The crypto price chart showed losses alongside almost all major cryptocurrencies on Thursday, February 9th. Bitcoin was down 3.23 percent overnight. The value of BTC in India at the time of writing is $22,510 (roughly 18.6 lakh). The most valuable cryptocurrency BTC also trades at losses on international exchanges such as Binance and Coinbase. In the last 24 hours, BTC has tumbled by $750 (about Rs.61,984) from its last daily price of $23,260 (about 19.2 lakh).
ether also succumbed to the test markets afterwards Bitcoin. The second most valuable cryptocurrency slipped down the price ladder by 3.79 percent. ETH is priced at $1,616 (roughly 1.33 lakh) according to Gadgets 360 at the time of writing. Crypto price tracker.
From stablecoins such as tether, USD coinAnd ripple — to — memecoins Dogecoins And Shiba Inuall were hit by losses on Thursday.
Cardano, polygon, SolanaAnd Speckle also joined the other altcoins on the losing side of the price charts.
Only a small number of cryptocurrencies, such as Qum, value circuits, DogefiAnd Nano Dogcoin managed to make some profits.
In the past 24 hours, the overall crypto market rating slipped 3.52 percent. Despite the losses, the crypto sector has managed to keep its market cap above the trillion dollar mark. As of Thursday, the crypto market cap stood at 1.05 trillion, it showed CoinMarketCap.
However, industry insiders believe the crypto sector is welcoming back users who exited after the industry fell into a deep slumber towards the end of 2022.
“With the broader markets, there are many growth metrics that suggest new users or dormant users are returning to the space. Ethereum’s average gas price – calculated in Gwei, meaning the smallest ether – rose 27 percent in January. The increase in average gas fees is a key indicator of an increase in user activity,” the CoinDCX research team told Gadgets 360.
“Interest in decentralized protocols has increased somewhat, with the Total Value Locked (TVL) across various staking protocols hitting $74.6 billion (approx. With Ethereum Shanghai upgrade Liquid Derivative Staking Pools protocols coming out in March like Lido DAO, Rocket Pool, Frax Share are seeing user growth, development activity and increased ETH staking.”
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.
