Bitcoin, Ether See gains on crypto price charts

The crypto market rallied with gains on Wednesday. With a small gain of 0.70 percent, BTC is trading at $16,988 (about Rs. 14 lakh), according to Gadgets 360 crypto price tracker. BTC also followed a similar path on international exchanges such as Coinbase, Binance, and CoinMarketCap. Disappointingly for market participants, it has been nearly three weeks since BTC continued to trade below the $17,000 (roughly 14.05 lakh) level.

ether closely followed by BTC to post marginal gains on Wednesday. Up 0.63 percent, ETH is currently priced at $1,263 (roughly 1.04 lakh), Gadgets 360’s price tracker shows.

Most cryptocurrencies posted gains on Wednesday.

Profitable altcoins include tether, Binance coin, USD coin, Binance USDand ripple.

polygon, Speckle, Tronand avalanche also experienced smaller gains.

Meanwhile, losses were also reflected in some altcoins, such as B. the memecoins DOGE and SHIB.

Cardano, Litecoin, Solana, Uniswap, chain linkand cosmos also saw losses on Wednesday.

The overall crypto market is up a tiny 0.01 percent over the past 24 hours. Its current valuation is US$853 billion (approximately Rs.70.46.895 billion). CoinMarketCap shows.

Several crypto companies have had to lay off large parts of their workforce in recent weeks to keep their respective companies afloat. Based in Singapore ByBit crypto exchange is the latest crypto exchange to announce a 30 percent staff reduction earlier this week.

Goldman Sachs is helping the crypto market regain investor confidence allegedly looking to buy or invest in crypto companies struggling to weather the fallout of FTX crypto collapse.

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 based on an accepted recommendation, forecast or other information contained in this article.