Tag: cardano

BTC, ETH Open With Losses, Crypto Market Cap Slips Below Trillion Dollar Mark

The month of August elevated the base prices of several cryptocurrencies, however, majority cryptocurrencies saw losses as the month inches closer to its end. Bitcoin on Monday, August 29, opened with a minor price loss of 0.74 percent. As per Indian exchange CoinSwitch Kuber, BTC is currently trading at $19,808 (roughly Rs. 15.80 lakh). On international exchanges as well, BTC failed to see any profits. As per CoinMarketCap and Binance, BTC prices are hovering around the similar mark of $19,830 (roughly Rs. 15.80 lakh).

Ether conventionally trailed behind BTC to see losses. As per Gadgets 360’s crypto price tracker, ETH is presently priced at $1,450 (roughly Rs. 1.16 lakh) after incurring a loss of 2.70 percent.

Tether, Ripple, Cardano, Solana, Polkadot, and Polygon saw losses.

Even Dogecoin and Shiba Inu failed to garner gains amid the prevailing market volatility.

“After the Fed announcement to increase the interest rates, Bitcoin, Ethereum, and most cryptocurrencies were unable to resume gains. Investors are keenly looking for improvement in the market, but there has not been little change. If BTC’s price closes below the $19,500 (roughly Rs. 15.60 lakh) level today, we could see it going even lower,” Edul Patel, CEO and co-founder of crypto investment platform Mudrex told Gadgets 360.

Among a handful of gainers, Binance Coin, Binance USD, Litecoin, Monero, and Bitcoin Cash marked their names.

“Overall, the underlying sentiment suggests a downward trend in the coming week,” Patel noted.

As per CoinMarketCap, the overall market cap of the crypto sector has slipped below the trillion-dollar mark.

Currently, the valuation of the crypto industry stands at $954.11 billion (roughly Rs. 76,35,042 crore), with a 1.29 percent decrease over the last day.

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’s Retraces to $21,000 After Friday’s Deep Price Plunge Shakes Up Market

Cryptocurrencies exhaled over the weekend after Friday’s steep price plunge as investors continued to chew over the latest inflation data and ongoing macroeconomic uncertainty. The value of Bitcoin has witnessed a 1.25 percent rise in the last 24 hours with its price now right below the $21,500 (roughly Rs. 17.17 lakh) mark across global exchanges while Indian exchange CoinSwitch Kuber values BTC at $21,465 (roughly Rs. 17.14 lakh), 1.21 percent higher in the past 24 hours. On global exchanges like CoinMarketCap, Coinbase, and Binance the price of Bitcoin stands at $21,489 (roughly Rs. 17.16 lakh).

Meanwhile, CoinGecko data shows that BTC’s value is currently 11.7 percent lower than where it was last Monday. Ether shared a similar plight, losing out a fair bit of value through Friday and Saturday before turning the scales to green again. At the time of publishing, Ether is valued at $1,603 (roughly Rs. 1.28 lakh) on CoinSwitch Kuber. In contrast, values on global exchanges see the crypto’s value at $1,607 (roughly Rs. 1.28 lakh), where the cryptocurrency’s value has moved up by 1.56 percent over the past 24 hours.

Ether’s showing over the week so far sees the cryptocurrency’s value turn red by close to 17 percent compared to its value last Monday, as per CoinGecko data.

Gadgets 360’s cryptocurrency price tracker reveals that most major altcoins had a positive showing through Sunday with all of the better-known altcoins marking gains. The global crypto market capitalisation also witnessed a 1.35 percent rise through Sunday and early Monday.

Polygon, Polkadot, Uniswap, Cosmos, Solana, Monero, Cardano, Cosmos, Avalanche, and BNB all saw a rise in value in the last 24 hours.

Memecoins Shiba Inu and Dogecoin also followed the altcoin mix with dips to show for the day although DOGE’s gains have since dwindled to switch to red. Dogecoin is currently valued at $0.06 (roughly Rs. 5.47) after losing some 0.36 percent in value over the last 24 hours, while, Shiba Inu is valued at $0.000013 (roughly Rs. 0.001065), up 2.76 percent over the past day.

