Tag: bitcoin

Hong Kong Said to Be Close to Approving Its First Spot Bitcoin ETFs

Spot bitcoin exchange-traded funds could be launched in Hong Kong this month with the first approvals likely to be announced next week, two people familiar with the matter said.

That timeline would make Hong Kong Asia’s first city to offer the popular ETFs and is much faster than industry expectations of launches sometime this year.

Regulators have sped up the approval process, according to one of the people.

Having lost much of its shine as a global financial hub due to restrictions during the pandemic, China’s faltering economy and Sino-US tensions, Hong Kong authorities have been keen to do what they can to improve the city’s attractiveness for financial trading.

“The significance of Hong Kong ETFs is far-reaching as it could bring in fresh global investment as well as pushing crypto adoption to a new height,” said Adrian Wang, CEO of Metalpha, a Hong Kong-based crypto wealth manager.

The US launched the first US-listed exchange-traded funds (ETFs) to track spot bitcoin in January, drawing roughly $12 billion (roughly Rs. 99,987 crore) in net inflows, data from BitMEX Research shows.

Bitcoin has gained more than 60 percent this year and hit an all-time high of $73,803 (roughly Rs. 61.5 lakh) in March. It was trading at around $69,000 (roughly Rs. 57.5 lakh) on Wednesday.

At least four mainland Chinese and Hong Kong asset managers have submitted applications to launch the ETFs, the two sources said.

The Hong Kong units of China Asset Management, Harvest Fund Management and Bosera Asset Management are among the applicants, according to the two people and a third source.

The sources were not authorised to speak to media and declined to be identified.

Hong Kong’s Securities and Futures Commission (SFC) and the three Chinese companies declined to comment.

China Asset Management and Harvest Fund Management’s Hong Kong units obtained approval this month to manage portfolios that invest more than 10 percent in virtual assets, according to the SFC’s website.

Their parent companies are among the biggest mutual fund firms in China, with each managing over CNY 1 trillion ($138 billion or roughly Rs. 11,49,963 crore) in assets.

Although cryptocurrency trading is banned in mainland China, offshore Chinese financial institutions have been keen to participate in crypto asset development in Hong Kong.

Hong Kong approved its first ETFs for cryptocurrency futures in late 2022. The largest one – the CSOP Bitcoin Futures ETF – has seen its assets under management swell seven times since September to around $120 million (roughly Rs. 999 crore).

Hong Kong-based Value Partners has also said it is exploring launching a spot bitcoin ETF. It has not disclosed if it has submitted an application.

© Thomson Reuters 2024

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Crypto Price Today: Bitcoin, Ether See Losses, Price Fluctuations Weigh Heavy for Most Altcoins

The crypto sector is undergoing a phase of volatility now that Bitcoin is approaching its fourth halving process later this month. Bitcoin on Wednesday, April 10 recorded a loss of 2.30 percent. With this, the value of Bitcoin has fallen to $66,147 (roughly Rs. 55 lakh) as per Gadgets360’s crypto price tracker. On international exchanges like Binance, Bitcoin is trading at a slightly higher price point of $69,058 (roughly Rs. 57.4 lakh).

“The market demand for Bitcoin seems slightly fazed amidst the ongoing price fluctuations. Bitcoin’s hull moving average indicates a ‘Sell’ sentiment reflecting the broader market pulse. The US CPI data is the next focal point for the market and could provide some insights into the rate cuts by the Fed. There is still ambiguity around rate cuts which is being anticipated in June,” Rajagopal Menon, Vice President, WazirX told Gadgets360.

Ether saw a bigger loss than Bitcoin on the price chart. On Wednesday, Ether recorded a loss of 3.28 percent to trade at the price point of $3,190 (roughly Rs. 2.65 lakh) in India. On Binance, Ether is trading at $3,514 (roughly Rs. 2.92 lakh).

“Ethereum supporters continue to struggle in their faith for an ETF amidst lack of updates from the SEC. Despite attempting to surpass the $3,650 (roughly Rs. 3.03 lakh) level, ETH encountered a fadeout. To regain bullish momentum, ETH needs to clear and sustain above this level,” the CoinDCX team told Gadgets360.

