Tag: usd coin

Crypto Price Today: Bitcoin and Ether See Profits, Losses Hit Altcoins Like Solana, Tron

Bitcoin minted a profit of 0.91 percent on Thursday, October 5 to trade at the price point of $27,680 (roughly Rs. 23 lakh). This marks the third consecutive day that Bitcoin is trading in the range of $27,000 (roughly Rs. 22.4 lakh). Over the last day, Bitcoin has shown a substantial rise in its value. The asset, that was priced $27,403 (roughly Rs. 22.8 lakhs) yesterday, rose by $277 (roughly Rs. 23,050). As per market experts, October is expected to bring market consolidation and sideways movement, providing opportunities for long-term investors.

“Bitcoin’s gain follows a market calm-down after Monday’s sharp rally, easing traditional market headwinds,” Rajagopal Menon, Vice President, WazirX told Gadgets 360.

Ether joined Bitcoin on the profit-side of the crypto chart on Thursday. ETH is presently trading at $1,643 (roughly Rs. 1.36 lakh) after seeing a miniscule gain of 0.8 percent. In the last 24 hours, ETH rose in price by $3 (roughly Rs. 250).

Other cryptocurrencies that registered gains today include Binance Coin, Cardano, Dogecoin, Polygon, Litecoin, and Shiba Inu.

Small profits were also churned by Chainlink, Avalanche, Monero, Cronos, Bitcoin SV, and Elrond.

“Avalanche’s AVAX, a Layer 1 blockchain, has been a top performer in CoinDCX among major cryptocurrencies, with an impressive eight percent surge in the last 24 hours,” the CoinDCX research team told Gadgets 360. This rally in AVAX price comes due to the gaining popularity of its social app Stars Arena, which is a direct competitor of the very popular base chain app Friend.tech.

The overall valuation of the crypto market rose by 0.74 percent in the last 24 hours to sit on the mark of $1.09 trillion (roughly Rs. 90,73,323 crore), as per CoinMarketCap.

A notable number of cryptocurrencies did see losses today. These include Tether, Ripple, USD Coin, Solana, Tron, Polkadot, and Bitcoin Cash.

Industry experts are optimistic that newer developments and upcoming Web3 developments will keep the sector hot and running.

“A special focus yesterday remained on the exit of Jayanti Kanani from Polygon, popularly known as JD, the co-founder of India-based layer-2 MATIC (+0.4 percent). According to his post on x.com, Jayanti has embarked on a new journey, which could mean a new venture he might be starting. The overall crypto market seems to be calming down after Monday’s sharp rally,” Shubham Hudda, Senior Manager, CoinSwitch Markets Desk 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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Crypto Price Today: Bitcoin, Ether Join Most Altcoins in Minting Profits, Overall Market Sees Soft Rebound

Bitcoin on Friday minted a small profit of 2.01 percent. Its trading value, at the time of writing, stood at $26,917 (roughly Rs. 22.3 lakh). This is only the second time this week that Bitcoin has managed to reel in gains. In the last 24 hours, the value of BTC rose substantially by $562 (roughly Rs. 46,715). Market analysts are linking this soft surge in crypto prices with a rebound of larger markets and slight improvements in the overall macroeconomic conditions.

Ether recorded a gain of 2.80 percent on Friday. The price that ETH recorded today is $1,650 (roughly Rs. 1.37 lakh). Over the last day, the value of ETH spiked by $46 (roughly Rs. 3,825), as shown on Gadgets 360’s crypto price chart.

Other cryptocurrencies trading in the greens alongside BTC and ETH include Binance Coin, Ripple, and Cardano.

Dogecoin, Solana, Tron, Polkadot, Polygon, Shiba Inu and Litecoin also registered gains.

“The top 20 cryptos by M.Cap. seem to be trading in the green. ETH has outperformed BTC in the last 24 hours. This performance could be attributed to the investment manager Valkyrie Funds LLC receiving a green light from the SEC to add ETH Futures to its existing BTC Futures ETF. The renamed ETF will be launched by Valkyrie on Monday. Also, Ethereum developers are working on launching the Holesky test network and the process seems to be going smoothly before its finalised,” Parth Chaturvedi, Investments Lead, CoinSwitch Ventures, told Gadgets 360.