“The global crypto market experienced a roller coaster ride in the past week. Bitcoin tried to break above the $25,000 (roughly Rs. 19.96 lakh) level for the first time in two months but could not succeed in retaining the gains. The drivers of the recent rise could be the global energy crisis which pushed the prices up in Europe, the US, and other countries, the upcoming Federal Reserve meeting, and the most awaited Ethereum merge,” explains Edul Patel, CEO and co-founder of crypto investment firm Mudrex speaking to Gadgets 360.

The second largest cryptocurrency, Ethereum, could not hold above the US$2,000 (roughly Rs. 1.59 lakh) level for a long time and started a downside correction. BTC and ETH are down by 13 percent and 18 percent over the past seven days. Despite the decline, both the cryptocurrencies remained above their crucial support levels at $20,000 (roughly Rs. 15.97 lakh) and $1,500 (roughly Rs. 1.19 lakh). If bulls can push BTC above the current level today, we may soon see a bounce back to $22,000 (roughly Rs. 17.57 lakh). However, ETH is trading above the $1,600 (roughly Rs. 1.27 lakh) level, signalling that buyers are not ready to give up. So, we might see a correction between the $1,650 – 1,700 (roughly Rs. 1.31 – 1.35 lakh) zone in the coming few days,” Patel added.

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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BTC Grows, ETH Dips as Crypto Price Chart Reflects Mix of Greens and Reds

The cryptocurrency market is undergoing volatility in the backdrop of back-to-back hack attacks hitting the sector. Bitcoin on Tuesday, August 9, grew by 2.87 percent. As per Indian exchange CoinSwitch Kuber, BTC is currently trading at around $25,080 (roughly Rs. 20 lakh). The oldest cryptocurrency also saw minor hikes on international exchanges. As per Binance and Coinbase, BTC rates have spiked by around 2.50 percent to trade at about $23,861 (roughly Rs. 19 lakh).

Ether moved unconventionally and failed to grab gains following BTC’s price movement. With a loss of 3.40 percent, ETH prices are currently circling the mark of $1,722 (roughly Rs. 1.35 lakh).

On the crypto price charts, nearly equal number of altcoins followed BTC and ETH to reflect gains and losses respectively.

Tether, Ripple, Cardano, Solana, and Polkadot joined BTC and reeled-in gains.

USD Coin, Binance Coin, Binance USD, Dogecoin, and Avalanche saw losses alongside Ether.

The global crypto market cap currently stands at $1.13 trillion (roughly Rs. 89,53,272 crore), with a 1.96 percent overall increase from the last day, as per CoinMarketCap.

Meanwhile, Nischal Shetty, the co-founder of WazirX crypto exchange has taken to Twitter to promote the use of blockchain networks in order to maintain transparency in businesses.

Shetty’s comments come in the backdrop of WazirX’s ongoing feud with Binance. Changpeng Zhao, the CEO of Binance has recently claimed that the acquistion of WazirX, that was announced in November 2019, did not reach a point of completion.

Zhao is seemingly trying to disassociate Binance’s branding from WazirX now that the Indian exchange is facing investigation in India over alleged money laundering charges.

Meanwhile, scammers continue to riddle the cryptosphere and it has been pointed yet again out, this time by Hong Kong publications.

The nation that recently topped the list of the world’s most crypto-ready nations has observed an alarming 105 percent hike in crypto scams. In the first six months of this year alone, the crypto community of Hong Kong has collectively lost $50 million (roughly Rs. 400 crore) to cons.

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, Most Cryptocurrencies Bounce to Recovery, Stablecoins See Small Dips

Bitcoin on Wednesday, August 3, opened with small losses. As per Indian exchange CoinSwitch Kuber, Bitcoin values hovered around $24,290 (roughly Rs. 19 lakh) after incurring a loss of 1.36 percent. On international exchanges, BTC recorded price fluctuations of about 0.13 percent to trade around the mark of $22,885 (roughly Rs. 18 lakh). Despite minor dips, BTC has continued to trade in recovered prices. Industry experts, in the beginning of the week, had predicted that if BTC keeps up this trajectory, it could soon claim the price point of $25,000 (roughly Rs. 20 lakh).

