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Cryptocurrency News: Market value, exchange rate to dollar today 16 November 2021

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Here are the exchange rates for top cryptocurrencies to dollar.

The cryptocurrencies are bedeviled with high rate of volatility because it is the hottest trend in investment. However, here are some rundown of current rates as at the time of filing this report.

The spotlight will be on the top 10 cryptocurrencies based on their market value today 16 November 2021.

Cryptocurrency list: Dollar USD exchange rate | Market Value

  1. Bitcoin (BTC): 59 506.00 USD | 1 133 199 966 133.00 USD
  2. Ethereum (ETH): 4 205.11 USD | 503 693 739 461.00 USD 
  3. Binance Coin (BNB): 577.6 USD | 98 172 458 242.00 USD
  4. Tether (USDT): 0.998 USD | 74 672 749 265.00 USD
  5. Solana (SOL): 219.65 USD | 68 118 141 446.00 USD
  6. Cardano (ADA): 1.87 USD | 60 881 497 446.00 USD
  7. XRP (XRP): 1.08 USD | 51 335 089 852.00 USD
  8. Polkadot (DOT): 40.91 USD | 43 497 967 242.00 USD
  9. USD Coin (USDC): 0.998 USD | 34 371 526 305  USD
  10. Dogecoin (DOGE): 0.235 USD | 31 514 660 854.00 USD

What is Cryptocurrency?

Cryptocurrencies are the digital coin that live on the blockchain. It is a decentralized computer network that records all transactions. The value of crypto is determined by how many people buy it. That is why it does not depend on central authority like traditional currencies depend on banks.

As of March 2021, there are about 9,000 cryptocurrencies in the market. Bitcoin is the first to begin and still remain at the top because it has limited supplies that’s why some view it as a good store of value and an edge against inflation like gold.

Meanwhile, USD Coin has overtaken Dogecoin in market value, as of yesterday the latter was ranked 9, while Bitcoin saw 7 percent fall as other  altcoins plunge.

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