Bitcoin Drops After Days Of Rallying, Losses Hit Most Altcoins

Ether made a loss move just like bitcoin. Ether (ETH) started trading at a price point of $1,523 (roughly Rs. 1.23 lakh) with a fall of 4.33 percent. Thus the second most valuable crypto asset fell by $58 (roughly Rs. 4,715).

Tether, USD Coin, Ripple and Binance USD which are other popular currencies are trading with losses. Behind these, other popular altcoins like Cardano, Polygon, Solana, Polkadot and Litecoin etc. have also been added.

A similar situation is being seen with both the meme coins Shiba Inu and Dogecoin. The overall crypto market valuation fell 2.7 percent in the last one day. According to CoinMarketCap, the crypto market cap is $969 billion (roughly Rs. 78,78,211 crores).

Today only a handful of cryptocurrencies are making profits. These include dashes, circuits of value, and flexes.

Despite the volatility in today’s market, industry experts remain optimistic. “The global crypto market cap increased by 16.10 percent over the past seven days. Additionally, the number of daily transactions recorded on the bitcoin blockchain grew by nearly 300,000, the highest level since April 2021,” the CoinDCX research team informed. Gave.

More decentralized apps (dApps) are expected to enter the Web3 market in the coming months this year.

The CoinDCX team said, “Ethereum on-chain activity shows an increase in the number of smart contracts deployed on the Ethereum mainnet, which has increased by 293 percent compared to 2021. Additionally, the implementation rate of smart contracts on Ethereum’s Goerli testnet is expected to increase in 2022.” 187 percent growth in the last three months of 2017. That’s 721 percent year-over-year, touching an all-time high of 2.7 million. And there is a sign that more decentralized apps may enter the market in the future. “