Tag: elrond

Bitcoin Drops to $22,000 Mark, Most Altcoins Lose Steam Amid Silvergate Chaos

The past 24 hours led to a drastic change in crypto prices after chaos unfolded around Silvergate bank, and its link to the bankrupt FTX exchange came under the scanner in the US. Bitcoin dropped by 5.12 percent on national as well as international exchanges on Friday, March 3. The cryptocurrency is currently trading at $22,325 (roughly Rs. 18 lakh) — that marks a two-week low for the digital asset. Over the last day, the value of BTC has sunk by $1,160 (roughly Rs. 95,520).

Ether tumbled down the price ladder by 5.25 percent on Friday. The second most valued cryptocurrency is presently trading at $1,568 (roughly Rs. 1.29 lakh), showed the crypto price tracker by Gadgets 360. In the 24 hours that have gone by, ETH shed $78 (roughly Rs. 6,422) from its pricing.

“The Silvergate fallout has contributed to this decline. Several other factors have also led to a decrease in the value of numerous cryptocurrencies over the last 24 hours, including the release of US’ manufacturing data and uncertainties about access to banking for crypto companies in the US,” Edul Patel, the CEO and co-founder of Mudrex told Gadgets 360.

Stablecoins such as Tether, USD Coin, and Binance USD — all recorded losses amid the market turmoil.

Value dips also struck an array of other altcoins including Binance Coin, Cardano, Polygon, Polkadot, and Litecoin.

Solana particularly witnessed a low-trading sentiment this entire week. “SOL was down by 12 percent after the Solana blockchain witnessed yet another outage,” Parth Chaturvedi, Crypto Ecosystem Lead, CoinSwitch told Gadgets 360.

Only Augur and FLEX reflected miniscule profits.

The overall crypto market valuation dropped by 4.45 percent in the last 24 hours. As per CoinMarketCap, the market cap stands at $1.03 trillion (roughly Rs. 84,46,588 crore).

“As US Bond Market’s Yield curve inversion continues to point at an H2 recession, globally, investors seem to be turning increasingly ‘risk off’, building cash and short-term US treasury positions. Although a pleasant surprise came from Chinese manufacturing data yesterday, the global economic recovery is still not out of the woods,” Chaturvedi added.

“Big crypto-specific development to watch out for is the unfolding of events at Silvergate, as the crypto-friendly bank failed to file its annual report to the SEC, and its stock has come under heavy selling pressure,” he said. “Markets are watching with bated breath to see if there’s another domino left to fall post the FTX fiasco.”

After facing headwinds in India last year, Xiaomi is all set to take on the competition in 2023. What are the company’s plans for its wide product portfolio and its Make in India commitment in the country? We discuss this and more on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

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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For details of the latest launches and news from Samsung, Xiaomi, Realme, OnePlus, Oppo and other companies at the Mobile World Congress in Barcelona, visit our MWC 2023 hub.

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Bitcoin Continues to Trade in Small Losses, Stablecoins Record Dips

Majority cryptocurrencies recorded losses on Tuesday, March 1. Bitcoin opened with a price dip of around 0.30 percent on national as well as international exchanges. The value of BTC continues to trade at the price point of $23,422 (roughly Rs. 19 lakh), a value mark it has remained stuck to since the last week. In the last 24 hours, the value of BTC dipped by $15 (roughly Rs. 1,235). With the top-most cryptocurrency garnering losses on the regular, it has an evident impact on the overall crypto chart.

All popular stablecoins including Tether, USD Coin, Ripple, and Binance USD reflected losses on the crypto price tracker by Gadgets 360.

Notably, the legally challenged Binance USD (BUSD) token, that will be delisted from Coinbase starting March 13, did not see any major change in its value despite Coinbase’s decision.

At the time of writing, BUSD was trading at $1 (roughly Rs. 82) with no significant change in the last 24 hours.

Losses struck an array of other popular altcoins like Binance Coin, Cardano, Polygon, Solana, and Polkadot as well.

Dogecoin and Shiba Inu, both of the memecoins, also failed to bag any gains.

“Most cryptocurrencies were in the red on Tuesday, following the release of U.S. Consumer Confidence data for February revealed a decline. For BTC, significant movements are not yet on the horizon. Investors and traders might take some time to process the economic data,” Edul Patel, the CEO and co-founder of Mudrex told Gadgets 360.

A small number of cryptocurrencies managed to record profits, but only minor.

Ether for instance, instead of following BTC on the loss-making side of the price charts, managed to reel-in gains.

With a profit of 0.26 percent, the price of ETH touched the mark of $1,635 (roughly Rs. 1.35 lakh). Over the past day, the value of ETH increased by $7 (roughly Rs. 580).

Along with ETH, Litecoin, Uniswap, Chainlink, Monero, and Elrond saw gains.

Flex, Floki Inu, Circuits of Value, SushiSwap, and Nem retained small profits on the price chart.

Overall, the global crypto market valuation rose by 1.12 percent in the last 24 hours to stand at $1.08 trillion (roughly Rs. 89,26,560 crore), showed the data by CoinMarketCap.

Despite Bitcoin’s sluggish market movement in recent days, experts believe, it remains to be a useful commodity.

