At the time of writing, BTC was trading at $64,380 (roughly Rs. 53.7 lakh) on international exchanges.
The valuation of the crypto sector reached $2.26 trillion
Photo Credit: Pexels/ Rodnae Productions
The overall crypto chart showed more gains than losses on Wednesday, September 25. Bitcoin reflected a gain of 1.20 percent on Indian exchanges and a profit of 6.14 percent on international exchanges over the last 24 hours. At the time of writing, BTC was trading at $64,380 (roughly Rs. 53.7 lakh) on international exchanges, as per CoinMarketCap. On Indian exchanges meanwhile, the asset was priced at $66,630 (roughly Rs. 55.6 lakh).
Ether reflected minor losses of less than one percent on both national as well as international exchanges on Tuesday. As shown by Gadgets360's crypto price tracker, ETH is trading at $2,731 (roughly Rs. 2.28 lakh) on Indian platforms like CoinDCX. Internationally, ETH is valued at $2,631 (roughly Rs. 2.19 lakh).
“The crypto market continues to rally. BTC remains bullish, but with over $10 billion (roughly Rs. 83,526 crore) in high-leveraged short positions at the $72,000 (roughly Rs. 60 lakh) liquidation level, we could see volatility and a possible rejection or pullback around that area. ETH and related tokens are performing well as ETH/BTC found strong trendline support, signaling further outperformance. Notably, the upcoming US GDP quarterly data release tomorrow is a key event to watch for the week,” the CoinDCX market desk told Gadgets360.
Binance Coin, Ripple, Dogecoin, Cardano, Tron, and Avalanche registered gains on Wednesday alongside Bitcoin.
Shiba Inu, Polkadot, Leo, Litecoin, Cronos, Cosmos, Polygon, Bitcoin SV, and Neo Coin also found their way onto the profit-making side of the crypto chart on Tuesday.
The overall crypto market cap went up by 1.89 percent in the last 24 hours. With this, the valuation of the crypto sector has reached $2.26 trillion (roughly Rs. 1,88,76,616 crore), showed CoinMarketCap.
“The global shift towards monetary easing, especially with China joining other major economies in loosening policies to counter economic slowdown, is largely responsible for this upward momentum,” Shivam Thakral, CEO of BuyUcoin told Gadgets360.
Solana and USD Coin joined ETH on the loss-making side of the crypto chart. Stellar, Zcash, Iota, Qtum, and Status also saw price dips.
“With central banks in the US, EU, and China cutting interest rates, the crypto market is seeing significant inflows, both directly and through ETFs, driven by improved economic sentiment,” Edul Patel, CEO Of Mudrex told Gadgets360.
Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.
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