Bitcoin hasn’t dipped by a whole lot over the past week but the week hasn’t begun particularly well for the largest cryptocurrency by market cap as the wider crypto market continues to battle high volatility. Bitcoin witnessed a rough 2.37 percent dip in value through Monday and is currently at $45,553 (roughly Rs. 33.88 lakh), down by 1.04 percent over the past 24 hours on Indian exchange CoinSwitch Kuber. Meanwhile, on global exchanges, the price of the most popular cryptocurrency stands at $42,060 (roughly Rs. 31.28 lakh) down by 1.44 percent over the past 24 hours.
Ether, the second-largest cryptocurrency by market capitalisation showed signs of recovery over the weekend but has had a weak start to this week. The Ethereum-based cryptocurrency witnessed a dip of 4.46 percent through Monday and hasn’t begun Tuesday on a strong note either. At the time of publishing, Ether is valued at $3,447 (roughly Rs. 2.56 lakh) on CoinSwitch Kuber while values on global exchanges see the crypto pegged lower at $3,182 (roughly Rs. 2.36 lakh), where the coin saw a dip of 2.03 percent over the past 24 hours.
Bitcoin and Ether aren’t the only cryptocurrencies that have had a slow start to the week. Gadgets 360’s cryptocurrency price tracker shows that most popular atlcoins witnessed a drop in value over the past 24 hours. Ripple, Polkadot, Chainlink, Uniswap, Polygon, and Litecoin are all in the red. Tether and Cardano turned out to be the only cryptocurrencies to see prices surge. Cardano, in fact, appears to be doing particularly well as CoinGecko data shows a 39 percent rise in value for the “Ethereum-killer” over the past week.
Meme coins have seen a bit of a surge in value over the past week in general, but the week hasn’t begun well for them either. Dogecoin is currently valued at $0.18 (roughly Rs. 13.71) after dipping by 4.96 percent through Monday, while, Shiba Inu is valued at $0.000031 (roughly Rs. 0.002316), down 1.7 percent over the past 24 hours.
“The global cryptocurrency market cap slipped 2 percent to $2.15 trillion (roughly Rs. 1,59,96,049 crore) While cryptocurrency prices plunged with Bitcoin trading below $43,000 (roughly Rs. 31.99 lakh). Cardano has surged up to 7 percent in the past 24 hours. This surge in ADA could be because of the developments with regard to its blockchain. The inflation rates in the US might soon fuel the demand for Bitcoin and other cryptos. The coming days would be critical for the crypto spectrum,” says Edul Patel, CEO and co-founder of crypto investment firm Mudrex speaking to Gadgets 360.