Losses in Bitcoin, Ether Today, Crypto Market Cap Down 1.29%

While the price of many cryptocurrencies corrected in the beginning of August, by the end of it, the prices of many popular cryptocurrencies seem to be losing a lot. Bitcoin started the week with a slight downtrend. It opened with a decline of 0.74 percent. According to the Indian exchange Coinswitch Kuber, bitcoin is currently trading at $19,808 (approximately Rs 15.80 lakh). No correction was observed in the price of bitcoin on international exchanges. It is trading at $19,830 (about Rs 15.80 lakh) on global exchanges like CoinMarketCap and Binance.

As is often seen, Ether also followed Bitcoin in terms of trading. According to Gadgets 360 Crypto Price Tracker, Ether is currently trading at $1,450 (roughly Rs. Its price has registered a decline of 2.70% in the last 24 hours. The prices of Tether, Ripple, Cardano, Solana, Polkadot and Polygon also recorded a decline.

Edul Patel, CEO of crypto investment platform Mudrex, told Gadgets 360 that most cryptocurrencies have not recovered after the Federal Reserve announced a hike in interest rates. Investors are waiting for a correction in the market, but no change seems to be coming at the moment. If the price of bitcoin closes below $19,500 (approximately Rs 15.60 lakh) today, then further downside is likely to be seen.

Binance Coin, Binance USD, Litecoin, Monero, Bitcoin Cash were the tokens that showed slight improvement. Dodgecoin and Shiba Inu, the most popular tokens of the Mime cryptocurrency, were also in the red today. Both MIME tokens saw a decline today. The crypto industry is currently valued at $954.11 billion (about Rs 76,35,042 crore). It has declined by 1.29 percent in the last 24 hours.

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