Ether bagged a tiny gain of 1.81 percent to trade at $1,738 (roughly Rs. 1.36 lakh) as per Gadgets 360’s crypto price tracker. The second-most valued cryptocurrency in the world has been reeling-in gains constantly for the past few days now that Ethereum blockchain’s eco-friendly update called the ‘Merge’ is closer to its release.

“Since the markets bottomed in mid-June, ETH has significantly outperformed BTC with the former rallying 60 percent in the same timeframe that BTC rose 16 percent , however it remains to be seen if ETH can maintain this momentum and continue the decoupling from BTC after the merge goes live which is anticipated tentatively around the September of 19,” the CoinDCX research team had noted earlier this week.

Profits dropped into the kitties of several altcoins today. These include Binance Coin, Cardano, Polkadot, Polygon, Avalanche, Tron, and Uniswap.

Stablecoins like USD Coin and Binance USD however, found themselves struck by losses.

In fact, even meme-based Dogecoin saw price slip, as opposed to its rival memecoin Shiba Inu, which registered price appreciation.

Talking to Gadgets 360, the research team of CoinDCX said that the correlation to equities and other traditional asset classes remains the main source of investors’ distrust.

“However a contrarian observation could suggest that further bullish momentum could be on the cards due to the fact that the circulating supply of stablecoins such as USDT and USDC continues to decline dramatically even as the price of Bitcoin rises, which in the past has foreshadowed parabolic BTC rallies particularly in July 2021 right before Bitcoin went from the $29,000 (roughly Rs. 23 lakh)-level all the way up to $69,000 (roughly Rs. 54 lakh),” the CoinDCX team said.

Presently, the market cap of the crypto sector stands at $1.06 trillion (roughly Rs. 83,47,073 crore) with a 0.89 percent increase over the last day, 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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BTC, ETH Retain Pumped Prices Despite Minor Dips as Crypto Chart Reflects More Reds than Greens

These last days of July are turning out to be quite the roller-coaster ride for cryptocurrencies, price-wise. After seeing profits almost consecutively in the recent days, the crypto chart showed losses for most crypto assets on Tuesday, July 26. Bitcoin dipped by over three percent to trade at $22,624 (roughly Rs. 18 lakh) as per Indian exchange CoinSwitch Kuber. Losses of up to 3.60 percent also hit Bitcoin on international exchanges. As per Binance and CoinMarketCap, BTC is currently priced around $21,110 (roughly Rs. 17 lakh).

Ether tailed behind Bitcoin to maintain its recovered prices despite seeing losses. Incurring a dip of over five percent, ETH is currently trading at $1,534 (roughly Rs. 1.22 lakh), the crypto price chart by Gadgets 360 showed.

BTC and ETH have been joined by several other popular cryptocurrencies in being impacted by losses.

These include Binance Coin, Cardano, Ripple, Solana, Polkadot, as well as Polygon.

Dogecoin and Shiba Inu also slipped down the price ladder with losses of 2.77 percent and 4.40 percent respectively.

Stablecoins such as USD Coin and Binance USD managed to get the greens on the price charts owing to miniscule gains.The overall crypto market dunked by 3.23 percent to sink below the trillion-dollar-mark.

As per CoinMarketCap, the current valuation of the crypto market stands at $972 billion (roughly Rs. 77,55,060 crore).

The dip in the crypto market comes in the backdrop of the US government mulling another interest rate hike this week.

Most economists and investors reportedly believe the central bank’s Federal Open Market Committee (FOMC) will raise interest rates by 75 basis points, or three quarters of a percentage point. Between today and tomorrow, the FOMC will conduct two meetings in Washington DC to decide on the expected interest rate changes.

