After two days in which most cryptocurrencies opened with a profit, the price chart for Wednesday January 25th reflected losses alongside the majority altcoins. Bitcoin managed to maintain its recently increased price despite a small loss of 2.10%. The value of BTC stood at $22,621 (roughly Rs. 18.4 lakh) at the time of writing. The oldest cryptocurrency also trades around the same price on international exchanges such as Binance and Coinbase. In terms of the numbers, the price of BTC has dropped by $450 (roughly Rs 36,694) in the past 24 hours.
Ether broke its profit streak on Wednesday, posting a 5.80% loss. Ether opened the trade at a price of $1,545 (roughly Rs. 1.26 lakh), crypto price tracker Gadgets 360 showed.
Binance Coin, Cardano, Solana, Polygon, Polkadot, and Litecoin saw declines in value.
The two memecoins Shiba Inu and Dogecoin also opened with losses.
“Over the past 24 hours, most cryptocurrencies have seen slight declines as markets prepare to release US GDP figures on Thursday and consumer confidence data on Friday,” said Edul Patel, CEO and co-founder of Mudrex. crypto investment company at Gadgets. 360.
The overall crypto market valuation is down 3.26% in the past 24 hours. From CoinMarketCapthe current global crypto market capitalization stands at $1.02 trillion (roughly Rs. 83,49,684 crore).
Only a small number of altcoins made a profit. These include Leo, Qtum and Flex.
Despite the volatility plaguing the crypto asset industry, investors continue to show support for cryptocurrencies.
“Whales holding 1,000 to 10,000 BTC have collectively accumulated 64,638 BTC over the past 15 days for a total of around $1.5 billion (approximately Rs. 12,230 crore). In terms of adoption, India-based Polygon has partnered with BitGo, a crypto custody provider that allows MATIC holders to earn rewards by staking their coins and provide wallet and custody facilities,” the CoinDCX research team told Gadgets 360.
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.
Affiliate links may be generated automatically – see our ethics statement for details.