Tag: usd coin

Bitcoin Sinks to $26,000 Mark First Time Since June, Most Cryptocurrencies Record Losses

Bitcoin, in the last 24 hours, sunk to its lowest trading value since June this year. The value of Bitcoin stands at $26,489 (roughly Rs. 21.9 lakh) on Friday. This is after the asset registered a loss of 7.52 percent over the last day. Price wise, Bitcoin registered a plunge of $2,065 (roughly Rs. 1.7 lakh) in one day. Experts have noted that a number of macro-economic reasons have driven Bitcoin and the overall crypto market to the edge of seeing record losses for this year.

“According to market data, investors have registered $1 billion (roughly Rs. 8,308 crore) in losses in crypto liquidations in the last 24 hours. There has been a potential devaluation of the Chinese Yuan, which is trading at the weakest level since 2007. Historically, when China devalued the Yuan last time in August 2015, BTC prices witnessed a plunge,” Parth Chaturvedi, Investments Lead at CoinSwitch Ventures, told Gadgets 360. The bankruptcy of Chinese property giant Evergrande has also impacted the investor sentiment, leading to losses.

Ether, with a drop of 6.92 percent, is currently trading at $1,676 (roughly Rs. 1.39 lakh). Over the last day, the second largest cryptocurrency after Bitcoin lost $122 (roughly Rs. 10,130) pricewise.

Majority cryptocurrencies are reeling under losses on Friday. These include Binance Coin, USD Coin, Ripple, Cardano, Solana, Dogecoin, Tron, Polkadot, and Polygon.

Other loss-making altcoins include Shiba Inu, Litecoin, Avalanche, and LEO.

The valuation of the crypto market, at present, stands very close to its trillion-dollar mark, which is psychologically significant for the investor community. In the last 24 hours, the crypto market cap dropped by 7.29 percent to stand at $1.05 trillion (roughly Rs. 87,24,334 crore), as per CoinMarketCap.

“The mass sell-off in the crypto market has led to a plunge in the crypto fear and greed index, which is down 13 points and has entered the fear zone after over five months, with a score of 37/100,” Chaturvedi noted.

Along with troubles coming from China, other factors are also impacting the crypto market.

Market participants, for example, are closely monitoring their movements in response to the recent release of the Federal Open Market Committee (FOMC) minutes.

“Bearish sentiment increased following the latest FOMC minutes, where the Federal Reserve hinted at further rate hikes,” the CoinDCX team told Gadgets 360.

In addition, the problematic launch of Shiba Inu’s Shiberium layer-2 blockchain this week, where $1.7 million (roughly Rs. 14 crore) worth of ETH got stuck on the Shibarium bridge, also contributed to the fear quotient shooting up among investors.

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.

Check out our Latest News and Follow us at Facebook

Original Source

Bitcoin Price Fails to See Big Movement Over Weekend, Ether Sees Dip with Most Altcoins

Bitcoin is currently trading at $29,205 (roughly Rs. 24.3 lakh) with a small loss of 0.76 percent on the crypto chart on Monday, August 14. Over the weekend, the world’s largest cryptocurrency did not manage to see any change in its pricing, owing to seemingly slowed down trading activities. For the fourth week now, the price of BTC has continued to stay under the price mark of $30,000 (roughly Rs. 24.6 lakh). With BTC seeing losses, most cryptocurrencies are also trading lowly on the price charts.

“Bitcoin futures trading volumes are at their lowest levels since December 2022. This shows that traders may have been avoiding making moves at the current levels,” the CoinDCX research team told Gadgets 360.

Ether slipped 0.45 percent in value on Monday. ETH, at the time of writing, was trading at the price of $1,840 (roughly Rs. 1.52 lakh).

“BTC and ETH continue to trade within their respective narrow ranges. The crypto market has traded sideways with downward pressure over the weekend and the last 24 hours. The market, overall, seems to be headed toward price stability,” Parth Chaturvedi, Investments Lead, CoinSwitch Ventures told Gadgets 360.