Tether, Binance Coin, Solana, Dogecoin, Cardano, Avalanche, Shiba Inu, and Polkadot — all followed BTC and ETH on the loss-trail.

Tron, Chainlink, Polygon, Litecoin, Uniswap, Leo, Cosmos, and Stellar also reflected losses on Wednesday.

“The biggest losers among the top cryptos remained memecoins, as WIF (-18 percent), PEPE (-12 percent), and DOGE (-7.4 percent) all continued to struggle as markets slumped. With the Solana network congested for almost a week now, the price action has also started to reflect this, with Solana prices trading below the $170 (roughly Rs. 12,145),” the CoinSwitch Markets Desk told Gadgets360.

Only a small number of altcoins managed to see profits on Wednesday. These include Ripple, Ripple Cash, Qtum, Iota, and Braintrust.

The overall crypto market dropped by 3.22 percent in the last 24 hours. The current valuation of the sector stands at $2.59 trillion (roughly Rs. 2,15,55,443 crore), as per CoinMarketCap.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article. 

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Bitcoin, Ether Register Losses as Market Volatility Continues to Shadow Price Charts

The volatile element of the crypto sector is nowhere near its end as several cryptocurrencies are still struggling to find a stable price point to trade at. Bitcoin on Wednesday, April 3, reflected a loss of 0.33 percent. With this, its trading value has come to the mark of $65,448 (roughly Rs. 54.5 lakh). Over the last 24 hours, the value of BTC has reduced by $654 (roughly Rs. 54,546). This is the third consecutive day that the most expensive crypto asset has met with price dips.

“There have been a lot of negative sentiments and selling pressure surrounding Bitcoin since the beginning of this quarter. Firstly, the Fed announcements on Tuesday and now the plan of sale of 51,680.33 BTC from the Silk Road seizure, worth over $3.4 billion by the US government,” Shivam Thakral, CEO of BuyUcoin told Gadgets360.

Ether joined Bitcoin in registering losses on Wednesday. The asset is trading at the price point of $3,262 (roughly Rs. 2.72 lakh) after incurring a loss of 0.19 percent. Over the last day, ETH’s pricing has dropped by $8 (roughly Rs. 667).

With Bitcoin’s halving period approaching, the crypto market is experiencing volatility. Other macro-economic factors and developments in the industry are also adding pricing uncertainty for crypto assets at the time leaving many to face losses.

On Wednesday, USD Coin, Ripple, Cardano, Avalanche, and Polkadot — all reflected losses on the price chart.

Value drops have also been recorded by Uniswap, Leo, Cosmos, Cronos, and Stellar.

“The crypto market has undergone another session of correction, with many of the top 10 cryptos by market capitalisation trading in the red. Investor sentiment continues to remain bullish fuelled by the expectations of increasing institutional demand for spot BTC ETF and BTC halving. The market is most likely undergoing short-term correction due to BTC’s pre-halving retrace period. With investor sentiment at a high, we may see the crypto markets surge again,” the CoinSwitch market desk told Gadgets360.

The overall valuation of the crypto sector dipped by 0.61 percent in the last 24 hours. With this, the figure has dropped to $2.49 trillion (roughly Rs. 2,07,73,908 crore), showed CoinMarketCap.

Some cryptocurrencies that managed to see gains on Wednesday include Tether, Solana, Binance Coin, Dogecoin, and Shiba Inu.

Other profit-making altcoins include Bitcoin Cash, Chainlink, Tron, Litecoin, and Near Protocol.

Market analysts suggest investors to exercise caution before making investment decisions.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

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Bitcoin Slips Below Crucial $67,000 Level, Crypto Market Sees Bearish Turn in Last 24 Hours

The last 24 hours brought reductions in the prices of majority cryptocurrencies as the crypto market took what experts are calling a ‘bearish turn’. Bitcoin on Tuesday, April 2 showed a loss of 1.24 percent. With this, the value of the asset receded to $66,102 (roughly Rs. 55.1 lakh). Market analysts had been calling $67,000 (roughly Rs. 55.8 lakh) the crucial price point for BTC, beyond which the asset was expected to rise easily but now that BTC has dropped below this value, analysts fear BTC could tumble further below.

