Bitcoin Price Rises Steadily as Ethereum and Dogecoin Record Losses

Bitcoin opened trading on Tuesday at the price point of $21,125 (roughly Rs 17.2 lakh) with a minor profit of 0.80 percent. The oldest and most widely used cryptocurrency has maintained its trajectory on international exchanges such as Binance and CoinMarketCap as well. In the last 24 hours, Bitcoin prices have risen by $50 (roughly Rs.4.089). The overall crypto price charts saw gains and losses for multiple digital assets, as volatility continued to reign over the sector.

Unlike Bitcoin, Ether saw a marginal 0.08 percent drop in value to trade at $1,562 (roughly Rs. 1.27 lakh), according to the crypto price tracker by Gadgets 360.

Tether, USD Coin, Polyon, and Avalanche emerged on the profit-making end of the crypto price charts along with BTC.

Leo, Cronos, Aave, Dash, and NEM also reeled in profits on Tuesday.

Despite so many altcoins having registered small gains, the overall crypto market valuation dropped down by 0.25 percent over the last 24 hours. As per CoinMarketCap, the current valuation of the crypto sector stands at $990 billion (roughly Rs. 80,94,548 crore).

Dogecoin and Shiba Inu on the other hand, recorded losses on Tuesday.

Binance Coin, Ripple, Cardano, Solana, and Litecoin also saw dips in value.

Tron, Uniswap, Cosmos, Chainlink, and Monero saw their prices fall on Tuesday.

“A renewed healthy hash-rate and improving mining metrics suggests that the worst of the miner capitulation saga is behind us. On-chain analysis also confirms that wallets holding 100 to 10,000 ETH, have been accumulating the past two months adding 3,000 new addresses, nearly amounting to 50,000 wallets, the highest level since a year. These strong accumulation trends coupled with promising macroeconomic data concerning a lessening inflation have led to strong rallies in the equities and crypto market alike with the risk-on sentiment reignited,” the CoinDCX research team told Gadgets 360.

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