Bitcoin and ether opened with gains on Friday, along with most cryptocurrencies that have fallen over the past 24 hours. Appreciating 1.12 percent, the price of bitcoin is currently hovering around $21,060 (roughly Rs 17 lakh). The world’s most widely used cryptocurrency has also managed to maintain a similar price point on international exchanges such as Coinbase and Binance. The value of BTC rose by $312 (approximately Rs. 25,360), helping the crypto-asset recover quickly after seeing a slight drop in value on Thursday.
ether wasn’t far behind Bitcoin Bitcoin in terms of its rise in value after taking a small dive on Thursday. ETH price touched $1,552 (about 1.26 lakh) with a gain of 1.47 percent Crypto price tracker by Gadgets 360.
In the meantime, Binance coin, Cardano, polygon, Speckleand Litecoin – all of which posted losses yesterday and opened with gains on Friday.
Tron, avalanche, Uniswap as well as cosmos, Lion, chain linkand Monero also recorded gains.
meme coins DOGE and SHIB saw their values increase alongside the previously mentioned digital assets.
“Most cryptocurrencies rallied as US consumer sentiment appears strong. If the daily bar closes above the current value, the breakout may turn into growth soon. However, if BTC falls below current levels, it would validate the power of sellers,” Edul Patel, CEO and co-founder of Mudrex, told Gadgets 360.
Despite the general recovery for most cryptocurrencies, stablecoins tether, USD coinand Binance USD entered the trading arena with small losses.
Solana, decentralized, aave, brain trust, cardsand augur also posted losses on Friday.
In the last 24 hours, the valuation of the global crypto market has increased by 0.87 percent. acc CoinMarketCapThe crypto market cap stands at $977.40 billion (approximately Rs. 79,43,652 crore).
“Certain sectors in the crypto space have outperformed on certain trends, of which AI-based crypto projects have had the most significant rallies following widespread adoption ChatGPT in terms of individual users, leading Microsoft to invest billions of dollars in ChatGPT, thereby setting the stage for an accelerated breakthrough for mass adoption of artificial intelligence-related products. AI-based projects listed on CoinDCX such as Fetch. AI, Numeraire, and PHB have seen significant price gains over the past few months on these developments,” crypto exchange CoinDCX’s research team told Gadgets 360.
The growth and adoption opportunities for the crypto sector are also increasing. polygon has partnered with Ernst & Young (EY) to provide privacy-focused applications for businesses built on Ethereum. This is expected to further strengthen its status as the primary scaling solution for the cryptocurrency.
“Global crypto market cap continues to hover around the trillion dollar mark. It cooled slightly after a heated rally in both equity and crypto markets on positive updates in the US macroeconomic environment amid a reduction in recent inflation rates there,” the CoinDCX team added.
Cryptocurrency is an unregulated digital currency, not legal tender and is subject to market risks. The information provided in this article is not intended to and does not constitute financial advice, trading advice, or any other advice or recommendation of any kind offered or endorsed by NDTV. NDTV is not responsible for any loss arising from any investment made on an accepted recommendation, forecast or other information contained in this article.
