Crypto price chart shows gains and losses as altcoins surge while Bitcoin and Ether see dips

Bitcoin opened with losses on Monday, January 17, entering the third week of 2022. With a drop of 0.57%, each Bitcoin token is trading at $46,214 (roughly Rs. 34.2 lakh) on the Indian exchange CoinSwitch Kuber. On international exchanges as well, Bitcoin suffered a similar marginal price loss. The oldest cryptocurrency in the world is trading at around $42,500 (roughly Rs. 31.6 lakh) on global exchanges such as CoinMarketCap and Binance. Along with Bitcoin’s failure to gain, Ether also recorded losses.

Ether is trading at $3,532 (roughly Rs. 2.62 lakh) per token. According to Gadgets 360’s crypto price chart, Ether suffered a loss of 1.40% and lost value from its previous closing price of $3,582 (roughly Rs. 2.65 lakh).

Ripple, Polkadot, Dogecoin and Shiba Inu among a bunch of other popular altcoins also saw price declines, following Bitcoin and Ether.

Market momentum slowed again today after seemingly accelerating earlier last week following US inflation rising to a 39-year high of 7%. On January 13, Bitcoin was trading at $43,598 (roughly Rs. 32.2 lakh) on international exchanges.

According to industry insiders, the growing popularity of altcoins among investors could pose a challenge to Bitcoin’s supremacy.

As Bitcoin’s importance begins to waver, BitPay saw a 27% drop in the number of merchants processing Bitcoin payments in 2021, and an increase in transactions in stablecoins, Ether and Dogecoin, the research team said. CoinDCX at Gadgets 360. With altcoins gaining traction among retail investors, we could see other digital assets challenge Bitcoin’s pole position and place as a safe-haven asset in 2022.

Meanwhile, a bunch of cryptocurrencies managed to post gains despite the mega ones suffering losses.

Tether, Cardano, USD Coin, Polygon, Chainlink, Uniswap, and Litecoin climbed the price ladder with small but significant gains.

Predictions from billionaire business moguls such as Elon Musk and Mark Cuban point to a bright future for the crypto industry in the times to come.

While Musk opened up payments for Tesla goods in DOGE, Cuban recently called Ether the closest crypto asset we have to existing fiat currencies.

The maturing crypto sector should also see lesser criminals trying to misuse cryptocurrencies in the near future, according to a report by research firm Chainalysis.

The study claims that the criminal use of cryptocurrencies will decline around the world as more governments learn to take advantage of the uncensored transparency offered by blockchain technology.

Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and WeekendInvesting Founder Alok Jain on Orbital, Gadgets 360 Podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get it. your podcasts.

Cryptocurrency is an unregulated digital currency, which is not legal tender and is subject to market risk. The information provided 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 offered or endorsed by NDTV. NDTV shall not be liable for any loss resulting from any investment based on any perceived recommendation, forecast or any other information contained in the article.

Check out the latest from the Consumer Electronics Show on Gadgets 360, in our CES 2022 hub.

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

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