“The number of Bitcoins having a lifespan of more than a year has been steadily rising, creating significant market accumulation. Even though its price just fell, its accumulation rate looks to be larger than it was during the previous dismal period of 2017. This indicates that Bitcoin is still a useful commodity for many market players,” the CoinDCX research team told Gadgets 360.

After facing headwinds in India last year, Xiaomi is all set to take on the competition in 2023. What are the company’s plans for its wide product portfolio and its Make in India commitment in the country? We discuss this and more on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

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. 

Affiliate links may be automatically generated – see our ethics statement for details.

For details of the latest launches and news from Samsung, Xiaomi, Realme, OnePlus, Oppo and other companies at the Mobile World Congress in Barcelona, visit our MWC 2023 hub.

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Bitcoin, Most Cryptocurrencies Register Losses, Total Sector Valuation Also Drops

The festive cheer has failed to penetrate the crypto market as majority cryptocurrencies opened with losses on Friday, October 21. Less than three days before Diwali, Bitcoin opened with a loss of 1.01 percent in India. As per Gadgets 360’s crypto price tracker, BTC values currently stands at the price point of $19,063 (roughly Rs. 15.77 lakh) in India. Even on international exchanges, BTC could not manage to bring in profits. As reflected by Binance and CoinMarketCap, BTC values are hovering around the mark of $19,076 (roughly Rs. 15.78 lakh) with a loss of 0.30 percent.

Ether values also slipped by 0.38 on Friday. As per the Gadgets 360 crypto price tracker, ETH is trading at $1,287 (roughly Rs. 1.06 lakh).

Both top two cryptocurrencies last created their respective all-time highs (ATHs) on November 9 last year. While BTC’s last ATH was around $68,000 (roughly Rs. 56 lakh), ETH’s figure was $4,700 (roughly Rs. 3.47 lakh).

As per their current market movement, the chances of BTC and ETH even coming close to their previous ATHs seems like a far-away possibility.

Meanwhile, majority cryptocurrencies tailed meekly behind BTC and ETH to register losses today.

These include Tether, USD Coin, Binance Coin, Ripple, Cardano, and Solana.

Dogecoin and Shiba Inu also witnessed dips alongside Avalanche, Litecoin, Chainlink, as well as Cosmos.

“Monitoring US’ inflation and macroeconomic variables will be key to determining capital allocation for investors and correspondingly be an indication as to when the equity markets and by extension the crypto bottom hits in case it hasn’t already, as price action is still currently highly inversely correlated with the DXY (Dollar Strength Index),” the CoinDCX research team told Gadgets 360.

In the last 24 hours, the total valuation of the crypto sector slid down by 0.58 percent.

At this point, the total market cap of the crypto industry stands at $914.43 billion (roughly Rs. 75,66,574 crore). The valuation fell from its trillion-dollar mark in September.

Only a handful of cryptocurrencies managed to see gains today. These include Tron, Bitcoin Cash, Elrond, Iota, and Dash.

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 Exceeds $30,000 in Value as Overall Crypto Price Chart Reflect Gains for Most Cryptocurrencies

After being red in losses for most of this week, the crypto price charts seem to be jumping back to health at a gradual pace. Bitcoin on Friday, May 20, opened trading at $31,728 (roughly Rs. 24.5 lakh) with minor gains of 2.60 percent as per Indian exchange Coinswitch Kuber. Gains of over three percent also added to Bitcoin values on international exchanges. Its price currently stands around $30,140 (roughly Rs. 23 lakh) on exchanges such as Binance and CoinMarketCap.

Ether followed Bitcoin up the price ladder. ETH saw gains of 2.43 percent that rose its value to $2,124 (roughly Rs. 1.65 lakh), Gadgets 360’s crypto price tracker showed.

As for now, both of the top two cryptocurrencies are a long way from their last All Time Highs of $67,567 (roughly Rs. 52 lakh) and $4,812 (roughly Rs. 3.75 lakh) that they respectively attained in November last year.

Meanwhile, other altcoins that kickstarted the weekend with gains include Binance Coin, Ripple, and Polkadot.

Surprisingly, profits also found their way to meme-based Dogecoin and its rival Shiba Inu.

A bunch of stablecoins however, did see small but significant losses. These include Tether, USD Coin, and Binance USD.

In fact, altcoins such as Solana, Avalanche, and Elrond also found themselves affected with minor losses.

Terra, after its recent, rather harrowing downfall from being the eight largest cryptocurrency in terms of market cap, is trading at $0.00014 (roughly Rs. 0.010777).

The overall market cap of the crypto sector stands at $1.27 trillion (roughly Rs. 9,90,70,706 crore) as per CoinMarketCap.

More investments are coming to the crypto sector, despite its recent slowdown.

In a bid to accelerate research and development in this consumer-centric industry, Andreessen Horowitz (a16z) has pledged a fund of $600 million (roughly Rs. 4,661 crore).

In its recent ‘State of Crypto’ report, a16z had acknowledged that the route for growth for the crypto sector is tough. Despite the coming turbulent days, the firm has been opening floodgates of investments in the crypto and blockchain-based sectors.

Meta has also filed for a patent to operate ‘Meta Pay’, a crypto-supporting online payments service.

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. 

Affiliate links may be automatically generated – see our ethics statement for details.

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