The overall crypto market cap rose to $1.07 trillion (roughly Rs. 88,92,828 crore) after clocking a profit of 2.12 percent in the last 24 hours. The crypto fear and greed index is back in the neutral zone with a score of 48/100.

Losses meanwhile, struck Tether, USD Coin, Chainlink, Leo, Monero, and Binance USD.

Augur, Bitcoin Hedge, Status also saw price dips today.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article. 

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Crypto Price Today: Bitcoin Sees First Profit of the Week, Most Altcoins Reflect Losses

Bitcoin on Thursday, September 28 reeled-in the first ever profit of this week so far. The small gain of 0.43 percent for Bitcoin, took its trading value to the mark of $26,355 (roughly Rs. 21.9 lakh). In the last 24 hours, Bitcoin rose in price by $175 (roughly Rs. 14,557). As per industry experts, the markets are calling for a $30,000 (roughly Rs. 24.9 lakh) price mark for BTC soon. Till that happens however, the support level at $26,000 (roughly Rs. 21.6 lakh) must be maintained to expect an upside movement in the short-term, experts say.

Ether minted 0.73 percent in profits on Thursday. At the time of writing, Ether was trading at the price point of $1,604 (roughly Rs. 1.33 lakh). Following Bitcoin’s trajectory, Ether also rose in value by $13 (roughly Rs. 1,081) over the last day.

Other cryptocurrencies that joined BTC and ETH on the upward curve today include Solana, Bitcoin Cash, Chainlink, Stellar, Monero, Binance USD as well as Bitcoin SV.

Some underdog cryptocurrencies that saw profits today also include Neo Coin, Iota, Ardor, and Gas.

“The (in)famous coin Terra LUNA or LUNA2 (+20.50 percent) has been pumping. This price action is being attributed to LUNA’s community passing a proposal that makes them move away with the minting of new USTC stablecoins, which was the supposed-to-be stable coin of the Terra Luna ecosystem, UST. In addition, the Chainlink token has also been up by close to 30 percent in the last 15 days as its flagship crypto event SmartCon is getting closer. SmartCon is scheduled to happen on October 2 and 3 in Barcelona, Spain with side activities starting as soon as 30th September,” Shubham Hudda, Senior Manager, CoinSwitch Markets Desk told Gadgets 360.

The overall crypto market cap rose by 0.55 percent in the last 24 hours but remained unchanged value-wise. For the third consecutive day, the crypto market valuation stands at $1.05 trillion (roughly Rs. 87,34,099 crore) as per CoinMarketCap.

Among cryptocurrencies that recorded losses today, Tether, Binance Coin, Ripple, Cardano, Dogecoin, and Tron marked their names.

Polkadot, Polygon, Litecoin, Shiba Inu, Avalanche, Cosmos, and Uniswap also found themselves on the loss-making side of the crypto price chart.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article. 

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Bitcoin Price at $26,200 Trades in Losses, Most Altcoins Reflect Dips on Crypto Chart

Bitcoin on Monday, September 25, recorded a loss of 1.38 percent. At the time of writing, the value of Bitcoin stood at the price point of $26,207 (roughly Rs. 21.7 lakh). The most expensive cryptocurrency has largely traded between the price marks of $23,000 (roughly Rs. 19 lakh) to $28,000 (roughly Rs. 23 lakh). Around Friday last week, the value of Bitcoin slipped below the mark of $27,000 (roughly Rs. 22.4 lakh). Most cryptocurrencies recorded price dips today alongside Bitcoin.

“Bitcoin remained above the $26,000 mark (roughly Rs. 50,000) despite stock market declines and a stronger US dollar, indicating its resilience. From a technical standpoint, Bitcoin’s price action is currently influenced by two key levels: the 200-weekly Exponential Moving Average (EMA) at $24,700 (roughly Rs. 20.5 lahks), which could provide support, and the 200-weekly Simple Moving Average (SMA) at $27,800 (roughly Rs. 23 lakh), which may act as resistance. These levels are expected to play significant roles in shaping Bitcoin’s price movement in the coming weeks,”

Ether incurred a loss of 0.95 percent as the asset stepped into the trading arena for the last week in September. The price of ETH at this point stands at $1,577 (roughly Rs. 1.31 lakh). The second-most valuable cryptocurrency after BTC, ETH tumbled under the mark of $1,600 (roughly Rs. 1.32 lakh) last Friday and has not managed to recover yet.

