BTC, ETH showed no price improvements, although most altcoins posted gains

The top two cryptocurrencies, Bitcoin and Ether, have failed to show significant price improvements, at least for more than a week. Bitcoin on Friday was marginally down 0.09 percent to open trade at $16,823 (roughly Rs. 13.9 lakh). The first cryptocurrency followed a similar market move on international exchanges such as Binance, Coinbase and CoinMarketCap to trade at the same price point. In the last 24 hours, BTC values ​​have declined by $30 (approx. Rs. 2,484) from its last day’s price point of $16,853 (approx. Rs. 13.9 lakh).

Ether, unlike Bitcoin, opened with small gains. At the time of writing, ETH was trading at $1,221 (roughly Rs. 1.01 lakh), with a mini gain of 0.75 percent, according to Gadgets 360’s crypto price tracker.

In general, cryptocurrency charts reflect more green than red today.

Among the profit-mining tokens, USD Coin, Binance USD, Ripple, Cardano, Polygon and Polkadot — made a mark.

Dogecoin and Shiba Inu also saw gains of 5.57% and 0.71% respectively.

The global crypto market is up 0.21 percent in the last 24 hours.

According to CoinMarketCapthe global crypto market valuation stands at $812.52 billion (approximately Rs. 67,28,912 crores).

“The main reason for the weakness in the market is commentary coming from both the Fed and the ECB, with suggestions that inflation has become more ‘entrenched’ in the economy and will require prolonged periods of higher interest rates to dissipate . This is bearish on ‘risky’ assets in general and global stocks continued to sink during the week,” Parth Chaturvedi, Head of Crypto Ecosystem, CoinSwitch told Gadgets 360.

Today Tether, Binance Coin, Solana, Wrapped Bitcoin, Monero and Bitcoin Cash opened with losses.

Experts also pointed out that risks continue to hover over financial markets amid the worsening military situation in Ukraine, which is the biggest threat to commodity and energy supply chains, and a surge in COVID-19 cases in China. adding more uncertainty.

“In the altcoin universe, Binance’s BNB token continued to come under selling pressure (down 8 percent) as rumor mills continued to refute the idea of ​​mass withdrawals from the platform. Another big drop was seen in Filecoin (FIL), which fell 30 percent as massive short positions built up in the token. Closer to home, CRE8, an Indian rupee-denominated virtual digital asset (crypto) index is down 6.3 percent over the past seven days,” Chaturvedi added.

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