Minor loss to Bitcoin, Ether strong, know the latest condition of crypto market

The crypto charts have shown more downside than profit on the first day of August 2022. There has been a marginal loss of 1.6 per cent in bitcoin prices and according to Indian exchange Coinswitch Kuber, it started trading at $ 24,383 (about Rs 19.30 lakh). Small losses affected bitcoin on a global level as well. For example, the price trackers on Binance and Coinbase showed a decrease of around 1.80 per cent in BTC prices. Despite all these disadvantages, the price of the world’s oldest and popular cryptocurrency remains at around $23,352 (about Rs 18.40 lakh).

On the other hand, Ether prices saw an increase of 1.60 per cent on Monday. According to Gadgets 360’s crypto price tracker, ETH is currently trading at $1,771 (approximately Rs 1.40 lakh).

Most cryptocurrencies have seen significant volatility in daily trade prices after the US Federal Reserve raised interest rates by 0.75 percent for the second time in a row last week. Binance Coin, Ripple, Cardano, Solana, Polkadot and Polygon have seen price losses.

On the other hand, Tether, USD Coin, Shiba Inu, Tron, EOS Coin and Arnold have seen minor but price increases. According to CoinMarketCap, the crypto sector currently has a market cap of $1.09 trillion (approximately Rs 86,30,808 crore), which is down 0.97 percent from the previous day.

Edul Patel, co-founder of crypto investment firm Mudrex, told Gadgets 360 that if BTC continues this rally, we could see it hit the $25,000 mark this week. This trend shows how strong the buyers are in the market. Overall, the market appears to have turned away from the effects of the downturn. Significantly, on Friday, there was an increase in the price of Bitcoin. It had reached close to 24 thousand dollars. On the Indian exchange Coinswitch Kuber, the price of bitcoin was trading at $ 24,240 or about Rs 19.4 lakh and it was up by 2.69 percent compared to Thursday. All cryptocurrencies are expected to perform well in the coming days.

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