Tether, Binance Coin, Ripple, USD Coin, Dogecoin, Cardano, and Solana recorded losses on Monday.

Polkadot, Polygon, Litecoin, Shiba Inu, Bitcoin Cash, and Chainlink also registered dips alongside BTC and ETH.

The overall crypto sector valuation dropped by one percent in the last 24 hours to reach a capitalisation of $1.04 trillion (roughly Rs. 86,38,515 crore), as per CoinMarketCap.

Alternatively, jumping between the neutral and the fear zone over the weekend, the fear and greed index is back in the neutral zone with a score of 47/100.

A very small number of cryptocurrencies recorded profits today. These include Monero, Near Protocol, Iota, NEM, BurgerCities, and Gas.

“The overall trend in the crypto market continues to be down, with bearish sentiments, particularly after the remarks from the Feds. The market is expecting BTC volatility to see an uptick as Bitcoin options worth $3 billion (roughly Rs. 28265 crore) expire on September 29,” Parth Chaturvedi, Investments Lead, CoinSwitch Ventures 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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Crypto Price Today: Bitcoin Price Shows Small Rise Maintaining Recovery, Most Altcoins Reflect Notable Profits

Bitcoin on Friday, September 15 showed a price hike for the second day. The value of the most expensive cryptocurrency rose by 1.30 percent in the last 24 hours. At the time of writing, Bitcoin was trading at $26,567 (roughly Rs. 22 lakh). In the last 24 hours, the value of BTC has risen by $7 (roughly Rs. 581). Industry experts have noted that the overall market sentiment looks bullish, with most cryptocurrencies witnessing a decent surge in prices. As for Bitcoin, it needs to breach the mark of $27,000 (roughly Rs. 22.4 lakh) to maintain its upward trajectory.

Ether grew in value by 1.01 percent on Friday. This took the price of Ether to the mark of $1,633 (roughly Rs. 1.35 lakh). Ether, in the last 24 hours, increased in value by $11 (roughly Rs. 913).

“This change in price could be because of the European Central Bank (ECB) signaling that their hike of 0.25 percent in three key interest rates may be the last in this current cycle. The Bank raised the interest rate on the main refinancing operations, marginal lending facility and the deposit facility will be increased to 4.50 percent, 4.75 percent, and 4.00 percent, respectively. The Interest rate on the deposit facility is at its highest since 2001,” Edul Patel,Co-Founder & CEO, Mudrex told Gadgets 360.

The crypto price chart reflected gains from the top to the bottom on Friday.

Binance Coin, Ripple, USD Coin, Cardano, Dogecoin, Solana, Polygon, and Polkadot — all recorded minor profits today.

Other cryptocurrencies trading in the greens include Litecoin, Shiba Inu, Bitcoin Cash, Leo, Avalanche, Chainlink, Stellar, and Monero.

“The crypto market has received a boost with the announcement from Deutsche Bank—the largest German lender—that it would provide digital asset custody and tokenisation services. Another development that may have supported the uptrend could be signals from the European Central Bank to end rate hikes in the euro area,” Parth Chaturvedi, Investments Lead, CoinSwitch Ventures told Gadgets 360.

The overall valuation of the crypto market rose by 1.31 percent in the last 24 hours. This took the market cap to $1.06 trillion (roughly Rs. 88,04,964 crore), as per CoinMarketCap. The crypto fear and greed index remains in the fear zone with a score of 45/100.

Cartesi, Augur, and Gas meanwhile, recorded losses.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article. 

