On Thursday, October 5, Bitcoin was trading at $27,680 (approximately Rs. 23 lakh) with a profit of 0.91%. This marks the third consecutive day that Bitcoin has been trading within the $27,000 (approximately Rs. 22.40 lakh) range. The value of Bitcoin has surged over the past day. The asset was priced at $27,403 (approximately Rs. 22.80 million) yesterday, a rise of $277 (approximately Rs. 23,050). Market experts say October is expected to bring market consolidation and sideways movements, providing opportunities for long-term investors.
WazirX Vice President Rajagopal Menon told Gadgets 360: “The market calmed down after Monday’s sharp rise and Bitcoin rose, easing traditional market headwinds.”
Ethereum joined Bitcoin on the profit side of the cryptocurrency chart on Thursday. ETH is currently trading at $1,643 (approximately Rs 1.36 lakh) after edging up 0.8%. In the last 24 hours, ETH price has increased by $3 (approximately Rs. 250).
Other cryptocurrencies rising today include Binance Coin, Cardano, Dogecoin, Polygon, Litecoin, and Shiba Inu.
Chainlink, Avalanche, Monero, Cronos, Bitcoin SV and Elrond also brought in small profits.
“Avalanche’s AVAX (layer 1 blockchain) has been the best performer among the major cryptocurrencies on CoinDCX, surging 8% in the past 24 hours,” the CoinDCX research team told Gadgets 360. Its social app Stars Arena is growing in popularity and is a direct competitor to the very popular basic chain app Friend.tech.
According to data, the overall valuation of the cryptocurrency market increased by 0.74% in the past 24 hours to reach $1.09 trillion (approximately Rs 9,073,323 crore). coin market cap.
A large number of cryptocurrencies did see losses today. These include Tether, Ripple, USD Coin, Solana, Tron, Polkadot, and Bitcoin Cash.
Industry experts are optimistic that the latest developments and upcoming Web3 developments will keep the industry hot and running.
Of particular interest yesterday was the exit of Jayanti Kanani from Polygon (commonly known as JD), the co-founder of India’s Layer-2 MATIC (+0.4%). According to his post on x.com, Jayanti has embarked on a new journey. journey, which could mean he could be embarking on a new venture. The entire cryptocurrency market seems to be calming down after Monday’s sharp rise,” Shubham Hudda, senior manager at CoinSwitch Markets Desk, told Gadgets 360.
Cryptocurrency is an unregulated digital currency, not legal tender, and is subject to market risks. The information provided herein is not intended and does not constitute financial advice, trading advice or any other advice or recommendation of any kind provided or endorsed by NDTV. NDTV is not responsible for any loss arising from any investment based on any perceived recommendations, predictions or any other information contained in the article.
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