“In the last 24 hours, the market took a bearish turn. Bitcoin is currently trading below the 20 EMA D, indicating bearish sentiment. Attention will be on BTC ETF inflows and US macroeconomic announcements in the coming days,” the CoinDCX Research team told Gadgets360 commenting on the market situation.

Ether reflected a price dip of 3.71 percent on Tuesday. Its current trading value stands on the mark of $3,270 (roughly Rs. 2.72 lakh). In the last 24 hours, the value of ETH has reduced by $125 (roughly Rs. 10,420).

“ETH after making the recent high of $4,093 (roughly Rs. 3.41 lakh), witnessed a sharp correction and the prices fell almost by 25 percent. Traders remain immersed in speculation regarding the potential approval of a spot Ether ETF in May,” the ZebPay trade desk told Gadgets360.

Most cryptocurrencies are trading in losses on Tuesday alongside BTC and ETH. These include Binance Coin, Solana, Ripple, Dogecoin, Cardano, Avalanche, and Shiba Inu.

Other loss-making altcoins, as of Tuesday, include Polkadot, Tron, Chainlink, Polygon, Litecoin, Uniswap, and Near Protocol.

“The top 20 cryptos by market cap are currently trading in the red. As a result of the market performance in the last 24 hours, the crypto market has observed total liquidations of over $490 million (roughly Rs. 4,084 crore), including BTC’s $134.74 million (roughly Rs. 1,123 crore),” the CoinSwitch Markets Desk told Gadgets360.

The overall crypto market valuation dunked by 5.92 percent in the last 24 hours. The current crypto market cap stands at $2.52 trillion (roughly Rs. 2,10,07,274 crore), as per CoinMarketCap.

Stablecoins like Tether and USD Coin joined altcoins like Bitcoin Cash, Leo, Monero, and Iota managed to record minor gains on Tuesday.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article. 

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Bitcoin Steps into April with Small Gains, Altcoins See Slight Relief from Volatility

The crypto sector underwent tremendous ups and downs in the month of March, with Bitcoin reaching an all-new high of over $73,000 (roughly 60.8 lakh). On Monday, April 1, Bitcoin recorded a minor gain of 1.35 percent to trade at $67,014 (roughly Rs. 55.8 lakh) in India. The most expensive asset on the crypto block, Bitcoin’s price did not see a significant change from its value last week as we step into April. On Binance, the asset is trading at a slightly higher price of $70,950.37 (roughly Rs. 59 lakh).

“Since last week, Bitcoin has been trying to break the $71,500 (roughly Rs. 59.6 lakh) resistance only to fall back to $70,000 level. It would be interesting to see how the Bitcoin price action unfolds this halving with just 22 days left roughly for the 4th Bitcoin halving,” Shivam Thakral, CEO of BuyUcoin told Gadgets360, commenting on Bitcoin’s trajectory.

Ether followed Bitcoin and registered small gains on April 1. At the time of writing, ETH was trading at $3,395 (roughly Rs. 2.83 lakh).

“While ETH is experiencing an overall positive price action, its liquid supply seems to be declining. As per Glassnode data, just 11 percent of ETH’s total supply is currently available for active trading, down from 15.8 percent same time last year. However, given the investor sentiment and whale accumulation pattern, this has only bolstered ETH’s price by over 50 percent since the beginning of 2024,” Parth Chaturvedi, Investments Lead, CoinSwitch Ventures told Gadgets360.

Most altcoins snapped out of the volatility phases over the weekend and settled on the profit-side of the crypto chart on Monday.

These include Solana, Ripple, USD Coin, Dogecoin, Avalanche, Polkadot, and Bitcoin Cash.

Small profits have also been registered by Tron, Polygon, Litecoin, Near Protocol, Cosmos, and Cronos.

“DOGE emerged as one of the biggest gainers in the last seven days with gains of over 25 percent, currently trading at $0.17 (roughly Rs. 14.52). Another dog-themed meme coin entered the meme coin big leagues over the weekend. Dogwifhat (WIF; +6.2 percent) has become the third-largest meme coin with over 60 percent in weekly gains,” Chaturvedi noted.