Following Bitcoin and Ether, majority altcoins registered losses on Monday.

These include stablecoins such as Tether, Ripple, USD Coin, Binance USD alongside memecoins Shiba Inu and Dogecoin.

Price dips also struck Cardano, Solana, Tron, Polygon, Polkadot, Litecoin, and Avalanche among other altcoins.

The overall crypto market valuation, in the last 24 hours, slipped by 0.10 percent to sit at the mark of $1.17 trillion (roughly Rs. 97,09,209 crore), showed CoinMarketCap.

Meanwhile, the crypto fear and greed index held steady at 54/100 throughout the weekend. The new week, however, did start with a slight dip of four points, which positioned the index at a 50/100, still within the neutral zone.

Among profit-minting cryptocurrencies, Binance Coin, Wrapped Bitcoin, Monero, Near Protocol, and Zcash marked their presence.

SushiSwap, Cartesi, Spell Token, and BrainTrust also saw small gains.

In other news, Coinbase unveiled its Base blockchain on Ethereum over the weekend.

The weekend also saw an exploit targeting Libbitcoin, which resulted in over $900,000 (roughly Rs. 7.4 crore) worth of Bitcoin being stolen from users’ wallets.

Sam Bankman-Fried had been trying against the revocation of his bail. However, it has been revoked, and SBF is back in jail before his trial in October.

Edul Patel, the CEO of Mudrex crypto investment platform also highlighted, “Hedera also experienced a remarkable price increase of roughly 15 percent within the past 24 hours, potentially attributed to the launch of their social networking platform, Calaxy.”

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.

Check out our Latest News and Follow us at Facebook

Original Source

Bitcoin, Ether Prices Stay Low as Crypto Market Continues to Be Volatile

Bitcoin on Friday, August 4, recorded a small profit of 0.16 percent, despite which it remained under the price mark of $30,000 (roughly Rs. 24.6 lakh). The most expensive cryptocurrency, BTC is currently trading at the price point of $29,133 (roughly Rs. 24 lakh). Industry analysts have noted that Bitcoin is facing an increasingly rising selling pressure. Experts have also noted that the price of Bitcoin is weirdly not being affected by macroeconomic factors like the rise in jobless claims and the US Treasury yield reaching a 10-year high.

Ether recorded a loss of 0.30 percent on Friday. This has brought its trading value to $1,831 (roughly Rs. 1.5 lakh). With this, both Ether and Bitcoin wrap up the first week of August with a rather stable price action.

As of Friday, more cryptocurrencies reflected losses alongside ETH on the price chart.

These include Ripple, Dogecoin, Cardano, Solana, Polygon, and Polkadot.

Other loss-making cryptocurrencies include Bitcoin Cash, Avalanche, Chainlink, Stellar, and Uniswap.

“All of the top ten cryptos by market capitalisation have performed in a tight range since yesterday. Both BTC and ETH have showcased rather stable price action during this week. In terms of stablecoins, Tether (USDT) has seen massive selling pressure as investors started shifting toward DAI (+0.2 percent) and USDC, on DeFi platforms like Curve Finance and Uniswap. However, despite the imbalances, USDT has not lost its peg and currently trades at 99.9 cents,” Parth Chaturvedi, Investments Lead, CoinSwitch Ventures told Gadgets 360.

The overall crypto market cap, that currently stands at $1.17 trillion (roughly Rs. 96m84,207 crore), slipped by 0.08 percent in the last 24 hours, as per CoinMarketCap. The crypto greed and fear index is up by 2 points and is currently in the neutral zone with a score of 54/100.

Meanwhile, among profit-making cryptocurrencies, Tether, Binance Coin, and USD Coin marked their presence.

Tron, Shiba Inu, Leo, Binance USD, and Zcash also recorded minor gains.

