Bitcoin, Ethereum record small price swings, falling Stablecoin prices: all the details

After two days in which most cryptocurrencies made gains, several cryptocurrencies saw their prices fluctuate on Thursday. Bitcoin, down 0.37 percent, opened trading at $16,816 (approximately Rs. 13.9 lakh). The value of the oldest cryptocurrency also remained unchanged on international exchanges such as Binance, CoinMarketCap and Coinbase. Despite the small loss, the value of BTC has increased by a total of $123 (approximately Rs. 10,175) in the past 24 hours and remains below the price of $17,000 (approximately Rs. 14 lakh).

Ether saw a small increase in value of 0.03 percent. The second most valued cryptocurrency after Bitcoin is currently trading at $1,251 (approximately Rs. 1.03 lakh), according to Gadgets 360 crypto price tracker.

Stablecoins such as Tether, USD Coin, Ripple and Binance USD all posted small losses.

Similarly, Litecoin, Polkadot, Tron, Solana, Uniswap, Leo, Chainlink, and Cosmos also saw value drops.

On the other hand, currencies such as Binance Coin, Cardano, Polygon, Avalanche and Monero saw gains on Thursday.

Monero, Bitcoin Cash, Near Protocol, Bitcoin SV, Elrond and Decentraland also made profits.

Both the memecoins Shiba Inu and Dogecoin yielded small but remarkable profits.

According to data shared by CoinMarketCap. The market capitalization of the crypto sector currently stands at $820 billion (approximately Rs. 67,90,345 crore).

In countries like India and Israel, governments are trying to spread awareness and regulate the crypto sector.

Meanwhile, the recent collapse of crypto exchange FTX that shook up the crypto market continues to impact the world of crypto. Sam Bankman-Fried, the former CEO of the demolished FTX crypto exchange, pleaded not guilty in Manhattan federal court in New York. Bankman-Fried, who is accused of defrauding FTX customers, has denied illegally using customers’ money for personal expenses.

With FTX out of the picture, Binance tops the list of crypto exchanges that gained the most market share in 2022.

Arcane Research recently noted that Binance had 61 percent market dominance by volume in the Bitcoin derivatives market last year. The exchange also held 92 percent of Bitcoin’s spot market share.

Cryptocurrency is an unregulated digital currency, not legal tender and subject to market risks. The information in the article is not intended to and does not constitute financial advice, trading 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 any observed recommendations, forecasts or other information contained in the article.

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