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Bitcoin opened with a tiny 0.21% gain on Thursday as the crypto market, which has been low on the value ladder for almost a month now, begins to show signs of recovery. At the time of writing, Bitcoin is priced at $16,853 (roughly Rs. 13.9 lakh). This is the fourth day in a row that BTC has failed to break above the price of $17,000 (about Rs. 14 lakh), although it briefly topped that figure ahead of the US consumer confidence report. Wednesday. Also on international exchanges such as Binance and CoinMarketCap, the price of Bitcoin rose 0.21% to trade at the same price.

It should be noted that despite Bitcoin’s lackluster performance, retail adoption is on the rise. “BTC adoption has reached an all-time high with a record 17% of total circulating supply held by addresses with less than 10 BTC in a wallet,” the CoinDCX research team told Gadgets 360. .

Ether followed Bitcoin to post small gains on Thursday. ETH is currently trading at $1,213 (roughly Rs. 1 lakh) after posting a gain of 0.55% according to crypto price tracker Gadgets 360.

Stablecoins such as Tether, USD Coin, and Binance USD also saw small price increases.

Solana, Uniswap, LEO, Wrapped Bitcoin, Chainlink and Monero opened the trade with small but significant gains.

The total crypto market is up 0.26% in the past 24 hours. From CoinMarketCapthe sector is valued at $810 billion (about Rs. 67,08,914 crore).

Meanwhile, several cryptocurrencies suffered losses on Thursday. These include Binance Coin, Cardano, Polygon, Polkadot, and Litecoin.

“Despite the slow momentum, we are seeing growing adoption by the biggest players in the crypto ecosystem. Visa supports Ethereum’s automatic payment system from self-custodial wallets, allowing users to set up recurring bill payments; exchanged in a decentralized way, Uniswap has partnered with Moonpay, a financial technology company that allows users to buy crypto via debit cards, credit cards and bank transfers; Mercedes- Benz, one of the largest automakers, recently filed five trademark applications related to the Metaverse and NFT,” the CoinDCX team added.

Cryptocurrency is an unregulated digital currency, not legal tender and subject to market risk. The information in the article is not intended to and does not constitute financial advice, business advice or any other advice or recommendation of any kind offered or endorsed by NDTV. NDTV is not responsible for any loss resulting from an investment based on observed recommendations, forecasts or other information contained in the article.

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