Bitcoin and Ether Prices Remain Resilient as Terra Leads Altcoin Charge

Although the situation with the Russian-Ukrainian crisis has not necessarily improved over the past two days, the broader crypto market has managed to mark a turnaround with Bitcoin and Ether rising in the past 24 hours. The world’s most valuable cryptocurrency has seen dismal trading over the past 7 days, losing over 14% in value, but on Tuesday Bitcoin saw a 3.24% increase in value over the past 24 hours. . The value of Bitcoin currently stands at $40,341 (roughly Rs. 30 lakh) on the Indian exchange CoinSwitch Kuber.

Meanwhile, on global exchanges, the price of the most popular cryptocurrency stood at $38,002 (roughly Rs. 29 lakh) up 3.45% in the past 24 hours – a key feat for BTC bulls as analysts are of the view that the $38,000 (roughly Rs. 29 lakh) mark is an important support and resistance zone. According to data from CoinGecko, Bitcoin’s strong movement in the first two weeks of February has gained momentum, with the crypto asset dropping 14.6% in value in the past week alone.

Ether, the second-largest cryptocurrency by market capitalization, has also seen a significant decline over the past week, but the past 24 hours has seen the value of the crypto asset rise. At press time, Ether was valued at $2,808 (roughly Rs. 2 lakh) on CoinSwitch Kuber while its value on global exchanges saw the crypto hover above the $2,600 mark (roughly Rs. 2 lakh) to $2,636 (about Rs. 2 lakh). The coin has risen by 3.76% in the last 24 hours. Compared to the price of Ether a week ago, data from CoinGecko reveals that the value of the cryptocurrency has fallen by 16.5%.

Gadgets 360’s cryptocurrency price tracker reveals that all major digital tokens were in the green as the global crypto market capitalization jumped around 3% in the past 24 hours. While Avalanche and Terra are leading the green wave, Polygon, Polkadot, Cardano, and Solana have all followed suit.

Meme coins Shiba Inu and Dogecoin – the two most sought after meme coins – have risen in value over the past 24 hours. Dogecoin is currently valued at $0.14 (about 10 rupees) after rising 4.58% in the last 24 hours, while Shiba Inu is valued at $0.000026 (about 0.002 rupees), up 5 % in the last 24 hours.

As the crypto market shows signs of resilience, Kevin O’Leary, a Canadian multi-millionaire investor, now compares owning Bitcoin to owning shares of software majors. O’Leary, in a recent Twitter post, said that owning BTC assets is similar to owning shares of companies like Microsoft and Yahoo. Between 2019 and 2021, the 67-year-old “Shark Tank” investor went from a staunch opponent of Bitcoin to one of its main promoters. According to his predictions, Bitcoin values ​​will hit $300,000 (roughly Rs. 2.25 crore) once the market achieves greater operational clarity.

Gunnercooke, a UK-based law firm, has officially authorized payments for its services in crypto assets such as Bitcoin and Ether. Founded in 2010, the London-based firm claims to have more than 300 lawyers on its team. By integrating crypto payments into its operation, Gunnercooke is now part of a small group of companies that offer the option of crypto payments and most of them are in the United States.

In an official statement, the law firm claimed to have become the first in the UK to accept fees in Bitcoin and Ether, among other crypto assets.

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 The Bharat Express News. The Bharat Express News 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.