Bitcoin opened Thursday with a tiny gain of 0.21 percent as the crypto market, which has been low on the value scale for nearly a month, shows signs of recovery. At the time of writing, Bitcoin is priced at $16,853 (roughly Rs. 13.9 lakh). This is the fourth straight day that BTC has failed to surpass the $17,000 price tag (about 14 lakh), despite briefly surging above that figure ahead of the US Consumer Confidence Report on Wednesday. Also on international exchanges like Binance and CoinMarketCap, Bitcoin’s price rose 0.21 percent to trade at the same price point.
It is noteworthy that despite bitcoin’s lackluster performance, retail adoption is increasing. “BTC acceptance hit an all-time high with a record 17 percent of the total circulating supply held by addresses holding less than 10 BTCs in a wallet,” the CoinDCX research team told Gadgets 360.
ether followed Bitcoin to register small profits on Thursday. ETH is currently trading at $1,213 (roughly Rs.1 lakh) after posting a 0.55 percent gain, according to Gadgets 360’s Crypto price tracker.
stablecoins such as tether, USD coinand Binance USD also saw smaller price increases.
Solana, Uniswap, LION, Wrapped Bitcoin, chain linkand Monero opened trading with small but significant profits.
The overall crypto market grew by 0.26 percent in the last 24 hours. acc CoinMarketCapThe sector valuation is USD 810 billion (approximately Rs. 67.08.914 crore).
Meanwhile, several cryptocurrencies were hit with losses on Thursday. These include Binance coin, Cardano, polygon, Speckleand Litecoin.
“Despite the sluggish momentum, we are seeing increasing adoption of the crypto ecosystem among the larger players. Visas supportive ether automatic payment scheme from self-custody wallets that allow users to set up recurring bill payments; decentralized swapped, Uniswap partnered with Moonpay, a fintech company, to allow users to buy cryptos via debit cards, credit cards, and bank transfers; Mercedes-Benz, one of the largest automakers, recently submitted five metaverses and NFT related Trademark filings,” added the CoinDCX team.
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.