“There has been a lack of fresh money flowing into the crypto market. On a positive note, the chances of a spot Bitcoin ETF being launched in the US this year have improved significantly, from 50 percent to an encouraging 65 percent as per Bloomberg Intelligence. Companies such as BlackRock, Fidelity, WisdomTree, and Valkyrie have applied to create a spot Bitcoin ETF, and that of BlackRock is particularly interesting. At this point, investors are waiting for more clarity on the regulatory environment and the potential approval of a Bitcoin ETF in the United States,” the CoinDCX research team told Gadgets 360.

Samsung launched the Galaxy Z Fold 5 and Galaxy Z Flip 5 alongside the Galaxy Tab S9 series and Galaxy Watch 6 series at its first Galaxy Unpacked event in South Korea. We discuss the company’s new devices and more on the latest episode of 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.

Check out our Latest News and Follow us at Facebook

Original Source

Crypto Market Watch: Bitcoin, Ether Prices Down Amid Rise in Value of Stablecoins

Bitcoin on Friday registered a small loss of 0.37 percent to trade at $29,200 (roughly Rs. 24 lakh) as the overall crypto price chart reflected what appeared to be almost equal proportions of profits and losses for several cryptocurrencies. The value of Bitcoin has been volatile for the past few days. While the market has been oscillating sideways for days, factors like the US government raising the interest rates once again have also impacted the market movement of the world’s most widely used cryptocurrency. Over the past 24 hours, the value of BTC has fallen by $165 (roughly Rs. 13,570).

Ether registered a loss of 0.40 percent on Friday. The second-most valued cryptocurrency after Bitcoin, ETH is currently trading at $1,860 (roughly Rs. 1.53 lakh), as per the crypto price tracker by Gadgets 360.

“This dip follows news about the Bank of Japan’s consideration of changes to its yield curve control policy to manage real-time interest rates. Over the past 24 hours, BTC remained relatively unstirred by the interest rate hikes from both the US central bank and the European Central Bank. However, if BTC fails to surpass the $29,300 (roughly Rs. 24 lakh) resistance level, there could be further downward movement,” Edul Patel, CEO of Mudrex crypto investment firm told Gadgets 360.

Dogecoin, Litecoin, Polygon, Polkadot, Shiba Inu, and Avalanche — all recorded losses alongside BTC and ETH on Friday.

Price dips were also registered by Cosmos, Monero, and Elrond, as the overall valuation of the crypto market slipped by 0.61 percent in the last 24 hours. Its capitalisation, at the time of writing, stood at $1.18 trillion (roughly Rs. 97,04,768 crore), according to CoinMarketCap.

The fear and greed index, up by a point from yesterday, continues to remain in the neutral zone with a score of 52/100. “The crypto market has traded in a tight range in the last 24 hours. The Federal Reserve’s interest rate hike, followed by a higher-than-expected US GDP, raises concerns about prolonged high rates. This may impact the market’s future price action, as investors may begin to move towards ‘risk-off’ asset classes,” Parth Chaturvedi, Investments Lead, CoinSwitch Ventures told Gadgets 360.

On the other hand, stablecoins were trading in profits on Friday. These included Tether, USD Coin, and Binance USD. Binance Coin, Cardano, Solana, Tron, Stellar, and Chainlink, also managed to mint small gains.

In other news, the US House Agriculture Committee has advanced the Financial Innovation Technology for the 21st Century Act, which would create a federal regulatory framework for crypto in the US. The bill proposes to give the Commodity Futures Trading Commission (CFTC) primary regulatory authority over crypto exchanges and other trading platforms. After being approved by a voice vote, it will now go to the full House of Representatives for a vote.

Samsung launched the Galaxy Z Fold 5 and Galaxy Z Flip 5 alongside the Galaxy Tab S9 series and Galaxy Watch 6 series at its first Galaxy Unpacked event in South Korea. We discuss the company’s new devices and more on the latest episode of 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.