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Crypto Price Today: Bitcoin, Ether Join Most Cryptocurrencies in Reeling Under Losses

Bitcoin on Monday, September 11, slipped by 0.57 percent on the price chart. At the time of writing, the value of Bitcoin stood at the price point of $25,732 (roughly Rs. 21.3 lakh). Over the weekend, the most expensive cryptocurrency, did record a small drop in its value. Between last Friday and today, the value of cryptocurrency tumbled by $498 (roughly Rs. 41,305). As per Industry analysts, Bitcoin’s current resistance is at $26,500 (roughly Rs. 21.9 lakh), If the price falls from the current level, then the immediate support level would be at $25,300 (roughly Rs. 21.8 lakh).

“BTC temporarily surpassed the $26,000 (roughly Rs. 21.5 lakh) level on Friday, but the bulls could not sustain the climb amid bearish market sentiments. This indicates a tussle between the bulls and bears,” Edul Patel, Co-Founder and CEO, Mudrex told Gadgets 360.

Ether reflected a dip of 1.24 percent to trade at the price point of $1,612 (roughly Rs. 1.33 lakh). Ether lost $35 (roughly Rs. 2,902) over the weekend.

Among other loss-making cryptocurrencies, Tether, Binance Coin, Ripple, USD Coin, Cardano, Dogecoin, and Solana marked their names.

Price dips also struck Polkadot, Polygon, Litecoin, Shiba Inu, and Bitcoin Cash.

The valuation of the overall crypto sector dipped by 0.81 percent in the last 24 hours, holding on to $1.03 trillion (roughly Rs. 85,43,556 crore) in capitalisation, showed CoinMarketCap. The crypto fear and greed index continues to be in the fear zone with a score of 40/100 for the second consecutive day.

“The crypto market traded sideways with downward pressure over the weekend. Investor sentiments seem to low as FTX may soon be able to liquidate its crypto holdings worth $3.4 billion (roughly Rs. 28,200 crore). If this happens, the market may witness a selling pressure which may dampen price action, especially for ETH and SOL,” Parth Chaturvedi, Investments Lead, CoinSwitch Ventures told Gadgets 360.

Stellar, Leo, Underdog, and Husky — managed to reel-in small profits.

“Markets are now looking forward to near-term triggers, like the release of US inflation data this week, which will set the course for upcoming interest rate policy. For the crypto market specifically, as a measure of probable approval of the BTC spot ETF, investors are keenly observing the fall in discount of Grayscale’s GBTC to spot, which is now at its lowest level in a year,” Chaturvedi further noted.

While the crypto market is seeing volatility, industry experts from around the world are not looking to ban the technology. Rather, lawmakers are converging on one point, which is to draft globally acceptable rules to oversee the crypto sector.

Over the weekend, New Delhi hosted the three-day G20 summit, with international dignitaries like US President Joe Biden and UK Prime Minister Rishi Sunak among others in attendance.

Gita Gopinath, the Deputy Managing Director of the International Monetary Fund (IMF) thanked India for giving the digital assets sector a unified perspective on dealing with crypto assets.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article. 

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Crypto Price Today: Bitcoin Price Breaches $26,000 Mark, Small Profits Grace Most Altcoins

Bitcoin on Friday, September 8 registered a small profit of 1.61 percent to trade at the price point of $26,230 (roughly Rs. 21.8 lakh). This marks the first time this week that the most expensive cryptocurrency has managed to breach the mark of $26,000 (roughly Rs. 21.6 lakh). Up until now, on most days, BTC had been trading round the value of $25,000 (roughly Rs. 20.7 lakh). As per industry analysts, the investor sentiment seems to have been slightly boosted after news about JPMorgan Chase & Co. exploring a blockchain-based payment and settlement system. It comes across as a sign that companies are still building in the ongoing bear phase.

Ethereum rose by 0.52 percent to trade at the price point of $1,647 (roughly Rs. 1.37 lakh). In the last 24 hours, the value of ETH went up by $15 (roughly Rs. 1,247).

Along with JPMorgan’s blockchain exploration, other factors are also in favour of the crypto sector.

“This positive price movement could be because of a paper published yesterday by the IMF and the G20’s Financial Stability Board. The paper pointed out that a blanket ban on crypto would not be effective long-term and recommended targeted restrictions and comprehensive monetary policy instead,” Edul Patel, the CEO and co-founder of Mudrex told Gadgets 360.

