Bitcoin and the wider crypto market have been suffering from a really tough time over the past few days, with BTC falling below $ 30,000 (approximately 23 lakhs) on Monday. However, a slight increase until Tuesday led to a rise in the largest cryptocurrency by market capitalization to about $ 31,000 (approximately 24 lakh). In terms of value, bitcoin is currently priced at $ 33,095 (approximately 25.5 lakh rupees) on the Indian stock exchange CoinSwitch Kuber, falling 1.05 percent in the last 24 hours.

On global exchanges such as CoinMarketCap, Coinbase and Binance, the price of bitcoin amounted to $ 31,266 (approximately 24 lakh rupees), rising by 0.30 percent in value over the past 24 hours. According to CoinGecko datathe value of BTC has already decreased by 16.2 percent this week.

Ether also made a slight comeback after a deplorable start to the week. At the time of publication, Ether is valued at $ 2,525 (approximately Rs. 1.95 lakh) in CoinSwitch Kuber, while global stock market values ​​see the value of the cryptocurrency at $ 2,393 (approximately Rs. 1.85 lakh), where the coin has risen 1.19% in the past 24 o’clock.

CoinGecko data show that the value of cryptocurrency is still minus 14.7% in terms of daily efficiency.

Tracking the prices of cryptocurrencies on Gadgets 360 reveals a picture that no crypto investor would want to see. Not only are all the best altcoins in the red, but the dollar-pegged stablecoins are also failing as Terra grabs the headlines.

The native token of the Terra ecosystem has now fallen by more than 61 percent in the past 24 hours after UST’s stablecoin continued to fall far short of its fixed dollar amid a report that Luna Foundation Guard (LFG), a nonprofit in support of the Terra network, aimed to raise $ 1 billion (approximately Rs 7,722 crore) to restore this parity. The decline followed a 39 percent drop on Monday.

Meanwhile, Uniswap, Cosmos, Avalanche, Cardano, Chainlink, Polygon and Solana have fallen in value.

Shiba Inu and Dogecoin also declined, with Dogecoin rising to $ 0.12 (approximately Rs. 10) after declining 3.72% in value over the past 24 hours, while Shiba Inu is valued at $ 0.000017 (approximately Rs. 0). , 0013), which is a decrease of 3.66% over the past day.

“Cryptocurrency markets opened the day a little higher as aggressive buying declined after the sharp decline. The momentum eventually eased, with investors focusing on the upcoming release of the CPI in the United States. “A combination of weak macroeconomic sentiment along with the collapse of LUNA were the main drivers behind the latest movements in the crypto markets, with contagion effects seen in all sectors of the crypto economy,” CoinDCX’s research team told Gadgets 360.

“However, the funds continue to aggressively invest in space, the latest being an investment of $ 725 million (approximately Rs 5,600 crore) from a16z, Coatue, USV for the Dapper’s Flow blockchain. The future of crypto and blockchain remains bright, with steady progress already being made along the S-shaped technology curve. “


Cryptocurrency is an unregulated digital currency, is not legal tender and is subject to market risks. The information provided in this article is not intended to be and does not constitute financial advice, trade advice or any other advice or recommendation of any kind offered or approved by NDTV. NDTV is not responsible for losses resulting from any investment based on any accepted recommendation, forecast or other information contained in the article.

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