Tag: shiba inu

Bitcoin, Ethereum, Majority Tokens Record Profits as Crypto Price Charts Turn Green

After a day of trading lowly, majority cryptocurrencies stepped into Tuesday, October 4 with gains. Bitcoin, with a price hike of 1.96 percent, opened trading at $19,554 (roughly Rs. 15.80 lakh) as per Gadgets 360’s crypto price tracker. Profits on a similar scale also hit Bitcoin on international exchanges. As per Binance and CoinMarketCap for instance, Bitcoin is trading at a price point of $19,596 (roughly Rs. 16 lakh) after garnering gains of up to 2.20 percent. Experts have predicted that if BTC prices exceed the price point of $20,000 (roughly Rs. 16.30 lakh), majority cryptocurrencies will see long-term recovery.

Ether reeled-in bigger gains than Bitcoin. Almost two weeks after the launch of Ethereum’s eco-friendly upgrade called the Merge, ETH prices have touched the price point of $1,322 (roughly Rs. 1.07 lakh). As per Gadgets 360, ETH prices have spiked by 2.25 percent.

Majority altcoins followed BTC and ETH on the gain trail.

These include stablecoins such as Tether, Binance USD, and Ripple as well as other altcoins including Binance Coin, Cardano, Solana, Polkadot, and Polygon.

Meme coins Shiba Inu and Dogecoin also saw price hikes.

The global crypto market cap rose by 1.75 percent to reach the valuation of $943.77 billion (roughly Rs. 7,697 crore), as per CoinMarketCap.

Meanwhile, only Tron, Stellar, Bitcoin SV, and Terra emerged as loss-making altcoins.

Amid the prevailing market volatility and low-risk appetite among investors, the number of Bitcoin ATMs have also gone down globally. Nearly 800 ATMs were pulled out of the global crypto network in September alone.

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 Claws Back to $19,300 While Ether Begins Week Post ‘Merge’ on a High

Bitcoin and the rest of the crypto market saw a bit of a bounce in prices on Tuesday as riskier asset classes were back in flavour ahead of the US Federal Reserve’s monetary policy meeting later in the day. As things stand, the value of Bitcoin has witnessed a rise of 2.85 percent in the last 24 hours with its price now around the $19,300 (roughly Rs. 15.38 lakh) mark across global exchanges while Indian exchanges like CoinSwitch and CoinDCX value BTC at $21,084 (roughly Rs. 16.8 lakh), 0.82 percent higher than that on Monday morning.

On global exchanges like CoinMarketCap, Coinbase, and Binance the price of Bitcoin stands at $19,353 (roughly Rs. 15.42 lakh) while CoinGecko data shows that BTC’s value now sit 13.5 percent lower than where it stood last Tuesday.

Ether has also seen a rise through early Tuesday after being on a spiral since the ‘Merge’. Ether is currently up by close to 4 percent over the past 24 hours, trading in the $1,350 (roughly Rs. 1.07 lakh) range across global exchanges. Meanwhile on Indian exchanges, ETH is valued at $1,493 (roughly Rs. 1.19 lakh) where values are up by 3.18 percent over the past day.

Gadgets 360’s cryptocurrency price tracker reveals that most major altcoins had a similar upside over the past day. The global crypto market capitalisation also witnessed a rise of 2.56 percent through late Monday and early Tuesday.

Cosmos, Solana, Cardano, Polygon, TRON, Uniswap, Monero, Avalanche, Chainlink, and BNB all saw heavy gains over the last 24 hours.

Memecoins Shiba Inu and Dogecoin picked up their prices too. Dogecoin is currently valued at $0.05 (roughly Rs. 4.65) after adding 2.44 percent in value over the last 24 hours, while, Shiba Inu is valued at $0.000011 (roughly Rs. 0.000868), up 1.33 percent over the past day.

