Tag: bitcoin

Bitcoin Grabs Attention of World’s Largest Pension Fund Based in Japan

Bitcoin, the most expensive asset of the crypto sector, is seemingly grabbing the attention of Japan’s pension fund. The largest pension fund in Japan is considering diversifying investment portfolios, splitting focus from traditional assets. The information was disclosed by Japan’s Government Pension Investment Fund (GPIF) this week. Bitcoin’s appeal is not going unnoticeable by GPIF now that it is undergoing a bull run with its price fluctuating between $66,000 (roughly Rs. 54 lakh) and $73,000 (roughly Rs. 60.5 lakh).

Japan’s GPIF is estimated to have $1.4 trillion (roughly Rs. 1,16,22,086 crore) worth of assets under its control. As per Spain’s investment research firm RankiaPro, GPIF has been the world’s largest pension fund since 2022.

Moving forward, the GPIF is exploring changes it can incorporate to deal with the evolving financial landscape. The organisation is launching a research programme that will span five years during which it will study other considerable potential investment tools.

GPIF’s document outlining its BTC-friendly research plans, published in Japanese, says that the assets currently considered by the firm as assets to be managed are farmland, gold, Bitcoin among others.

Up until now, the body has limited investment options into traditional assets like domestic and international stocks, bonds – aiming to minimise financial risks and ensure stable returns.

GPIF’s interest in exploring Bitcoin as an investment option comes as a result of persistent demands around including the digital asset, a report by Crypto.news said.

The crypto market in Japan has shown a notable growth in the last year. Towards the end of 2023, it was estimated that over five million Japanese residents held cryptocurrencies.

The Japanese government, under Prime Minister Fumio Kishida, is taking a supportive approach towards the crypto sector. In January this year, Japanese e-commerce major Mercari reportedly said it planning to accept Bitcoin payment in the coming months.

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Bitcoin, Ether Record Big Drops, Overall Crypto Chart Reflects Losses

The overall crypto price chart saw losses on Friday, March 15. Bitcoin, that had been rallying for days, was hit with a notable loss of 7.90 percent. At the time of writing, Bitcoin was trading at $67,765 (roughly Rs. 56.1 lakh). Over the last day, the value of BTC has decreased substantially by $5,353 (roughly Rs. 4.43 lakh). Before receding, Bitcoin had managed to maintain its value above the mark of $73,000 (roughly Rs. 60.5 lakh) for most part of the week.

Ether recorded an even bigger loss than Bitcoin as the market turned negative on Friday. The value of ETH reached $3,500 (roughly Rs. 2.90 lakh) after the asset dropped in price by 11.31 percent. The maximum price that ETH managed to touch this week was $3,950 (roughly Rs. 3.27 lakh).

“Bitcoin has experienced a flash dump in the last 24 hours. Ethereum also saw similar price action which could be linked to the announcement of the Producer Price Index (PPI) by the Fed, which was higher by 0.6 percent last month. The Fed is signalling that no interest rate cut could be expected at the May meeting,” Shivam Thakral, CEO of BuyUcoin told Gadgets360.

Majority cryptocurrencies recorded losses on Friday following the slipping of BTC and ETH. These include Tether, Solana, Ripple, USD Coin, Cardano, Shiba Inu, Polkadot, and [Tron] (https://www.gadgets360.com/finance/tron-price-in-india-today-inr).

Uniswap and Litecoin also registered losses alongside BTC and ETH on Friday. The overall crypto market cap tumbled by 5.73 percent in the last 24 hours. At the time of writing, the crypto market valuation stood at $2.59 trillion (roughly Rs. 2,14,74,000 crore), as per CoinMarketCap.

Some cryptocurrencies did manage to retain gains on Friday. These include Bitcoin Cash, Near Protocol, Leo, and Iota.

Players of the crypto industry, meanwhile, are expanding their businesses and operations on an international level. Cryptocurrency exchange OKX’s Singapore subsidiary, for instance, received the in-principal approval for a payments licence to operate in the city-state.