This paper essentially underlines the importance of a global regulatory and recommends targeted restrictions and sound monetary policy instead.

Among cryptocurrencies that reeled in profits today, Binance Coin, Ripple, USD Coin, Cardano, Dogecoin, Solana, and Polkadot made their marks.

Other cryptocurrencies to have seen gains today include Litecoin, Bitcoin Cash, Avalanche, Stellar, Monero, Binance USD, Cosmos, and Cronos.

Over the last 24 hours, the overall crypto market valuation rose by 1.15 percent to touch the capitalisation point of $1.05 trillion (roughly Rs. 87,32,986 crore), as per CoinMarketCap.

The fear and greed index also jumped five points since yesterday and is currently in the fear zone with a score of 46/100.

Meanwhile, losses also struck some cryptocurrencies on Friday including Polygon, Shiba Inu, Chainlink, Uniswap, and Qtum.

The next three days could be crucial for the global crypto market now that the G20 leaders are heading to Delhi today, to attend the G20 meetings. India, as the G20 president, has been working on making crypto rules that would work on an international level. Key updates about the same are expected in the coming days.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article. 

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Crypto Price Today: Bitcoin, Ether Fail to See Gains as Volatility Overshadows Profit Windows

Bitcoin on Tuesday, September 5 registered a loss of 1.31 percent to trade at the price point of $25,653 (roughly Rs. 21.2 lakh). The most expensive cryptocurrency on the price chart, Bitcoin, has been trading lowly for weeks now. In fact, after having been stuck to the mark of $26,000 (roughly Rs. 21.5 lakh) for most of August, Bitcoin has only fallen further down the price chart. In the last 24 hours alone, BTC tumbled in value by $297 (roughly Rs. 24, 586). While BTC did see small profits the day before, market volatility has completely outshined these small profit windows.

Ether reflected a dip of 1.41 percent on Tuesday to trade at $1,614 (roughly Rs. 1.33 lakh). Over the last day, the value of ETH has fallen by $22 (roughly Rs. 1,821).

“An extended weekend in the US due to the American labour day on Monday the 5th, meant lower volumes in the US trading hours in the crypto market,” Shubham Hudda, Senior Manager, CoinSwitch Markets Desk explained to Gadgets 360.

More altcoins saw losses today than profits. Amongst other loss-making cryptocurrencies — Binance Coin, Ripple, Cardano, Dogecoin, Solana, Polkadot, and Litecoin made a mark.

Other cryptocurrencies to see price dips also include Shiba Inu, Bitcoin Cash, Avalanche, Leo, Chainlink, Monero, Uniswap, Cosmos, and Cronos.

The overall crypto market valuation dropped by 1.06 percent in the last 24 hours. The global crypto sector valuation stands at $1.04 trillion (roughly Rs. 86,14,892 crore), as per CoinMarketCap.

Among a small number of cryptocurrencies that did record profits include Tether, USD Coin, Tron, Polygon, Stellar, and Binance USD.

Minor gains also fell into the hands of Braintrust, Bitcoin Hedge, Underdog, and Status.

Experts, however, predict better days for crypto with more projects coming up in the space al together.

“A case against the biggest decentralised exchange Uniswap was ruled in favour of the exchange. We are now seeing some numbers where the DEX has surpassed the trading volumes of Coinbase CEX (Centralised Exchange) in Q2 of 2023. This shows the strength of DeFi,” Hudda noted.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article. 

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Crypto Price Today: Bitcoin Finally Trades Above $27,000 Mark, Most Altcoins Recover From Losses

Bitcoin, after weeks of trading at a stagnated price point of around $26,000 (roughly Rs. 21.5 lakh), finally has managed to break out of its resistance point. On Wednesday, Bitcoin reflected a substantial gain of 5.30 percent to trade at $27,496 (roughly Rs. 22.7 lakh). In the last 24 hours, the most expensive cryptocurrency jumped by $1,409 (roughly Rs. 1.16 lakh). As per experts, this price action for BTC has resulted from the liquidation of around $75 million (roughly Rs. 620 crore) across exchanges in short positions.

Ether price also rose notably by 3.81 percent stepping into Wednesday. At the time of writing, ETH was trading at $1,718 (roughly Rs. 1.41 lakh). The value of ETH rose by $65 (roughly Rs. 5,370) over the last day.

