After two days in which most cryptocurrencies recorded gains, prices of various cryptocurrencies fluctuated on Thursday. Bitcoin opened trading at $16,816 (approximately Rs.13.9 lakh), down 0.37 percent. The value of the oldest cryptocurrency also remained unchanged on international exchanges such as Binance, CoinMarketCap and Coinbase. Despite the minor loss, the BTC value is up a total of $123 (roughly Rs. 10,175) in the last 24 hours and remains below the $17,000 (roughly 14 lakh) price point.
ether saw a small increase in value of 0.03 percent. The second most valued cryptocurrency after Bitcoin is currently trading at $1,251 (approximately Rs.1.03 lakh) according to Gadgets 360 Crypto price tracker.
stablecoins such as tether, USD coin, rippleand Binance USD all recorded small losses.
Similar, Litecoin, Speckle, Tron, Solana, Uniswap, Lion, chain linkand cosmos also saw depreciation.
On the other hand, currencies like Binance coin, Cardano, polygon, avalancheand Monero saw gains on Thursday.
Monero, bitcoin cash, Near the log, Bitcoin SV, Elrondand decentralized also minted profits.
Both memecoins Shiba Inu and Dogecoinsreeled in small but notable wins.
The overall valuation of the crypto market is up 0.15 percent over the past 24 hours, according to data shared CoinMarketCap. The market capitalization of the crypto sector currently stands at 820 billion US dollars (about 67.90.345 billion rupees).
In countries like India and IsraelGovernments are trying to raise awareness and set rules around the crypto sector.
Meanwhile, the recent collapse of Crypto exchange FTX that shook the crypto market continues to impact the crypto world. Sam Bankman Fried, the former CEO of defunct crypto exchange FTX, pleaded not guilty in Manhattan federal court in New York. Bankman-Fried, who is charged with defrauding FTX clients, has denied he illegally used client funds for personal expenses.
With FTX out of the picture, binance topped the list of crypto exchanges that captured the most market share in 2022.
Arcane Research recently noted that Binance had a 61 percent market dominance in the Bitcoin derivatives market in terms of volume over the past year. The exchange also had a 92 percent share of Bitcoin’s cash market.
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.
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