“Crypto and global financial markets are poised for increased volatility and turbulence as we have significant macroeconomic events in the week ahead in the form of the FOMC. After hitting a 40 year record high Consumer Price Index (CPI) print of 9.1 percent last month, the FED is expected to implement another 75 bps rate hike to curb inflation which could negatively impact risk-on assets such as crypto. A high interest-rate environment  could potentially lead to increased selling pressure and profit booking opportunities for crypto investors who witnessed sizeable rallies in the markets recently,” the research team at CoinDCX told Gadgets 360.

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 Prices Hover Around $23,500, Majority Altcoins Swell Up With Profits

For the second consecutive day this week, the crypto price charts recorded more profits than losses. On Friday, July 22, Bitcoin opened trading with gains of over two percent. According to Indian exchange CoinSwitch Kuber, BTC is currently priced $23,757 (roughly Rs. 19 lakh). The reigning coin of the crypto world also saw small gains before stepping into the weekend. As per CoinMarketCap and CoinBase, for instance, BTC is up by 0.45 percent to trade at $22,952 (roughly Rs. 18 lakh).

Ether took a long leap in-terms of profits today and opened trading with gains exceeding seven percent. Recovered from the slump, ETH is currently priced $1,610 (roughly Rs. 1.28 lakh) as per Gadgets 360’s crypto price tracker.

Stablecoins such as Tether, USD Coin, and Binance USD joined BTC and ETH on the profit ladder.

Among other gainers, Ripple, Cardano, Solana, Polkadot, and Polygon registered their names.

Even DOGE and SHIB have remained under the profit umbrella for the second consecutive day today.

“Owing to the institutionalisation of crypto and digital assets, we have noticed less exaggerated sell-offs and a gradual decrease in volatility over time. We believe crypto is currently going through a consolidation phase and this thesis is also supported by the fact that over $10 billion (roughly Rs. 79,872 crore) worth of BTC has recently left exchanges signalling major accumulation amidst seller exhaustion trends,” the CoinDCX Research Team told Gadgets 360.

Amid the onward-and-upward market movement, only a few cryptocurrencies reflected losses next to their names on the price charts.

These include DogeFi, Bitcoin Hedge, as well as Flex.

The global crypto market cap rose by 2.38 percent over the last day, keeping its valuation beyond the mark of $1 trillion (roughly Rs. 83,45,584 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 Rise Again Pulling Up Majority Altcoins, Stablecoins See Dips

Bitcoin opened with gains on Thursday, July 14, days after being burdened with losses. The oldest cryptocurrency opened trading at $20,993 (roughly Rs. 16.70 lakh) after gaining profits by 2.33 percent on Indian exchange CoinSwitch Kuber. Even bigger gains rained over Bitcoin on international exchanges. On Binance and Coinbase for instance, BTC grew by nearly 4.20 percent to trade at $20,286 (roughly Rs. 16 lakh). In the last 24 hours, Bitcoin’s overall value has risen by 3.97 percent, showing signs of recovery.

Ether also found itself on the green side of the price chart as it opened trading on Thursday. Spiking by two percent, ETH is currently trading at $1,151 (roughly Rs. 91,800), Gadgets 360’s crypto price tracker shows.

Among other cryptocurrencies that saw gains, Binance Coin, Ripple, Cardano, Solana, Polkadot, and Tron emerged on the list.

While Shiba Inu reeled-in profits, Dogecoin remained affected by losses.

Talking of losses, Thursday did not open with gains for stablecoins.

Tether, USD Coin, and Binance USD, all saw dips.

Litecoin, Stellar, and Monero also saw losses.

The current market cap of the crypto sector stands at $897 billion (roughly Rs. 71,60,501 crore), as per CoinMarketCap.

In the coming days, the Bitcoin network may encounter some snags because majority BTC mining farms in Texas, US have halted their operations owing to extreme heat conditions. The power supplier of the state has advised BCT miners to take a breather so that power supply in the region is not disrupted.

In other news, the US Treasury has opened gateway for public suggestions on crypto laws. The last date of submitting the suggestions has been decided as August 8.