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 Chase New All-Time Highs Despite Incurring Small Losses, Market Stays Volatile

Bitcoin on Monday, March 11 registered a loss of one percent. The most expensive cryptocurrency in existence, Bitcoin is presently trading at the price point of $68,481 (roughly Rs. 56.6 lakh). This is the closest it has come to its previously set all-time high pricing of $69,225 (roughly Rs. 57.2 lakh). Over the weekend, Bitcoin managed to rise in pricing by $2,087 (roughly Rs. 1.72 lakh). Market analysts are now looking at the mark of $70,000 (roughly Rs. 57.8 lakh) as the next big resistance point for the crypto asset.

Ether slipped in pricing by 2.64 percent. The value of ETH, at the time of writing stands at $3,840 (roughly Rs. 3.17 lakh). Over the weekend, Ether also managed to record a substantial spike of $297 (roughly Rs. 24,555) in its value.

“The biggest Spot ETF which fuelled this recent rally, BlackRock’s bitcoin exchange-traded fund, has reached $10 billion (roughly Rs. 90,110 crore) faster than any US ETF in history. We could see Ethereum break the $4,000 (roughly Rs. 3.30 lakh) resistance level as the Dencun upgrade, which is expected to decrease fees on the Layer2 Blockchains, is less than two days away,” Shivam Thakral, CEO of BuyUcoin told Gadgets360.

Along with BTC and ETH, majority altcoins reflected losses next to their names on Monday.

These include Tether, Solana, Ripple, USD Coin, Cardano, Shiba Inu, Polkadot, and Tron.

Tron, Uniswap, Bitcoin Cash, and Litecoin also logged losses as of Monday.

“With just 40 days left to the Bitcoin halving event, we can expect a period of heightened volatility in the market. Simultaneously, the wider investment landscape continues to actively move towards digital assets,” Parth Chaturvedi, Investments Lead, CoinSwitch Ventures told Gadgets360.

In the last 24 hours, the overall crypto market cap dunked by 1.61 percent. The current crypto market valuation stands at $2.59 trillion (roughly Rs. 2,14,13,614 crore), as per CoinMarketCap. While BTC’s dominance on the market cap stands at 51.9 percent, Ether’s stands at 17.9 percent.

Meanwhile, cryptocurrencies trading in the profits include Binance Coin, Chainlink, Polygon, Near Protocol, and Leo.

“The ETH/BTC pair appears stable, indicating a potential rebound, which could lead to ETH outperforming BTC in the coming days or weeks. It’s worth noting that the upcoming US CPI announcement may introduce additional volatility into the market, the CoinDCX research team 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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Bitcoin Shows Gradual Ascend Above $66,000, Ether Undergoes Price Correction

The crypto price charts, on Friday, March 8, reflected profits for a bunch of cryptocurrencies. Bitcoin on Friday recorded a gain of 2.03 percent that took its price point to $66,394 (roughly Rs. 54.9 lakh). This is a gradual escalation of BTC price by $1,392 (roughly Rs. 1.15 lakh) from its value yesterday. As per market analysts, bulls are currently directing Bitcoin’s market trajectory while also propelling the price of the asset higher.

“The influx of capital from traditional finance sectors into spot Bitcoin ETFs remains a significant factor fuelling the price surge, alongside the imminent Bitcoin halving,” Edul patel, CEO of Mudrex told Gadgets360.

Ether managed to mint a minor gain of 0.96 percent on Friday. The value of Ether, at the time of writing, stood at $3,543 (roughly Rs. 2.93 lakh). Over the last day, the value of ETH rose by $38 (roughly Rs. 3,142). The asset briefly touched $3,900 (roughly Rs. 3.22 lakh) before pulling back to the current price point.

“Ether is positioned for substantial growth in 2024. Analysts project Ether (ETH) to potentially double or exceed current prices, reaching between $8,000 (roughly Rs. 6.61 lakh) and $10,000 (roughly Rs. 8.2 lakh). The imminent Dencun upgrade, scheduled for this month, ensures more cost-effective transactions on Layer-2 networks, stimulating increased activity. Furthermore, enthusiasm surrounds Ether ETF applications, with a regulatory decision expected in May,” Rajagopal Menon, Vice President, WazirX told Gadgets360.