The overall crypto market cap went up by 0.48 percent in the last 24 hours. The valuation of the sector presently stands at $2.67 trillion (roughly Rs. 2,22,68,721 crore), as per CoinMarketCap.

While most altcoins are trading in gains on Monday, a notable number of cryptocurrencies also registered losses on Monday. These include Tether, Binance Coin, Cardano, Shiba Inu, Chainlink, and Uniswap.

The market analysts have alerted the investors to be cautious because overall, the crypto market continues to be on an extremely greedy streak.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

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Google to Show Token Balances in Wallets Running on Bitcoin, Polygon, Fantom Blockchains

Google, in a crypto-supportive move, has decided to show balances of crypto wallets through a simple Google search. The balance information for wallets based on the blockchains of Bitcoin, Arbitrum, Avalanche, Optimism, Polygon, and Fantom will now be shown on Google once the wallet address is correctly typed into the Search bar. Heavily visited web platforms like Google easing out the process of engaging with digital wallets could rope-in more members to the digital wallets space.

The balances that Google will show may not be updated in real-time and would only show balances in the native tokens of the blockchains that are eligible for this Google feature. Screenshots of the feature have already begun floating on social networking platforms.

It is, however, noteworthy that blockchain transactions are saved on public domains. A wallet address does not reveal the identity of the wallet holder. The control of each wallet is stored in its private key, that is possessed by the wallet holder.

This development comes at a time when the crypto sector is sprinting on a bull run. Bitcoin, for instance, recently touched its new all-time high of over $73,000 (roughly Rs. 60.8 lakh). Standard Chartered predicts that Bitcoin is projected to reach the price mark of $200,000 (roughly Rs. 1.66 crore) by 2025.

Thanks to the bull run in the crypto market, along with the introduction of ETFs in the US and ETNs in the UK, more investors could join the crypto sector in the coming days subsequently leading to more visits on Google for wallet balance check.

This is not the first time, that Google has integrated such a pro-crypto service to Search. Earlier this month, Google Search started showing wallet balances for active holders of the Ethereum Name Service (ENS). The ENS compresses complex wallet addresses into humanly readable, short addresses.

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Bitcoin Hovers Over $67,000, Ether and Solana Manage to See Gains Despite Ongoing Slowdown

Bitcoin on Friday, March 29 saw a loss of 0.18 percent. The value of Bitcoin, at the time of writing stood at $67,034 (roughly Rs. 55.8 lakh). In the last 24 hours, the value of Bitcoin tumbled by $111 (roughly Rs. 9,250). Market experts believe that in the coming days, the most expensive asset could see its price consolidating at the mark of $70,400 (roughly Rs. 58.6 lakh). A bunch of cryptocurrencies followed Bitcoin on the loss-trail.

Tether, Binance Coin, USD Coin, Cardano, Bitcoin Cash, and Polygon followed Bitcoin on the loss-making side of the crypto chart on Friday.

“Both Bitcoin and Ethereum are expected to see some volatility with $15 billion (roughly Rs. 1,25,022 crore) worth of options set to expire. Overall, the market remains extremely greedy,” Edul Patel, CEO of Mudrex told Gadgets360.

Ether managed to see a miniscule gain of 0.86 percent as of Friday. The price of Ether currently stands at $3,390 (roughly Rs. 2.82 lakh).

Solana, Ripple, Dogecoin, Avalanche, Shiba Inu, and Polkadot managed to register minor gains.

The list was further joined by Tron, Near Protocol, Litecoin, Cronos, and Stellar.

“On the market front, most of the top 10 crypto assets by market cap managed to trade in the green in the last 24 hours, with DOGE (+9.4 percent) leading the gains. Technical analysis shows that DOGE’s performance could be attributed to a prolonged reversal,” Parth Chaturvedi, Investments Lead, CoinSwitch Ventures told Gadgets360.

The crypto market is currently witnessing the legal run-ins of several players across different geographical locations. Binance, Coinbase, and KuCoin are already under probe in Nigeria, Philippines, and the US over different issues.

In addition, Sam Bankman-Fried, the CEO of now defunct FTX exchange has been sentenced to 25 years in prison for multi-billion-dollar FTX fraud.