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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BTC, ETH See Gains After Weeks as It Rains Green on Crypto Price Chart

The cryptocurrency market, for the first time in weeks, opened with majority coins seeing profits on Friday, July 8. Bitcoin prices touched $22,230 (roughly Rs. 17.60 lakhs) after days of being stuck around the mark of $20,000 (roughly Rs. 16 lakh). As per Indian exchange CoinSwitch Kuber, BTC prices have risen by a significant 6.82 percent at the close of July’s first week. Unconventionally so, BTC saw even higher profits on international exchanges. On Binance and Coinbase for instance, BTC rose by over 8.25 percent to trade at $22,079 (roughly Rs. 17 lakh).

Ethereum followed Bitcoin to see profits today. As per Gadgets 360’s crypto price tracker, ETH prices are up by 6.23 percent. Ether is currently trading at $1,267 (roughly Rs. 1 lakh).

Majority other altcoins managed to see profits after a loss streak that clouded the crypto industry.

These include Binance Coin, Ripple, Cardano, Solana, Polkadot, and Avalanche — all saw escalation in prices.

Even Dogecoin and Shiba Inu reeled-in gains.

Only a handful of altcoins, like Tether, USD Coin, Monero, and Decentraland got struck by losses today.

Overall, the global crypto market cap went up by 5.54 percent over the last day. At present, it stands at $968 billion (roughly Rs. 76,75,798 crore), as per CoinMarketCap.

Meanwhile, the blockchain industry is bagging investments and regulatory laws in its favour in several parts of the world.

Italy’s Ministry of Economic Development, for instance, is planning to provide up to $46 million (roughly Rs. 364 crore) in subsidies for developing projects in the blockchain and Web3 sector.

It is also noteworthy that Web3 projects have caught the eye of hackers and cyber exploiters around the world.

As per a report by CertiK, Web3 projects have lost more than $2 billion (roughly Rs. 15,844 crore) to hacks and exploits in the first six months of 2022— more than all of 2021 combined.

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 Recovers to $20,000 After Hitting New 18-Month Low While Altcoins Cope With Big Weekend Swings

Bitcoin tumbled to its weakest level in 18 months on Saturday before mounting somewhat of a recovery through Sunday although experts believe that another slide soon could be in the offing, extending a slide on investor worries about growing troubles in the industry and the general pull-back from riskier assets. The price of the largest cryptocurrency by market capitalisation initially slipped to almost $19,618 (roughly Rs. 15.2 lakh) levels on early Monday before mounting a recovery. As things stand, BTC’s price is hovering around the $20,000 (roughly Rs. 15.54 lakh) mark across global exchanges while Indian exchange CoinSwitch Kuber values Bitcoin at $21,526 (roughly Rs. 16.7 lakh), up by 8.19 percent in the past 24 hours.

On global exchanges like CoinMarketCap, Coinbase, and Binance the price of Bitcoin stands at $20,007 (roughly Rs. 15.54 lakh) while CoinGecko data shows that BTC’s value is currently in the red by 24.7 percent week-to-day.

While Bitcoin managed a bit of hold some ground around the $20,000 (roughly Rs. 15.5 lakh) mark, Ether managed a recovery too. The second most popular cryptocurrency had fallen to around $951 (roughly Rs. 74,000) mark on Saturday before seeing an upside on Sunday. At the time of publishing, Ether is valued at $1,161 (roughly Rs. 90,000) on CoinSwitch Kuber while values on global exchanges see the crypto’s value at $1,081 (roughly Rs. 84,000), where the cryptocurrency has gained 4.93 percent over the past 24 hours.

Despite Ether’s upside over the past 24 hours the cryptocurrency’s value remains in the red by over 25.7 percent when compared to last week’s value, as per CoinGecko data.

Gadgets 360’s cryptocurrency price tracker reveals a similar story for most major altcoins too — as the global crypto market capitalisation rose by 8.2 percent in the last 24 hours. BNB, Polkadot, Avalanche, Solana, Uniswap, and Chainlink have all gained in value, recovering from Saturday’s dip.

