The price of bitcoin fell sharply by $26,022 (roughly Rs 2.16 lakh) on Wednesday, trading down 0.14 percent. Bitcoin, the most expensive cryptocurrency, has been trading near the $26,000 (roughly Rs 2.1 lakh) mark for several days. Numerous macroeconomic factors have depressed the price of cryptocurrencies, and investors are not planning to make high-risk investments for the time being. Most other cryptocurrencies are facing the fallout due to low Bitcoin transaction volume.
Gadgets 360’s cryptocurrency price tracker showed ether falling 1.99% on Wednesday. As of writing, ETH is trading at $1,630 (roughly Rs 1.35 lakh).
Over the past 24 hours, both bitcoin and ethereum have experienced small price drops. BTC fell by $13 (roughly Rs. 1,079), while ETH fell by $33 (roughly Rs. 2,740).
A bunch of altcoins are on the losing side of BTC and ETH on the cryptocurrency chart.
These include Tether, Ripple, USD Coin, Cardano, Dogecoin, and Solana.
Other cryptocurrencies currently suffering losses include Polkadot, Polygon, Litecoin, Avalanche, Stellar, Chainlink and Uniswap.
According to the data, the overall market capitalization of cryptocurrencies fell by 0.49% in the past 24 hours and remained at the $1.05 trillion (approximately Rs 87,24,334 crore) mark. coin market cap.
The Crypto Fear and Greed Index has remained in the fear zone since yesterday, with a score of 37/100 unchanged.
“BTC’s dominance has declined slightly and is now around 49.27%. BNB, the fourth-largest cryptocurrency by market capitalization, fell to a one-year low yesterday. Shubham Hudda, senior manager at CoinSwitch Markets Desk, told Gadgets 360: “Over the past 24 hours, The cryptocurrency market has seen more selling pressure. “
Gaming tokens Decentraland and Aave edged higher on Wednesday despite losses in major cryptocurrencies.
Leo, Near Protocol, Zcash, and Dash also all made small profits.
Shiba Inu also surged 3.13 percent on Wednesday. SHIB developers are now confident that their new L2 blockchain, Shibarium, will be able to handle the expected load.
Cryptocurrency is an unregulated digital currency, not legal tender, and there are market risks. The information presented herein is not intended to and does not constitute financial advice, trading advice or any other advice or recommendation of any kind offered or endorsed by NDTV. NDTV is not responsible for any losses arising from any investment based on any perceived advice, forecast or any other information contained in the article.
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