Check out our Latest News and Follow us at Facebook

Original Source

Crypto Market Watch: Bitcoin Hangs on to $30,000 Mark as Solana, Polygon, Tron Join Most Altcoins in Losses

For the second day this week, the crypto price chart reflected more losses than profits on Wednesday, July 19. A loss of 0.28 percent was registered by Bitcoin, the trading value of which barely managed to hang on to the mark of $30,000 (roughly Rs. 24 lakh). At the time of writing, the value of BTC stood at the price point of $30,023 (roughly Rs. 24.6 lakh). With this, the most expensive cryptocurrency has recorded a loss of $134 (roughly Rs. 11,000) over the last 24 hours.

“BTC has experienced a three-day decline today. Despite the bearish pressure aiming to drag BTC down, bullish forces persistently strive to maintain its position above $30,000, keeping its year-to-date gains stand at an impressive 84 percent,” Edul Patel, the CEO of crypto investment firm Mudrex, told Gadgets 360.

Losses recorded by Bitcoin impacted the market movement of several altcoins on Wednesday.

These include Binance Coin, Solana, Dogecoin, Tron, Polygon, and Polkadot.

Other cryptocurrencies to have slipped down the price ladder today include Avalanche, Bitcoin Cash, Shiba Inu, Chainlink, Uniswap, and Cosmos.

Ether, meanwhile, recorded a small profit of 0.24 percent on Wednesday. The second largest cryptocurrency after Bitcoin, ETH is trading at $1,912 (roughly Rs. 1.56 lakh).

Other altcoins rallying with profits include Tether, Ripple, USD Coin, Cardano, and Litecoin.

Small profits were also minted by Binance USD, Stellar, Near Protocol, and Bitcoin SV.

The overall crypto market valuation rose by 0.42 percent in the last 24 hours to sit atop the capitalisation of $1.21 trillion (roughly Rs. 99,34,039 crore), as per CoinMarketCap.

The crypto fear and greed index, down 6 points, has now entered the neutral zone with a score of 50/100.

“Popular altcoins like XRP (+8.3 percent), XLM (+5.68 percent), and SNX (+4.58 percent) have shown some strength at the back of their recent developments. XRP pump can be attributed to the recent SEC lawsuit verdict. In other news, Binance has integrated Lighting Network on Bitcoin withdrawals which has reduced the BTC withdrawal fees by more than 90 percent; from close to a few dollars to a few cents. This may further BTC’s adoption as transferring BTC will become cheaper,” Shubham Hudda, Senior Manager, CoinSwitch Markets Desk, told Gadgets 360.

Will the Nothing Phone 2 serve as the successor to the Phone 1, or will the two co-exist? We discuss the company’s recently launched handset and more on the latest episode of Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.
Affiliate links may be automatically generated – see our ethics statement for details.

Check out our Latest News and Follow us at Facebook

Original Source

Crypto Market Watch: Bitcoin, Ether Collect Profits After Days of Laying Low, Most Altcoins Follow Suit

The inflation data shared by the US this week showed that the market situation is improving, and the information is impacting the crypto market. Bitcoin on Friday, July 14, minted a profit of 3.87 percent to trade at the price point of $31,458 (roughly Rs. 25,7 lakh). This is the first time in days that Bitcoin has managed to mint profits of over one percent. In the last 24 hours, the value of BTC rose substantially by $1,130 (roughly Rs. 92,619).

Ether also tailed along with Bitcoin to see profits, even bigger than Bitcoin. With a gain of 7.57 percent, the value of ETH stood at $2,007 (roughly Rs. 1.64 lakh) at the time of writing. This is the first time in two months that ETH has been able to cross the $2,000 (roughly Rs. 1.63 lakh) mark.

Most other cryptocurrencies rallied behind Bitcoin and Ether on the profit-making side of the crypto price chart.

These include Binance Coin, Ripple, Cardano, Dogecoin, and Polygon.

In addition, Litecoin, Tron, Polkadot, Avalanche, and Shiba Inu also minted profits.