Memecoins Shiba Inu and Dogecoin saw big gains too during the recovery. Dogecoin is currently valued at $0.06 (roughly Rs. 5) after gaining more than 10.63 percent in value over the last 24 hours, while, Shiba Inu is valued at $0.0000085 (roughly Rs. 0.000662), up by 3.28 percent over the past day.

“Prices of major cryptocurrencies picked up slightly over the weekend following a week of uncertainty. Despite market turmoil, a recent Bank of America survey of more than 1,000 digital asset users indicated that investors are still optimistic about the future of crypto, with 91 percent of those surveyed saying they will continue buying crypto in the next six months. Analysts have pointed out that there are catalysts in the near future that will help stabilise crypto price – this includes the much anticipated Ethereum merge expected for the later half of this year,” the research team at CoinDCX tells Gadgets 360.

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 Price Tank by Close to 5 Percent as Traders Fail to See Immediate Upside

Bitcoin and the broader cryptocurrency market once again entered a sharp correction after a brutal sell-off on Wall Street on Tuesday. In terms of value, Bitcoin’s price failed to stay above the $40,000 (roughly Rs. 30.5 lakh) mark across exchanges like CoinMarketCap, Coinbase and Binance. At the time of writing, the value of Bitcoin has dipped by 3.43 percent in the past 24 hours and stands at $40,965 (roughly Rs. 31.5 lakh) on Indian exchange CoinSwitch Kuber.

On global exchanges, the price of Bitcoin stands at $38,437 (roughly Rs. 29.5 lakh) falling by 5.06 percent in value over the past 24 hours. As per CoinGecko data, BTC has fallen by 7.5 percent in value week-to-day.

Ether met with a similar shakedown on the day, with on-chain data studied by CoinTelegraph suggesting that there could be more dips in store as the Ethereum network’s total value locked (TVL) continues to flatten. At the time of publishing, Ether is valued at $3,031 (roughly Rs. 2.5 lakh) on CoinSwitch Kuber while values on global exchanges see the crypto’s value at $2,841 (roughly Rs. 2.2 lakh), where the coin has fallen by 5.21 percent over the past 24 hours.

CoinGecko data reveals that the cryptocurrency’s value has taken a fairly bad fall over the past week at 8.5 percent over the past week.

As per Gadgets 360’s cryptocurrency price tracker, BTC and Ether weren’t the only big losers on the day as the global crypto market cap fell by a heavy 5.05 percent in the past 24 hours. Monero, Terra, Polkdadot, Polygon, and Cardano were among the biggest losers on the day, while Avalanche, Uniswap, Solana, Cosmos, and Binance Coin also marked losses.

Shiba Inu and Dogecoin, have also had a dismal day of trading. Dogecoin was flying at one point yesterday before dropping down to a current value of $0.15 (roughly Rs. 11.5) after losing 8.53 percent over the last 24 hours, while, Shiba Inu is valued at $0.000025 (roughly Rs. 0.002), down by 2.55 percent over the past day.

“Despite prevailing headwinds on the economic front, on a fundamental level, the digital assets space continues to grow at a rapid pace. Most recently, Fidelity rolled out a new 401(k) offering in the US, enabling participants to put a slice of their retirement money into Bitcoin. Spot Bitcoin ETFs are also finally making their debut in Australia this week, offering investors in the country direct access to the crypto. The medium and long-term outlook for crypto remains a bright one, with adoption — both institutional and retail — continuing to increase exponentially,” the research team at CoinDCX tells Gadgets 360.

Meanwhile, UK-based Standard Chartered Bank also made crypto news headlines on Tuesday announcing its entry into the metaverse. The London-headquartered lender has purchased a chunk of virtual real estate in the Mega City district of The Sandbox metaverse. In the digital world, this area is reportedly a culture hub inspired by talents from Hong Kong. The move is initiated by SC Ventures, the innovation, fintech investment, and ventures arm of the Standard Chartered Bank. The financial giant is looking to expand services and experiences for its customers.

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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