Bitcoin, Ether trade flat; altcoins’ values fall; chart remains mix of red-green
Lagatar24 Desk
Mumbai, Jan 10: Bitcoin began the year on a multi-month downward trend, but it saw a slight uptick on Sunday, with a 2.37 percent increase in value on Indian markets. Bitcoin’s value hasn’t changed much in the last 24 hours, hovering at $45,931 (approximately Rs. 34.05 lakh) and down 0.49 percent on Indian platforms like CoinSwitch Kuber. Meanwhile, the price of the world’s most popular cryptocurrency is $42,149 (approximately Rs. 31.24 lakh) on global exchanges, up 0.22 percent in the last 24 hours.
On Sunday, Ether, the second-largest cryptocurrency by market capitalization, performed even better. The Ethereum-based cryptocurrency gained 3.48 percent during the day and has maintained its gains into the new week.
On CoinSwitch Kuber, Ether is at $3,463 (about Rs. 2.57 lakh), while the crypto is worth $3,173 (roughly Rs. 2.35 lakh) on worldwide exchanges, where it has gained 1.14 percent in the last 24 hours. Ether’s performance has improved slightly, although it is still down 17 percent in value over the last week.
Ripple, Cardano, and Litecoin are all continuing to fall in price. Polygon, Chainlink, Polkadot, and Uniswap have all seen significant gains in the last 24 hours, but Terra, a public blockchain and decentralised finance (DeFi) ecosystem mainstay, appears to be the greatest gainer.
Meme coins also had a good weekend, but they haven’t been able to maintain their pace. Shiba Inu is presently valued at $0.000031, whereas Dogecoin is currently valued at $0.16 (approximately Rs. 12.31). (roughly Rs. 0.002316). SHIB has lost 15.7 percent of its value in the last week, while Dogecoin has lost 13 percent.
Bitcoin’s value has decreased by almost 10% in the last week, according to CoinGecko, despite the fact that the cryptocurrency has historically been weak in the first month of the year.
Crypto investors have been disappointed by the start of the new year. Only one of the top 20 cryptocurrencies by market capitalization has increased in value in the last seven days. Chainlink takes the prize, with a gain of more than 28%, according to CoinGecko. Since the beginning of the year, the majority of the top coins have lost double digit percentages.