“These market gains have been triggered by a US court ruling which is partially in favour of Ripple. The court has stated that the trading of XRP (+61.9%) amongst retail investors can’t be dubbed as a ‘securities’ sale. The SEC continues to hold its stance against the ruling and will likely re-appeal, but overall this has set a strong precedence for the sector and has resulted in a massive rally in prices,” Parth Chaturvedi, Investments Lead, CoinSwitch Ventures told Gadgets 360.

“BTC is now trading at its highest level this year and could explore a clear breakout in prices if the positive momentum continues.”

The overall crypto market rose by 6.80 percent in the last 24 hours. This takes the industry’s capitalisation to $1.26 trillion (roughly Rs. 1,03,38,111 crore), shows data by CoinMarketCap. The crypto fear and greed index has jumped three points to remain in the greed zone with a score of 60/100.

Only a small number of cryptocurrencies recorded losses on Friday. These include USD Coin, Bitcoin Cash, Binance USD, LEO, and Qtum.

Dogefi, Cosmos, Underdog, and Floki Inu also registered small price dips.

In other news, Google PlayStore has changed its policy to allow developers to incorporate digital assets into their apps and games. The updated guidelines are “aimed at creating a level playing field that promotes user trust, and responsible usage of blockchain technology”.

Will the Nothing Phone 2 serve as the successor to the Phone 1, or will the two co-exist? We discuss the company’s recently launched handset and more on the latest episode of 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.

Check out our Latest News and Follow us at Facebook

Original Source

Crypto Market Watch: Bitcoin, Ether See Minor Profits Despite Market Remaining Lacklustre Overall

Bitcoin on Tuesday, July 4 reflected a profit of 1.32 percent to trade at the price point of $31,226 (roughly Rs. 25.5 lakh). While the overall crypto market continues to show losses next to every alternate altcoin, Bitcoin has impressively managed to keep trading over the mark of $30,000 (roughly Rs. 24.5 lakh). Bitcoin’s market cap dominance has soared to its highest level, above 58 percent, since 2021. This means that Bitcoin now accounts for more than half of the total market capitalisation of all crypto markets owing to the recent decline in altcoin prices and the growing interest from institutional investors like BlackRock and Fidelity into Bitcoin.

Ether tagged behind Bitcoin on the profit-side of the crypto price chart on Tuesday. At the time of writing, ETH was trading at $1,957 (roughly Rs. 1.6 lakh) with a small profit of 0.47 percent.

“Crypto markets have showcased slow upward movement for the second day. The BTC ETF narrative continues to keep the market sentiment and prices afloat. After the SEC deemed the last Bitcoin ETF filing as inadequate, the world’s biggest asset management firm BlackRock has reapplied for the famous Bitcoin ETF, moving one step closer to Bitcoin gaining massive institutional adoption,” Shubham Hudda, Senior Manager, CoinSwitch Markets Desk told Gadgets 360.

Ripple, Cardano, Dogecoin, Tron, and Polygon recorded gains alongside BTC and ETH.

Shiba Inu, Leo, Cosmos, Monero, and Elrond also reeled-in minor gains.

“Despite getting another delisting announcement from a famous digital banking platform Revoult, MATIC (+3.09 percent), ADA (+0.3 percent) and SOL (-1.08 percent) have seen significant resistance in getting more downside proving that these coins had already factored in these possibilities and were trading at a huge discount. While MATIC has been surging on its recent announcement of Polygon 2.0, any further positive developments in these coins can prove to be bullish,” Hudda added.

In the last 24 hours, the overall valuation of the crypto sector rose by 0.89 percent with its capitalisation touching $1.22 trillion (roughly Rs. 99,97,680 crore), CoinMarketCap.

The crypto fear and greed index is up by two points, furthering into the greed zone with a score of 64/100.

Tether, Binance Coin, and USD Coin however, reeled-in under losses on Tuesday.

Small losses also struck Litecoin, Solana, Polkadot, and Bitcoin Cash alongside Avalanche, Chainlink, Uniswap, and Stellar.

“Around 79 percent of the BTC circulating supply is in profit, which signals a healthy outlook for the largest crypto asset. This substantial percentage suggests a potential for sustained upward movement in Bitcoin’s price cycle,” the CoinDCX research team told Gadgets 360.

