Crypto Price Today: Bitcoin and Ether See Profits, Losses Hit Altcoins Like Solana, Tron

Bitcoin, as of October 5, is trading at the price point of $27,680 (roughly Rs. 23 lakh).

Written by Radhika Parashar, Edited by Siddharth Suvarna | Updated: 5 October 2023 11:49 IST

Crypto Price Today: Bitcoin and Ether See Profits, Losses Hit Altcoins Like Solana, Tron

Photo Credit: Pixabay/ Dean Crosby

The crypto market valuation as of today stands at $1.09 trillion

Highlights

Ripple, USD Coin recorded losses
Bitcoin SV, Elrond saw profits
Bitcoin Cash recorded price dips

Bitcoin minted a profit of 0.91 percent on Thursday, October 5 to trade at the price point of $27,680 (roughly Rs. 23 lakh). This marks the third consecutive day that Bitcoin is trading in the range of $27,000 (roughly Rs. 22.4 lakh). Over the last day, Bitcoin has shown a substantial rise in its value. The asset, that was priced $27,403 (roughly Rs. 22.8 lakhs) yesterday, rose by $277 (roughly Rs. 23,050). As per market experts, October is expected to bring market consolidation and sideways movement, providing opportunities for long-term investors.

“Bitcoin's gain follows a market calm-down after Monday's sharp rally, easing traditional market headwinds,” Rajagopal Menon, Vice President, WazirX told Gadgets 360.

Ether joined Bitcoin on the profit-side of the crypto chart on Thursday. ETH is presently trading at $1,643 (roughly Rs. 1.36 lakh) after seeing a miniscule gain of 0.8 percent. In the last 24 hours, ETH rose in price by $3 (roughly Rs. 250).

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Other cryptocurrencies that registered gains today include Binance Coin, Cardano, Dogecoin, Polygon, Litecoin, and Shiba Inu.

Small profits were also churned by Chainlink, Avalanche, Monero, Cronos, Bitcoin SV, and Elrond.

“Avalanche's AVAX, a Layer 1 blockchain, has been a top performer in CoinDCX among major cryptocurrencies, with an impressive eight percent surge in the last 24 hours,” the CoinDCX research team told Gadgets 360. This rally in AVAX price comes due to the gaining popularity of its social app Stars Arena, which is a direct competitor of the very popular base chain app Friend.tech.

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The overall valuation of the crypto market rose by 0.74 percent in the last 24 hours to sit on the mark of $1.09 trillion (roughly Rs. 90,73,323 crore), as per CoinMarketCap.

A notable number of cryptocurrencies did see losses today. These include Tether, Ripple, USD Coin, Solana, Tron, Polkadot, and Bitcoin Cash.

Industry experts are optimistic that newer developments and upcoming Web3 developments will keep the sector hot and running.

“A special focus yesterday remained on the exit of Jayanti Kanani from Polygon, popularly known as JD, the co-founder of India-based layer-2 MATIC (+0.4 percent). According to his post on x.com, Jayanti has embarked on a new journey, which could mean a new venture he might be starting. The overall crypto market seems to be calming down after Monday's sharp rally,” Shubham Hudda, Senior Manager, CoinSwitch Markets Desk told Gadgets 360.

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Cryptocurrency Prices across Indian exchanges

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Further reading: Cryptocurrency, Bitcoin, Ether, Qutm, Wrapped Bitcoin, Zcash, Tether, USD Coin, Ripple, Binance USD, Binance Coin, Cardano, Polygon, Solana, Polkadot, Dogecoin, Shiba Inu, Litecoin, Uniswap, Tron, Monero, Dash, Bitcoin Cash, Flex, Cartesi, Braintrust, Kishu Inu, Circuits of Value

Radhika Parashar

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Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at RadhikaP@ndtv.com. More