Bitcoin Leads Most Altcoins Up the Price Ladder as Crypto Chart Boasts Profits
The global crypto trading volume rose by seven percent in the last 24 hours, and its direct effect reflected on the price charts on Friday, March 25. Bitcoin, with a gain of 2.92 percent, opened trading at $44,643 (roughly Rs. 34 lakh) on Indian exchange CoinSwitch Kuber. On international exchanges, BTC roped in similar gains and improved its global trading value. With profits of over 2.5 percent, the world’s oldest cryptocurrency is trading at $43,971 (roughly Rs. 33.5 lakh).
Ether bagged bigger gains than Bitcoin. As per Gadgets 360’s crypto price tracker, Ether gained 3.88 percent and opened trading at $3,187 (roughly Rs. 2.5 lakh) in India. On Binance and CoinMarketCap, ETH rose by 3.55 percent taking its trade values to around $3,138 (roughly Rs. 2.3 lakh).
Tether, Binance Coin, USD Coin, Ripple, and Cardano emerged among other profit-reapers.
Solana, Avalanche, and Polkadot also registered gains.
“BTC’s dominance is currently at 41.82 percent, while its resistance lies between $46,000 (roughly Rs. 35 lakh) and $51,000 (roughly Rs. 39 lakh). BTC can reverse the four-month-long downtrend if it crosses the lower resistance of $46,000 (roughly Rs. 35 lakh),” Edul Patel, CEO and Co-Founder of Mudrex crypto investment firm, told Gadgets 360.
A small number of altcoins opened with losses today, opening up opportunities for interested investors to buy the dips if they please.
Memecoins DOGE and SHIB both opened with slashed prices.
Binance USD, SushiSwap, DOGEFI also joined the value losing bench of altcoins.
Nevertheless, the overall sentiment towards cryptocurrencies seem to be taking a positive turn amid geopolitical tensions.
Pavel Zavalny, the chief of the Russian Federation, has reportedly hinted at the possibility of accepting Bitcoin as payment mode for its oil and gas from “friendly countries” such as China and Turkey.
At a time the US is seeking a glimpse into El Salvador’s financial performances post legalising BTC, Salvadoran president Nayib Bukele has met with Binance CEO Chengpeng Zhao, who is currently visiting the first nation in the world to have legalised Bitcoin.
Industrially speaking, Meta has joined the list of tech giants to file Web 3-related trademarks in the US. The company has filed for a total of eight trademarks.
The market cap of the overall crypto market has touched $2 trillion (roughly Rs. 1,52,39,826 crore) for the first time in 2022.
Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall 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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