After two days in which most cryptocurrencies opened with a profit, the price chart on Wednesday, January 25, reflected losses alongside majority altcoins. Bitcoin managed to maintain its recently increased price despite a small loss of 2.10 percent. The value of BTC stood at $22,621 (approximately 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 numbers, BTC fell in price by $450 (approximately Rs. 36,694) in the past 24 hours.
Ether broke its profit streak on Wednesday, posting a 5.80 percent loss. Ether opened trading at the price of $1,545 (approximately Rs. 1.26 lakh), Gadgets 360 crypto price tracker showed.
Binance Coin, Cardano, Solana, Polygon, Polkadot, and Litecoin witnessed drops in value.
The two memecoins Shiba Inu and Dogecoin also opened with losses.
“Over the past 24 hours, most cryptocurrencies have seen a slight decline as markets prepare to release US GDP numbers on Thursday and consumer confidence data on Friday,” said Edul Patel, CEO and co-founder of Mudrex. crypto investment firm to Gadgets. 360.
The overall valuation of the crypto market is down 3.26 percent in the past 24 hours. From CoinMarketCapthe current global crypto market cap stands at $1.02 trillion (approximately Rs. 83,49,684 crore).
Only a small number of altcoins made profits. These include Leo, Qtum and Flex.
Despite the volatility plaguing the crypto asset sector, investors continue to show support for cryptocurrencies.
“Whales holding 1,000 to 10,000 BTC have collectively accumulated 64,638 BTC in the past 15 days for a total of approximately $1.5 billion (approximately Rs. 12,230 crore). In terms of adoption, India-based Polygon partnered with BitGo, a crypto custody provider that enables MATIC holders to earn rewards by staking their coins and provide wallet and custody facilities,” the CoinDCX research team told Gadgets 360.
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