Bitcoin started the year off a multi-month drop, but experienced a small rebound on Sunday as we witnessed a 2.37 percent rise in value on Indian exchanges. However, as of this writing, the value of Bitcoin hasn't moved much, sitting at $ 45,931 (roughly Rs. 34.05 lakh) and is down just 0.49 percent in the last 24 hours on Indian exchanges like CoinSwitch Kuber. Meanwhile, on global exchanges, the price of the world's most popular cryptocurrency is $ 42,149 (roughly Rs. 31.24 lakh), an increase of 0.22 percent in the last 24 hours.
Ether, the second-largest cryptocurrency by market cap did even better on Sunday. The Ethereum-based cryptocurrency witnessed a 3.48 percent surge on the day and hasn't let the momentum fade into the new week. At press time, Ether is worth $ 3,463 (roughly Rs. 2.57 lakh) on CoinSwitch Kuber, while securities on global exchanges see the cryptocurrency pegged at $ 3,173 (roughly Rs. 2.35 lakh). ), where the coin saw an increase of 1.14 percent. during the last 24 hours. The surge makes Ether's performance marginally improve, but it is still falling 17 percent in value over the last week.
Gadgets 360 cryptocurrency price tracker reveals a bit of a mixed bag in terms of performance for most of the well-known altcoins. Wave, Cardano, Y Litecoin all continue their downward slide in red. Polygon, Link of the chain, Moles, Y Uniswap All see strong momentum in green, while Terra, the stalwart of the public blockchain and decentralized finance (DeFi) ecosystem, appears to be the biggest winner in the last 24 hours.
Meme coins also had a fairly positive run over the weekend, but they haven't kept up the momentum. dogecoin It is currently valued at $ 0.16 (roughly Rs. 12.31), while, Shiba Inu It is valued at $ 0.000031 (approximately Rs. 0.002316). SHIB's value is down 15.7 percent last week, while Dogecoin is down 13 percent.
According to CoinGecko, Bitcoins the value has dropped more than 10 percent over the last week, despite the cryptocurrency historically weak for the first month of the year.
So far, the new year has only brought disappointment for cryptocurrency investors. Only one of the top 20 cryptocurrencies by market capitalization has risen in price in the last seven days. That honor goes to Chainlink, which is up more than 28 percent, according to CoinGecko. Most of the major currencies have posted double-digit percentage losses since the beginning of the year.
Cryptocurrency is an unregulated digital currency, it is not a legal tender and is subject to market risks. The information provided in the article is not intended to be or constitutes financial advice, business advice or any other advice or recommendation of any kind offered or endorsed by NDTV. NDTV will not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.
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