Binance Coin, Ripple, Dogecoin, Avalanche, Chainlink, and Polygon — all joined BTC and ETH on the profit-making side of the crypto price chart.

Uniswap, Bitcoin Cash, Litecoin, Leo, Monero, and Bitcoin SV also registered small profits.

As per CoinMarketCap, the overall crypto market valuation rose by 2.08 percent in the last 24 hours. The crypto market cap currently stands at $2.55 trillion – the highest it has spiked to in the last two years.

“AI-related tokens are reacting positively ahead of Nvidia’s conference later this month speculated to feature a crypto product. SOL (+3.1 percent) too, has witnessed a significant breakthrough after it broke past its resistance at $140 (roughly Rs. 11,580),” Parth Chaturvedi, Investments Lead, CoinSwitch Ventures told Gadgets360.

Meanwhile, loss-making cryptocurrencies on Friday include Tether, USD Coin, Cardano, Shiba Inu, Polkadot, and Tron.

Stellar, Cronos, Cosmos, and Near Protocol also registered losses.

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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ED Files Charges Against Chinese-Origin Directors, Others in Crypto Mining App Case

A charge-sheet has been filed under the anti-money laundering law against 299 entities, including 10 persons of Chinese origin, in an investigation linked to alleged duping of investors in the name of mining cryptocurrencies such as Bitcoins, the Enforcement Directorate said on Wednesday.

A special court in Dimapur in Nagaland on Tuesday took cognisance of the prosecution complaint filed under the Prevention of Money Laundering Act (PMLA), the federal agency said in a statement.

A total of 299 entities, including 76 Chinese-controlled entities in which 10 directors are of Chinese origin and two controlled by other foreign nationals, have been named as accused, it said.

The Enforcement Directorate’s (ED) case of money laundering stems from an FIR of the Cyber Crimes Unit of the Kohima Police.

The Kohima Police had booked various people under the Indian Penal Code and the Information Technology Act for allegedly duping gullible investors by promising astronomical returns by mining Bitcoins and other cryptocurrencies.

Police had said an app (mobile-phone application) by the name of “HPZ Token” was used by the accused to “cheat” the investors.

The ED said bank accounts and merchant IDs were opened by various “shell entities” having “dummy” directors for the purpose of “layering” of the proceeds of crime.

These funds were “fraudulently” received for illegal online gaming, betting and investment for Bitcoin mining, it claimed.

For an investment of Rs. 57,000, returns of Rs. 4,000 a day for three months were promised but money was paid only once, and thereafter, fresh funds were sought by the accused from the investors, the ED said.

Countrywide searches were undertaken by the ED in this case leading to the seizure of immovable assets and deposits worth Rs. 455 crore, it said.

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Bitcoin, Ether Recover Pricewise After Brief Pullback, Shiba Inu and Chainlink See Minor Dips

Bitcoin, that underwent a small price correction period recently, has returned to the profit-side of the crypto chart. On Thursday, March 7 Bitcoin minted a small gain of 0.12 percent that took its trading value to $65,002 (roughly Rs. 53.8 lakh). Over the last day, the value of BTC has spiked by $1,297 (roughly Rs. 1.07 lakh). Not just Bitcoin, but in the last 24 hours, the overall cryptocurrency market witnessed a notable rebound following the recent downturn.

Ether is presently trading at $3,505 (roughly Rs. 2.90 lakh) after seeing a price rise of 6.69 percent on Thursday. In the last few hours, Ether did touch a yearly-high of $3,900 (roughly Rs. 3.22 lakh) before receding to its current pricing.

“BTC faces a key resistance zone at $69,000 (roughly Rs. 57.1 lakh), although it remains supported by the 50-day Exponential Moving Average (EMA) indicating potential stability. On the other hand, ETH is eyeing the $4,100 (roughly Rs. 3.39 lakh) level as its next resistance, with strong support from the 20-day EMA on the four-hour chart,” the CoinDCX market team told Gadgets360.