“This tremendous positive growth could be attributed to the US Court ruling with Grayscale in a lawsuit against the Securities and Exchange Commission about the company’s application to convert the Grayscale Bitcoin Trust to an ETF. This development in the industry has resulted in positive sentiment among the market participants, driving the prices. With this ruling, we could likely see more giant companies applying for Bitcoin spot ETF licenses in the coming months,” Edul Patel, CEO, Muder, told Gadgets 360.

Profits raining over both top cryptocurrencies, BTC and ETH, often bring gains back to the crypto price chart.

Tether, Binance Coin, Ripple, Cardano, Dogecoin, Solana, Tron, and Polygon — all recorded profits on Wednesday.

Litecoin, Shiba Inu, Bitcoin Cash, Avalanche, Leo, Stellar, and Chainlink also reflected small gains.

The overall crypto market valuation spiked by four percent in the last 24 hours to sit on the mark of $1.09 trillion (roughly Rs. 90,07,269 crore), showed CoinMarketCap.

The fear and greed index has jumped 10 points and has entered the neutral zone with the current score of 49/100.

“The crypto market has seen a positive price action in the last 24 hours. As per CoinGecko, global crypto market capitalisation added approx. $50 billion (roughly Rs. 4,13,758 crore),” Shubham Hudda, Senior Manager, CoinSwitch Markets Desk, told Gadgets 360.

Meanwhile, only a pinch of altcoins recorded losses today. These include Binance USD and Braintrust.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

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Crypto Price Today: Bitcoin Price Clings to $26,000 Mark Despite Minor Gains, Market Remains Volatile

Bitcoin on Monday, August 28 reflected a small profit of 0.31 percent. This profit value however, did not add any notable significance to the trading price of the most expensive cryptocurrency, that is BTC. At the time of writing, the crypto asset was trading at $26,048 (roughly Rs. 21.5 lakh). Over the weekend, Bitcoin’s price sipped by $27 (roughly Rs. 2,311) to reach its current value as the crypto market continues to remain slow.

Ether, after having been under a loss spell for days, managed to register small gains on Monday. The value of ETH currently stands at $1,648 (roughly Rs. 1.36 lakh) after gaining 3.18 percent.

“Market sentiments improved as JPMorgan analysts suggested that Bitcoin’s downtrend might end soon. This stance gains further support from the observed decline in open interest within Bitcoin futures contracts on the Chicago Mercantile Exchange, indicating a potential end to extended liquidation,” Edul Patel,Co-Founder & CEO, Mudrex told Gadgets 360.

Trailing behind BTC and ETH, a number of cryptocurrencies managed to see profits today.

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

Other altcoins that saw gains include Bitcoin Cash, Monero, Cronos, Zcash, and Cartesi.

The overall capitalisation of the crypto market went up by 0.05 percent in the last 24 hours to sit on the rather edgy mark of $1.05 trillion (roughly Rs. 86,80,402 crore), showed CoinMarketCap.

Meanwhile, the crypto fear and greed index continues to be in the fear zone with a score of 39/100, a point up since yesterday.

“Crypto investors are cautious, even though downward price action seems to be slowing down. Following Jerome Powell’s speech underlining the possibility of more interest rate hikes to further contain inflation. However, the price action for cryptos was accompanied by a plunge in stock and bond prices,” Parth Chaturvedi, Investments Lead, CoinSwitch Ventures told Gadgets 360.

Several cryptocurrencies failed to reap the profits pulled-in by BTC and ETH on Monday, and ended up on the red side of the price chart.

Ripple, Dogecoin, Tron, Polkadot, Litecoin, Shiba Inu, Avalanche, and Stellar — all reflected losses on Monday.

Chainlink, Binance USD, Uniswap, Cosmos, and Elrond also saw losses.

In other news, the US Treasury Department has published a nearly 300-page proposal around crypto tax and regulation. While the proposal clarifies certain definitions, it has also received a lot of criticism from the crypto ecosystem, one of which is the impossibility of bringing tax-reporting compliance to decentralised crypto operations.

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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