A day after the majority of cryptocurrencies posted gains and the crypto market valuation surged over three percent, volatility hit cryptocurrency price charts again. Bitcoin opened Thursday down nearly a percent. At the time of writing, BTC was trading at $17,716 (roughly Rs. 14.6 lakh). The world’s most popular cryptocurrency also saw tiny price declines on international exchanges. According to Binance and CoinMarketCap, BTC is trading at a price of $17,734 (roughly Rs.14.4 lakh).
ether recorded slightly larger losses than Bitcoin. Down 2.35 percent, ETH is now trading at $1,291 (roughly 1.06 lakh), it showed Crypto price tracker by Gadgets 360.
In addition to altcoins, stablecoins linked to the US dollar have also posted losses.
tether, USD coin, Binance coin, ripple, Cardano, polygon, Speckleand Litecoin – all witnesses of price declines.
Dogecoins and Shiba Inu also broke out of their winning spell to see their value drop on Thursday.
The overall valuation of the crypto market slipped 1.12 percent over the past 24 hours. The current crypto market cap is $861.07 billion CoinMarketCap.
These include Solana, Tron, Zcashand To bend.
After the collapse of the crypto exchange FTX Exchange, a large part of the global investor community has withdrawn from the crypto sector.
A last report, the Organization for Economic Co-operation and Development (OECD) explains why the crypto market cap has failed to show a recovery. The OECD has said that institutional investors have been exiting the crypto market at a faster rate amid the slump compared to retail investors.
Last year around Christmas time in December, the crypto market saw gains as more and more people got into gift giving crypto presented, especially in the US. This year, the holiday spirit has yet to make the same impact on the crypto sector.
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.
