The two top crypto currencies Bitcoin and Ether have not been able to show any significant price improvements for at least a week. Bitcoin slipped marginally 0.09 percent on Friday to open at $16,823 (about Rs.13.9 lakh). The very first cryptocurrency followed a similar market move on international exchanges like Binance, Coinbase, and CoinMarketCap to start trading at the same price. In the last 24 hours, BTC values have fallen by $30 (about Rs.2,484) from their last daily price of $16,853 (about 13.9 lakh).
ethernot how Bitcoin opened with small profits. At the time of writing, ETH was trading at $1,221 (roughly Rs.1.01 lakh) with a mini gain of 0.75 percent, according to Gadgets 360 Crypto price tracker.
Overall, crypto price charts reflected more green than red today.
Among the winning tokens, USD coin, Binance USD, ripple, Cardano, polygonand Speckle – set a sign.
Dogecoins and Shiba Inu also posted gains of 5.57 percent and 0.71 percent, respectively.
The global crypto market grew by 0.21 percent in the last 24 hours.
acc CoinMarketCapThe valuation of the global crypto market is US$812.52 billion (approximately Rs.67.28,912 billion).
“The main reason for the weakness in the market is the comments coming from both the Fed and the ECB, suggesting that inflation has become more ‘locked in’ in the economy and sustained periods of higher interest rates need to be addressed. This is generally bearish for “risk-on” assets, and global stocks continued to fall throughout the week,” Parth Chaturvedi, Crypto Ecosystem Lead, CoinSwitch, told Gadgets 360.
Today, tether, Binance coin, Solana, Wrapped Bitcoin, Moneroand bitcoin cashopened with losses.
Experts have also pointed out that risks continue to hover over financial markets as the deteriorating war situation in Ukraine poses the greatest threat to commodity and energy supply chains as well as a surge COVID-19 Cases in China, adding more uncertainties.
“In the altcoin universe, Binance’s BNB token remained under selling pressure (down 8 percent) as the rumor mill continued to float the idea of massive withdrawals from the platform. Another major drop was seen in Filecoin (FIL), which was down 30 percent as massive short positions in the token were built. Closer to home, CRE8, an Indian rupee-denominated virtual digital asset (crypto) index, is down 6.3 percent over the past seven days,” Chaturvedi added.
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.