The overall crypto market cap rose by 0.58 percent in the last 24 hours. The valuation of the sector currently stands at $2.65 trillion (roughly Rs. 2,20,87,246 crore), as per CoinMarketCap.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

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Bitcoin, Ether Trade Sideways, Most Altcoins Register Price Dips Amid Industry Turmoil

Majority cryptocurrencies registered losses on Thursday, March 28 in the aftermath of industry players like Binance, Coinbase, and KuCoin facing legal issues in different parts of the world. Bitcoin on Thursday managed to see a miniscule gain of 0.06 percent. With this, the value of Bitcoin has come to the point of $67,145 (roughly Rs. 55.9 lakh). In the last 24 hours, the value of Bitcoin dropped by $143 (roughly Rs. 11,920). Markets experts expect the asset to cross the mark of $70,000 (roughly Rs. 58.3 lakh) in the coming days.

“Technically, BTC is consolidating within a range after an upward movement, finding support at the 20EMA 4 H level, which is robust. The key level remains at $69,000 (roughly Rs. 57.5 lakh), with BTC needing to maintain position above it. Resistance is at the all-time high, which BTC must clear for new highs,” the CoinDCX team told Gadgets360.

Ether recorded a loss of 2.13 percent on Thursday. The asset is currently trading at the price point of $3,360 (roughly Rs. 2.80 lakh).

“ETH continues to underperform BTC, currently hovering slightly above $3,500 (roughly Rs. 2.90 lakh) and below the 20EMA. To see a significant upside move, ETH must first surpass $3,650 (roughly Rs. 3.04 lakh) while $3,450 (roughly Rs. 2.87 lakh) serves as a support level,” the CoinDCX team added.

Tether, Binance Coin, Solana, USD Coin, Cardano, and Avalanche — found themselves following Ether towards the loss-making side of the crypto chart.

Other cryptocurrencies that failed to register any gains on Thursday include Litecoin, Leo, Polkadot, Polygon, and Uniswap.

The overall crypto market cap, as of Thursday, stands at $2.62 trillion (roughly Rs. 2,18,43,778 crore) after the valuation dipped by 1.33 percent in the last 24 hours, showed CoinMarketCap.

Profit-making cryptocurrencies, meanwhile, include Dogecoin, Bitcoin Cash, Leo, Cosmos, and Braintrust.

The market volatility could persist for a while as some of the biggest exchanges in the sector are undergoing legal issues. Binance, for instance, is facing inquiry in Nigeria after a company executive managed to escape custody and fled the nation.

KuCoin has been charged by the US’ CFTC for operating an illegal digital asset derivatives exchange. Meanwhile, a court in the US has reportedly ruled that the SEC has made a plausible argument that Coinbase is operating as an unregistered broker, exchange, and clearinghouse.

Clarity in the resolution of these industrial hurdles could help the crypto sector snap out of its volatility phase.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

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Crypto Price Today: Losses Strike Bitcoin, Ether as Market Awaits US’ Final GDP Announcement

Majority of the popular cryptocurrencies are trading in losses as of Wednesday, March 27. Bitcoin on Wednesday registered a price dip of 0.65 percent to trade at $67,288 (roughly Rs. 56 lakh). Over the last 24 hours, the value of Bitcoin dipped by $442 (roughly Rs. 36,830). As per market analysts, the asset saw equal amounts of buying and selling pressure in the last 24 hours as prices see-sawed throughout the day before ultimately consolidating around its current pricing.

“As for Bitcoin’s price action, its next resistance level lies at $70,979 (roughly Rs. 59.1 lakh), while the next support level is at $68,955 (roughly Rs. 57.4 lakh),” Edul Patel, CEO of Mudrex told Gadgets360.

Ether recorded a price dip of 0.62 percent on Wednesday. At the time of writing, Ether was trading at $3,445 (roughly Rs. 2.87 lakh). Over the last 24 hours, the value of Ether reduced by $20 (roughly Rs. 1,666).

