The struggle to generate momentum for bitcoin as well as the broader cryptocurrency market continued on Monday as prices traded flat with no major developments to lift the mood for crypto traders. That said, the value of bitcoin has seen a correction of 2.72 percent in the last 24 hours, pushing its price past the $20,000 (approximately Rs 15.97 lakh) mark across global exchanges, while Indian exchange CoinSwitch Kuber values BTC. Is. At $20,199 (approx Rs 16.13 lakh), 1.36 per cent more than yesterday.
On global exchanges such as CoinMarketCap, Coinbase, and Binance, bitcoin is priced at $20,406 (approximately Rs 16.3 lakh), while CoinGecko information Shows that the value of BTC is currently down 4.4 percent compared to last Tuesday.
On the other hand, Ether has made a strong showing in the past days after coming under sudden buying pressure following the recent sell-off. As things stand, Ether is valued at $1,535 (approximately Rs 1.22 lakh) on Coinswitch Kuber, while the value of crypto on global exchanges is $1,570 (approximately Rs 1.25 lakh), where the value of the cryptocurrency is lower than the previous year. has increased by 7.96 percent. last 24 hours.
Ether’s performance in the week so far has helped the cryptocurrency’s value recover from last week’s close, however. [CoinGecko data] ,https://www.coingecko.com/en/coins/ethereum) suggest that there is still land to build.
Gadgets 360’s cryptocurrency price tracker shows that most major altcoins posted major gains in the past days. The global crypto market capitalization also saw a substantial increase of 4.3 percent late Monday and early Tuesday.
Cardano, Polygon, Polkadot, Uniswap, Cosmos, Solana, Monero, Cosmos, Avalanche and BNB all saw price drops in the past 24 hours.
Memecoins Shiba Inu and Dogecoin also followed most of the altcoins with gains. Dogecoin is currently priced at $0.07 (approximately Rs.
Jay Fraser, head of strategy at the BSTX securities exchange, said, “It is clear that even as long-term holders are depositing at the retail level, the number of wallets holding relatively small amounts of bitcoin is actually increasing.” Talking to Reuters,
“Don’t underestimate the impact of retail HODLers,” Fraser said, referring to a group whose name emerged years ago from a merchant’s misspelling “hold” on an online forum. “The lack of sales helps to create further shortages that will, ultimately, replay a supply shock for bitcoin.”
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