Bitcoin started the year on a multi-month low, but saw some rebound on Sunday when we saw a 2.37 percent jump in value on Indian exchanges. At the time of writing, the value of Bitcoin has not changed much, standing at $45,931 (~Rs 34.05) and declining just 0.49 percent in the past 24 hours on Indian exchanges such as CoinSwitch Kuber. Meanwhile, on global exchanges, the price of the world’s most popular cryptocurrency reached $42,149 (about Rs 31.24 lakh), an increase of 0.22 percent over the past 24 hours.
Ether, the second largest cryptocurrency by market capitalization, performed better on Sunday. The Ethereum-based cryptocurrency saw a 3.48 percent gain on the day and didn’t let the momentum slip into the new week. At the time of publication, Ether was valued at $3,463 (about Rs 2.57 lakh) on CoinSwitch Kuber while values on global exchanges see the cryptocurrency fixed at $3,173 (approximately Rs 2.35), with the coin up 1.14 percent over the course of the year. the past 24 hours. The rally sees Ether improving marginally but still down 17 percent in value over the past week.
Gadgets 360 crypto price tracker reveals a slightly mixed bag in terms of performance for most of the popular cryptocurrencies. Ripple, Cardano and Litecoin are continuing their downward slide in the red. Polygon, Chainlink, Polkadot and Uniswap all see a boost in the green, while Terra appears to be the biggest gainer over the past 24 hours.
Meme Coins posted fairly positive over the weekend as well but didn’t keep the momentum high. Dogecoin is currently valued at $0.16 (approximately Rs 12.31), while Shiba Inu is valued at $0.00031 (approximately Rs 0.002316). The value of SHIB is down 15.7 percent in the past week, while the value of Dogecoin is down 13 percent.
According to CoinGecko, the value of Bitcoin has fallen more than 10 percent over the past week, even though the cryptocurrency has been historically weak during the first month of the year.
The new year has so far brought nothing but disappointment to crypto investors. Only one of the top 20 cryptocurrencies by market capitalization has grown in price over the past seven days. That honor goes to Chainlink, which is up more than 28 percent, according to CoinGecko. Most of the major coins have recorded double-digit losses since the beginning of the year.
Cryptocurrency is an unregulated digital currency that is not legal tender and is subject to market risk. The information in the article is not intended to be and does not constitute financial advice, business advice or any other advice or recommendation of any kind provided or approved by NDTV. NDTV will not be liable for any loss arising from any investment based on any recommendation, forecast or any other information contained in the article.
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