After two days of many cryptocurrencies opening with gains, the price chart showed losses on the side of many altcoins on Wednesday, January 25. Bitcoin managed to hold its recent price increase despite a small loss of 2.10%. The value of BTC, at the time of writing, stands at $22,621 (approximately Rs. 18.4 lakh).
The oldest cryptocurrency is traded at the same price on international exchanges such as Binance and Coinbase. In terms of numbers, BTC price has dropped by $450 (roughly Rs 36,694) in the last 24 hours.
On Wednesday, Ether broke its profit trend and recorded a loss of 5.80%. Ether opened the trade at a price of $1,545 (roughly Rs. 1.26 lakh), crypto price tracker 360 Tools reported.
Binance Coin, Cardano, Solana, Polygon, Polkadot, and Litecoin saw declines in value.
Two memecoins Shiba Inu and Dogecoin also opened in losses.
“In the past 24 hours, most cryptocurrencies have seen a slight decrease as the markets prepare for the release of US GDP figures on Thursday and consumer sentiment data on Friday,” Edul Patel, CEO and Co-Founder of Mudrex crypto investment firm told news channel.
The crypto market price index is down 3.26% in the last 24 hours. According to CoinMarketCap, the current global crypto market capitalization stands at $1.02 trillion (approximately Rs. 83,49,684 crore).
Only a small number of altcoins recorded gains. These include Leo, Qtum and Flex. Despite the change plaguing the crypto asset industry, investors continue to show support for cryptocurrencies.
“Whales holding 1,000 to 10,000 BTC have collected 64,638 BTC totaling about $1.5 billion (about Rs 12,230 crore) in the last 15 days. In the adoption phase, India-based Polygon has partnered with BitGo, a crypto holding that allows MATIC holdings to receive rewards by staking their money, providing wallets and companies" CoinDCX research team told Gadgets 360.
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