From the Nothing Phone 2 to the Motorola Razr 40 Ultra, several new smartphones are expected to make their debeut in July. We discuss all of the most exciting smartphones coming this month and more on the latest episode of 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.

Check out our Latest News and Follow us at Facebook

Original Source

Crypto Market Watch: Bitcoin Slips Down from $30,500 Mark, Losses Also Strike Ether, Stablecoins

Bitcoin, for a few days now, has been oscillating price-wise within the range of $30,000 (roughly Rs. 24.6 lakh) and $35,000 (roughly Rs. 28.7 lakh). However, on Thursday, June 29, Bitcoin reflected a loss of 0.98 percent to trade at the price point of $30,140 (roughly Rs. 24.7 lakh). In the last 24 hours, the most expensive cryptocurrency tumbled by $360 (roughly Rs. 29,530). The market dominance of BTC, despite the volatility, is on a rise, reclaiming the 52 percent mark.

“BTC continues to trade above $30,000 (roughly Rs. 24.6 lakh) even as exchange volumes have gradually started declining with the increasing consolidation phase. There seems to be major capital sitting on the sidelines waiting for a clear move with almost 50-50 longs and shorts open in almost all major exchanges. The biggest public buyer in recent days has been MicroStrategy, where they claimed to have bought BTC 12,333 taking their total holding to BTC 1,52,333.

Ether tagged behind Bitcoin on the loss-side of the price chart. With a price slip of 1.63 percent, the crypto asset is trading at $1,835 (1.5 lakh) on Thursday. Over the last day, the second-most expensive cryptocurrency lost $33 (roughly Rs. 2,710) from its value.

With both, BTC and ETH reeling under losses, majority altcoins incurred price dips today.

Tether, Binance Coin, Ripple, Cardano, Tron, and Solana joined BTC and ETH in losses.

Litecoin, Polkadot, Polygon, Bitcoin Cash, Dogecoin, and Shiba Inu also recorded tumbles.

The crypto market cap went down by 1.31 percent in the last 24 hours to stand at the valuation of $1.16 trillion (roughly Rs. 95,16,837 crore), showed the data by CoinMarketCap. The crypto fear and greed index, down by eight points, is back in the neutral zone with a score of 54/100.

Meanwhile, only a handful of cryptocurrencies recorded minor profits on Thursday.

These include USD Coin, Leo, Dogefi, Bitcoin Hedge, and Gas.

Despite the ongoing market fluctuations, industry insiders remain optimistic about the future of crypto and Web3.

“Venture capital firms have invested a record $707 million (roughly Rs. 5,800 crore) in metaverse projects in the first half of 2023. This represents 44 percent of all Web3 investments in the same period. Also, currently defunct exchange FTX is also reportedly planning to make a comeback by launching a brand-new exchange with a different name altogether,” the CoinDCX team 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. 

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

Check out our Latest News and Follow us at Facebook

Original Source

Crypto Market Watch: Bitcoin, Ether and Most Cryptocurrencies Incur Minor Losses as Sector Stays Shaky

Bitcoin on Tuesday, June 27, incurred a small loss of 0.13 percent alongside majority other cryptocurrencies. Amid a shaky crypto market, Bitcoin’s trading value stayed at a healthy price point of $30,380 (roughly Rs. 24.9 lakh). This is the second consecutive day that the most expensive cryptocurrency has managed to maintain its price above the mark of $30,000 (roughly Rs. 24.3 lakh). In the last 24 hours, the value of Bitcoin notably dropped by $69 (roughly Rs. 5,656).

Ether walked into losses alongside Bitcoin on Tuesday. With a minor dip of 0.75 percent, Ether is presently trading at $1,863 (roughly Rs. 1.5 lakh). The second most valued cryptocurrency, ETH lost $10 (roughly Rs. 820) from its last day’s pricing.