Cryptocurrencies trading in losses on Thursday include Tether, Ripple, Shiba Inu, Chainlink, and LEO.

Other than the above popular altcoins, all others are trading in profits. These include Binance Coin, Solana, Cardano, Dogecoin, Avalanche, Polkadot, and Tron among others.

“Noteworthy tokens belong to the AI category as popular tokens like FET (+52 percent), RNDR (+46 percent) and AGIX (+43 percent) as they showed significant gains on the USD pairing. This signifies investors confidence in AI-based tokens. It is worthwhile to note that all of these tokens have already gone 10 times of their lows in the market cycle and a correction will not be surprising,” the CoinSwitch Markets Desk told Gadgets360.

In the last 24 hours, the overall crypto market cap rose by 0.56 percent in valuation. The sector’s market cap currently stands at $2.48 trillion (roughly Rs. 2,05,30,320 crore) — as per CoinMarketCap. Investors are advised caution before making decisions because the market is subject to volatility amid its ongoing rally, experts have said.

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 Touches Record High Before Dipping Again, Crypto Chart Shows Nail-Biting Changes

Bitcoin, the most expensive asset on the crypto chart, has been recording regular pumps these recent days. On Wednesday, March 6 Bitcoin registered a loss of 6.20 percent to trade at $63,705 (roughly Rs. 52.8 lakh). In the last 24 hours, the value of Bitcoin briefly rose to $69,200 (roughly Rs. 57.3 lakh) before dipping by ten percent. The constant fluctuations in the crypto pricings have left the investor community biting nails.

“It’s normal to see a correction in Bitcoin after a month-long rally or hitting a new ATH every time. This Bitcoin momentum fuelled by Spot ETF volumes and interest rate cut anticipations failed to continue because over $1 billion (roughly Rs. 8,289 crore) were liquidated,” Shivam Thakral, CEO of BuyUcoin told Gadgets360.

Ether clocked a minor loss on Wednesday to trade at $3,498 (roughly Rs. 2.90 lakh). Over the last day, the value of ETH has dropped by $48 (roughly Rs. 3,980).

“ETH also saw a spike to $3,800 (roughly Rs. 3.15 lakh) before plummeting to $3,200 (roughly Rs. 2.65 lakh). This drastic movement caused altcoins to plummet by 15-20 percent within minutes, possibly due to profit-taking after surpassing the 2021 peak,” the CoinDCX market desk told Gadgets360.

With both BTC and ETH reeling under losses, the impact is being seen on other altcoins as well. Tether, Binance Coin, Solana, Ripple, Cardano, Dogecoin, Avalanche, Polkadot, and Tron are all trading in losses on Wednesday.

Polygon, Bitcoin Cash, Litecoin, Stellar, Cronos, Monero, Bitcoin SV, and Elrond also logged losses.

The overall valuation of the crypto chart slipped by two percent in the last 24 hours. The current crypto market cap stands at $2.47 trillion (roughly Rs. 2,04,77,189 crore) — showed CoinMarketCap.

Among cryptocurrencies that clocked small profits, USD Coin, Shiba Inu, Uniswap, Leo, Cosmos, and Near Protocol marked their names.

“BTC briefly reached $69,200 (roughly Rs. 57.3 lakh) before succumbing to selling pressure, leading to subsequent sell-offs and pushing the price down to a low of $59,700 (roughly Rs. 49.4 lakh). Despite Bitcoin’s seven percent dip in the last 24 hours, ETH and SOL outperformed, while altcoins such as ADA, DOGE, and SHIB suffered losses ranging from 10 percent to 12 percent,” Rajagopal Menon, Vice President, WazirX 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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Bitcoin Price Crosses $61,000, Ether Shows Gradual Rally: Details

Bitcoin is pumping, folks! The asset, for the first time since November 2021, has crossed the mark of $61,000 (roughly Rs. 51 lakh). On Thursday, February 29, Bitcoin recorded a profit of 8.32 percent that took its price to $61,746 (roughly Rs. 51.4 lakh). In the last 24 hours, the value of Bitcoin has risen by $3,754 (roughly Rs. 3.11 lakh). As per market analysts, this surge is attributed to the ten spot Bitcoin ETFs in the US registering a new daily record by surpassing the $7.7 billion (roughly Rs. 63,833 crore) trading volume triggered by retail investors jumping on the crypto rally.

