Bitcoin entered the trading floor on Thursday, December 29 at a price of $16,538 (about 13.6 lakh) after posting a 0.66 percent loss. A similar movement was also traced by the oldest cryptocurrency on international exchanges such as Binance and Coinbase. In the past 24 hours, already low BTC levels have fallen by $320 (circa Rs. 26,490). Two days before the end of 2022, the crypto market valuation dropped to an extreme low and most cryptocurrencies opened with significant losses.
ether Prices also tumbled down the price ladder today. Down 0.28 percent, ETH is currently trading at $1,190 (roughly Rs.98,590), according to Gadgets 360. Crypto price tracker.
stablecoins such as tether, USD coinand Binance USD joined BTC and ETH on the losing side of the crypto chart.
Among other altcoins that saw losses in value, Cardano, polygon, Tron, Speckleand Litecoin – marked their names.
Dogecoins and Shiba Inu – the two most popular cryptocurrencies for Indian investors, also failed to convince investors and entered the trading arena with losses.
The crypto market valuation, which surpassed the $3 trillion (roughly Rs.1.65.59.12 billion) valuation last year, fell 0.78 percent in the past 24 hours. At the time of writing, the crypto market cap is at a dramatic low of $795.75 billion (roughly Rs. 65,87,835 crore).
As losses overwhelmed gains on the price charts, only a small number of altcoins managed to post tiny gains.
These include Monero, cosmos, Floki Inuand status.
Analysts and industry experts are hoping that the next year, which begins in the next three days, will be more formative for the global crypto sector.
“After a year of ups and downs in crypto, the community will look forward to some stability and method in the ecosystem. 2023 is widely expected to be the year when crypto regulations will be signed and sealed around the world. We hope that the regulatory framework is conducive to all stakeholders – founders, users and governments alike. We want crypto adoption to increase in an environment of trust, security and overall positive outcomes,” Rajagopal Menon, VP at WazirX, told Gadgets 360.
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.
Join us for the latest from the Consumer Electronics Show on Gadgets 360 CES 2023 hub.