“The London Stock Exchange’s announcement to launch Bitcoin and Ethereum exchange traded notes (ETNs) from March 28 added to the positive sentiments in the market as well. In the last 24 hours, Ethereum consolidated around $3,600 (roughly Rs. 2.99 lakh),” Edul Patel, CEO of Mudrex told Gadgets360.

A big number of cryptocurrencies found themselves reeling under losses on Wednesday. These include Tether, Binance Coin, Solana, USD Coin, Cardano, and Avalanche.

Meanwhile, Polkadot, Polygon, Uniswap, Litecoin, Leo also registered price dips.

“Over the past day, the crypto market experienced significant volatility, initially showing strength but turning bearish when the US market opened. Tomorrow’s US final GDP announcement may introduce further volatility to the market,” the CoinDCX Research Team told Gadgets360, commenting on the market momentum.

Among cryptocurrencies that recorded profits on Wednesday, Dogecoin and Shiba Inu registered their names.

Chainlink, Wrapped Bitcoin, Tron, Bitcoin Cash, Uniswap, Litecoin, and Leo also managed to record minor gains.

“Yesterday, biggest altcoin loser remained Fantom’s native token FTM, as after showing 200 percent growth in two weeks, people seem to be booking some profits on the token. Ethereum’s layer 2, Optimisim has also pledged more than $3 billion (roughly Rs. 29,996 crore) in OP tokens for the community developing in the blockchain space,” the CoinSwitch Markets Desk told Gadgets360.

The overall crypto market cap dropped by 0.50 percent in the last 24 hours. The crypto market valuation, at the time of writing, stands at $2.65 trillion (roughly Rs. 2,20,83,642 crore), as per CoinMarketCap.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article. 

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Bitcoin Value Sees Notable Spike, Most Altcoins Shrug Off Volatile Phase of Price Correction

A number of cryptocurrencies seem to be getting back on the profit track, after seeing a brief period of price correction. Bitcoin on Friday, March 22 stepped into the trading arena at the price point of $64,950 (roughly Rs. 54.13 lakh). Bitcoin did see a minor loss of 1.60 percent on Friday, but its value has seen a rise of $2,150 (roughly Rs. 1.80 lakh) in the last 48 hours. The asset is expected to remain volatile in the coming days.

“Bitcoin is consolidating as Spot Bitcoin ETFs continue their trend of net outflows. Popular investor grayscale’s gBTC has seen outflows of -$1.8 billion (roughly Rs. 15,012 crore). We may see a breakout of this range into the mid $70,000s (roughly Rs. 58.3 lakh) in the next few days or weeks. The Bitcoin price must maintain the $61,000 (roughly Rs. 50.8 lakh) support region in case of a dip,” Shivam Thakral, CEO of BuyUcoin told Gadgets360.

With most cryptocurrencies seeing gains, only some tailed behind Bitcoin on the loss-trail on Friday. These include Solana, Avalanche, Polkadot, Polygon, and Near Protocol.

Leo, Cosmos, and Cronos also registered minor losses.

Profits, meanwhile, struck more cryptocurrencies on Friday. Ether rose in price by around one percent. Its trading value at the time was $3,405 (roughly Rs. 2.83 lakh). Tether, Binance Coin, Ripple, Cardano, and Dogecoin — are all trading in profits.

Shiba Inu, Chainlink, Tron, and Wrapped Bitcoin also reflected notable gains.

“Altcoins demonstrated resilience, as Ripple’s XRP, Filecoin’s FIL, and Internet Computer’s ICP recorded gains of six percent to seven percent. The dollar’s revival ensued after the Swiss central bank unexpectedly slashed interest rates, undoing BTC’s gains following yesterday’s dovish Fed comments,” Rajagopal Menon, Vice President, WazirX told Gadgets360.

The overall valuation of the crypto market rose by 0.58 percent in the last 24 hours. The current market cap stands at $2.51 trillion (roughly Rs. 2,09,25,680 crore) as per CoinMarketCap.

In a significant development meanwhile, BlackRock introduced its tokenised asset fund, on the Ethereum network.

“This fund will allow qualified investors to earn US dollar yields by subscribing through Securitize, marking a significant step forward in tokenised asset offerings,” Parth Chaturvedi, Investments Lead, CoinSwitch Ventures told Gadgets360.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article. 

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