“Market experts predict July gains for Bitcoin based on historical data,” Rajagopal Menon, Vice President, WazirX, told Gadgets 360.

As per the crypto price tracker by Gadgets 360, most of the popular altcoins found themselves struck by small losses today.

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

Price tumbles were also recorded by Solana, Polkadot, Avalanche, Shiba Inu, Chainlink, Cosmos, and Uniswap.

The overall valuation of the crypto sector showed no changes in the last 24 hours and retained its capitalisation at $1.18 trillion (roughly Rs. 96,87,576 crore), as per CoinMarketCap.

The crypto fear and greed index has climbed four points to remain in the greed zone with a score of 59/100.

Meanwhile, some cryptocurrencies did reflect small but significant profits on Tuesday.

These include Tron, Litecoin, Polygon, and Bitcoin Cash.

Monero, Stellar, Near Protocol, EOS Coin, Iota, Zcash, Dash, and Zilliqua also managed to record profits.

“With Sensex in India recently reaching all-time highs and S&P 500 in the USA reaching a 15-month high, investors’ interest in alternate asset classes is also brewing. While BTC dominance is also consolidating around its two-year high of 51.7 percent, some altcoins have also started rallying. This includes Bitcoin Cash (BCH) which has registered gains of over 100 percent in the last seven days,” Shubham Hudda, Senior Manager, CoinSwitch Markets Desk, told Gadgets 360. “It could be attributed to the institutional interest it has amassed after getting listed on Fidelity, Schwab, and Citadel-backed EDX Markets recently,” he 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. 

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

Check out our Latest News and Follow us at Facebook

Original Source

Crypto Market Watch: Bitcoin, Ether Carry Recovered Prices Into June End Amid Market Volatility

The crypto market did not attain milestone stabilisation despite positive developments making a splash over the weekend. Bitcoin, for instance, stepped into the last week of June with a small loss of 0.29 percent. The price point for BTC, however, did manage to stay above the mark of $30,000 (roughly Rs. 24.3 lakh). At the time of writing, BTC was trading at $30,449 (roughly Rs, 24.9 lakh). Over the weekend, the most expensive cryptocurrency rose in price by $494 (roughly Rs. 40,500).

The US SEC, amid its ongoing tussle with crypto players like Binance and Coinbase, approved the launch of the first leveraged Bitcoin Futures ETF in the US. Leveraged funds use debt or financial derivatives — in this case, Bitcoin futures — as leverage to magnify the returns of a benchmark index. In addition, Federal Reserve Chair Jeremy Powell also testified in the House Financial Services Committee, saying that crypto does have a staying power in the US.

Both of these developments contributed to the crypto market seeing profits over the weekend.

Ether reflected a small gain of 0.17 percent on Gadgets 360’s crypto price chart on Monday. The price of ETH stands at the point of $1,873 (roughly Rs. 1.5 lakh) as of June 26. The second-most valued cryptocurrency after Bitcoin, ETH slipped by $2 (roughly Rs. 163) in the last two days.

The crypto chart clearly marked a split with BTC and ETH taking different trajectories on the price path.

With small but significant profits, Binance Coin, Ripple, Solana, Tron, Polkadot, Avalanche, and Polygon joined ETH on the green side of the price chart.

Tether, USD Coin, Cardano, Dogecoin, Litecoin, and Shiba Inu, meanwhile, replicated BTC’s market movement and stayed on the loss-ridden red side of the price chart.

The overall crypto market, comprising of 25,943 registered cryptocurrencies, slipped by 0.84 percent in its valuation in the last 24 hours. The market cap of the crypto sector, as of June 26, stands at $1.18 trillion, shows the data by CoinMarketCap.

The crypto fear and greed index has registered no movement and continues to remain at a score of 65/100.

“Bitcoin’s market depth continues to be an area of concern. However, with this correction phase predicted to settle by the end of the year, it could see trading volumes picking up,” Rajagopal Menon, Vice President, WazirX, 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. 

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

Check out our Latest News and Follow us at Facebook

Original Source

Exit mobile version