“Bitcoin breached a major psychological support of $20,000 (roughly Rs. 15.97 lakh) as it tipped towards its 3 month low while there was a 60 percent increase in trading volume due to increased volatility amidst a negative macroeconomic backdrop,” the research team at CoinDCX tells Gadgets 360.

“The week started with tumbling in crypto markets due to two broad reasons, the first being the upcoming FOMC meeting this Wednesday where a 100 bps is still on the table with a higher probability of a 75 bps rate hike. Secondly, as the Bitcoin network difficulty reaches an all-time high (32.045t), higher computational power is required to mine Bitcoin which affects the profitability of the miners and creates selling pressure. Amid the bearish price action, 1,26,682 traders representing $417 million (roughly Rs. 3,323 crore) were liquidated in the last 24 hours.”

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 Hovers Below $20,000 While Ether Continues to Add to Its Price Before the Merge

Bitcoin, the world’s largest cryptocurrency by market capitalisation, led other crypto assets in go-slow mode after losing over 4 percent in value over the weekend. However, things have begun looking better to begin the week already. The value of Bitcoin has witnessed a minor climb over the last day by 0.65 percent with its price continuing to hover below the $20,000 (roughly Rs. 15.97 lakh) mark across global exchanges while Indian exchange CoinSwitch Kuber values BTC at $19,873 (roughly Rs. 15.97 lakh), 0.65 percent higher than yesterday.

On global exchanges like CoinMarketCap, Coinbase, and Binance the price of Bitcoin stands at $19,875 (roughly Rs. 15.87 lakh) while CoinGecko data shows that BTC’s value is currently 1.1 percent higher than where it stood last Monday.

Heading into the week of the much-awaited ‘Merge’, Ether on the other hand has continued to climb in value, managing to add more to its price over the weekend. As things stand, Ether is valued at $1,576 (roughly Rs. 1.25 lakh) on CoinSwitch Kuber while values on global exchanges also see the crypto’s value at $1,576 (roughly Rs. 1.25 lakh), where the cryptocurrency’s value has gained 1.7 percent over the past 24 hours.

Ether’s showing over the latter stages of last week sees the cryptocurrency’s value again move a lot higher than where it was last week, CoinGecko data suggests that the world’s second-largest crypto asset has moved up 9.5 percent in value week-on-week.

Gadgets 360’s cryptocurrency price tracker reveals that most major altcoins had a day of minor gains over the past 24 hours. The global crypto market capitalisation also witnessed a substantial 0.81 percent increase through late Sunday and early Monday.

Polkadot, Uniswap, Cosmos, Solana, Monero, Cosmos, Avalanche, Cardano, Polygon, TRON, and BNB all saw minor gains in the last 24 hours.

Memecoins Shiba Inu and Dogecoin also followed most altcoins with minor ups in value. Dogecoin is currently valued at $0.06 (roughly Rs. 5.3) after gaining 0.85 percent in value over the last 24 hours, while, Shiba Inu is valued at $0.000013 (roughly Rs. 0.001018), up 3.76 percent over the past day.

“The global crypto market has been on a bearish trend as sellers have become more active since the past week. Bitcoin has been struggling to cross above the $20,000 (roughly Rs. 15.97 lakh) level. BTC is currently nearly 71 percent down from its all-time high. If BTC can trade above the overhead resistance level, bulls might attempt to recapture the $20,000 price level soon. But if BTC keeps facing continued rejections, it might dip to the $18,000 (roughly Rs. 14.37 lakh) support level,” explains Edul Patel, CEO and co-founder of crypto investment firm Mudrex speaking to Gadgets 360.

“The second largest cryptocurrency, Ethereum, is also struggling near the $1,600 (roughly Rs. 1.27 lakh) resistance level. A bearish trend at the $1,400 (roughly Rs. 1.11 lakh) zone can result in a price drop of ETH to the next support level at $1,260 (roughly Rs. 1 lakh). Overall, a bearish trend persists in the crypto market, and we might see a correction in the coming weeks,” Patel adds.

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 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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