“BlackRock’s Bitcoin ETF traded $3.3 billion (roughly Rs. 27,357 crore) on Wednesday, twice as much as its previous volume record. Bitcoin surged over 50 percent on a year-to-date. If this momentum continues, it is likely that Bitcoin will beat its previous all-time high soon,” Edul Patel, CEO of Mudrex told Gadgets360.

Ether clocked a profit of 5.42 percent as it stepped into the trading rink on Thursday. The current trading value of ETH stands at $3,424 (roughly Rs. 2.83 lakh). Over the last day, ETH pricing has risen by $176 (roughly Rs. 14,590).

“Ethereum broke $3,400 (roughly Rs. 2.81 lakh), which is yet to have a similar rally as Bitcoin and is expected to hold these levels strongly until the halving. ETH-spot ETFs could send the second-largest crypto to new All-Time Highs (ATH),” Manhar Garegrat, Country Head, India & Global Partnerships at Liminal Custody Solutions told Gadgets360.

A plethora of altcoins have joined BTC and ETH in their rallies. These include Binance Coin, Solana, Cardano, Dogecoin, Avalanche, Chainlink, and Polkadot.

Other cryptocurrencies trading in gains on Thursday include Wrapped Bitcoin, Shiba Inu, Bitcoin Cash, Litecoin, and Cosmos.

The overall crypto market cap rose by 6.90 percent in the last 24 hours. The current crypto market valuation stands at $2.3 trillion (roughly Rs. 1,90,67,264 crore) as per CoinMarketCap. In light of BTC’s ongoing rally, the Bitcoin dominance on the crypto market stands at 53 percent.

“All Indian investors who had previously invested in Bitcoin are now in a profitable position with the market sentiment slowly moving towards the ‘extreme greed’ category. A glimpse of what might happen if you are too late was visible yesterday. After BTC reached $64,000 (roughly Rs. 53 lakh), there was a sudden dip due to sudden profit booking and BTC’s price fell below $59,000 (roughly Rs. 48.9 lakh) within minutes, causing close to $200 million (roughly Rs. 1,658 crore) worth of liquidations within just one hour. Simultaneously, the world’s largest fiat-based exchange Coinbase had also gone down for a bit,” the CoinSwitch Markets Desk highlighted.

Despite the otherwise bullish market sentiment, some cryptocurrencies did record losses on Thursday. These include Tether, Ripple, Tron, Polygon, Uniswap, Near Protocol, and Leo.

“It is worthwhile to note that Bitcoin has never crossed all-time highs in the halving event. The $69,000 (roughly Rs. 57.2 lakh) all-time high would act as a major resistance. However, in yesterday’s crypto market cycle, we also saw a glimpse of what altcoins can also do in such scenarios, as major memecoin DOGE pumped 20 percent in just an hour,” the CoinSwitch Markets Desk added.

Amid the ongoing bull run, market analysts advise caution and due diligence to the investor community.

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: Bitcoin, Ether Log Losses Alongside Most Altcoins, Only Few Cryptos See Gains

Bitcoin on Friday, February 23 reflected a loss of 1.13 percent to trade at the price point of $51,017 (roughly Rs. 42.2 lakh). This is the second consecutive day this week, that Bitcoin has logged a loss. It is, however, impressive that the asset has managed to hold ground at the mark of $51,000 (roughly Rs. 42 lakh) despite incurring losses. In the last 24 hours, the value of BTC tumbled by $375 (roughly Rs. 31,080). Market analysts believe this is a price correction phase for Bitcoin and subsequently for majority other cryptocurrencies as well.

Ether recorded a drop of 1.54 percent on Friday. With this, its trading value has come to the mark of $2,799 (roughly Rs. 2.3 lakh). Over the last day, the value of ETH has dropped by $42 (roughly Rs. 3,480).

