustable format that can't be modified easily," he noted in an interaction with Yahoo! Finance Live on October 29.

The renowned computer programmer said he belongs to the camp which thinks that "crypto will be used effectively".

"Crypto has an awful lot of promise through the blockchain of different things it can do differently than before... right down to elections even," Wozniak added.

Referring to Bitcoin specifically, Wozniak said the largest cryptocurrency maintains anonymity to a significant extent.

It "doesn't even have a creator that we know of, it isn't run by some company, it's just mathematically pure, and I believe nature over humans always", he said.

As off 7.40 am on November 1, these are the prices of largest cryptocurrencies (data from WazirX):