“In the last 24 hours, the crypto market showed a slight bearish sentiment with the first net outflow from BTC ETF since January 25, 2024, signalling bearishness. Additionally, funding rates were not favorable for bulls. Technically, BTC closed in the red but stayed within its range. Meanwhile, ETH remained relatively stable,” the CoinDCX team told Gadgets360.

Majority of the popular cryptocurrencies are trading in losses as of Friday.

These include Tether, Solana, Ripple, USD Coin, Cardano, Avalanche, and Tron.

Chainlink, Polkadot, Bitcoin Cash, Litecoin, Uniswap, and Cosmos are also reeling under losses as of Friday.

The overall crypto market valuation stands at $1.95 trillion after incurring a dip of 0.25 percent in the last 24 hours, shows CoinMarketCap.

Meanwhile, only a few altcoins managed to see gains on Friday. These include Binance Coin, Polygon, Shiba Inu, Stellar, and Cronos.

“As for altcoins, BNB’s (+1.1 percent) price climbed to its highest since the FTX crash. This could be attributed to fading concerns around regulatory issues related to Binance, and an upcoming Web3 gaming project’s airdrop farming campaign for BNB holders. Additionally, AI tokens continued to surge on the back of Nvidia’s 4th quarter earnings; RNDR is up 9.3 percent while WLD (+13.9 percent) hit its record high,” Parth Chaturvedi, Investments Lead, CoinSwitch Ventures told Gadgets360.

In other news, Reddit disclosed its investment in Bitcoin and Ethereum ahead of its IPO. The company also acquired Ether and Polygon for the sale of specific virtual goods. The company has submitted its filing on the New York Stock Exchange under the ticker symbol ‘RDDT’.

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 Surges Beyond $52,000 for First Time Since 2021, Overall Crypto Chart Reflect Profits

Bitcoin on Thursday rose by 4.86 percent. The asset, for the first time in over two years, is trading at $52,044 (roughly Rs. 43.2 lakh). The capital inflows into Bitcoin ETFs as well as the approaching Bitcoin halving event are among major factors that are contributing to this rally for the reigning crown of the crypto kingdom. Currently, the total value invested in the asset has already surpassed the trillion-dollar mark. Ether, on the other hand, showed a gain of 5.75 percent. At the time of writing, Ether was trading at $2,792 (roughly Rs. 2.31 lakh). Over the last two days, the value of Ether has spiked by $150 (roughly Rs. 12,450).

“The crypto market continues to rise, with Bitcoin and Ethereum hitting their highest points of the year. This growth is fueled by increased investments in Bitcoin spot ETFs and positive sentiment about the upcoming halving event. Ethereum aims to break the $2,900 (roughly Rs. 2.4 lakh) barrier on its way to $3,300 (roughly Rs. 2.7 lakh). Altcoins have also started showing strength — tokens like STX and IMX have surged by over 25 percent in just a few days,” the CoinDCX market desk told Gadgets 360.

Solana, Ripple, , Uniswap, and Chainlink joined BTC and ETH on the profit-making side of the crypto price chart.

Cardano, Avalanche, Dogecoin, Tron, and Polkadot also registered profits.

Cryptocurrencies that saw their values fall on Thursday include USD Coin, Tether, Cosmos, and Monero.

The overall crypto market cap spiked by 5.32 percent in the last 24 hours. The sector valuation, as for now, stands at $1.95 trillion (roughly Rs. 1,61,88,578 crore), as per CoinMarketCap.

The crypto sector is garnering traction from both – the global investor community as well as the world leaders. Earlier this week, for instance, Indian Prime Minister Narendra Modi called out for global support to tackle emerging technologies like artificial intelligence (AI) and cryptocurrency.

“One event investors should pay close attention to is the recent Genesis court approval to redeem its Grayscale Bitcoin Trust holdings valued at $1.3 billion (roughly Rs. 10,790 crore) and potential impacts on the cryptocurrency market,” Shivam Thakral, CEO of BuyUcoin 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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