Cryptocurrency prices continued to fluctuate on Tuesday.
The crypto sector valuation presently stands at $3.51 trillion
Photo Credit: Pixabay/ WorldSpectrum
Donald Trump was sworn in as the 47th President of the United States on January 20, hours after the price of Bitcoin surged to create a new all-time high of over $109,000 (roughly Rs. 94.2 lakh) on Monday. However, the price of the cryptocurrency dropped by more than three percent to trade at $101,755 (roughly Rs. 88 lakh) on global exchanges, after the US President didn't mention digital assets during his inaugural speech. In India, BTC was priced at $102,832 (roughly Rs. 88.9 lakh) at the time of publishing this story. The market shows signs of volatility, which could prevail if President Trump decides to announce any crypto-related executive orders in the next few days.
“The start of Donald Trump's second term in 2025 was marked by the volatility of the crypto market. Bitcoin surged to an all-time high which reflected market optimism regarding pro-crypto policies. However, the price quickly dropped to $101,000 (roughly Rs. 87.3 lakh) because of the lack of discussions about cryptocurrency on the first day dampened market expectations,” Avinash Shekhar, Co-Founder and CEO, Pi42 told Gadgets 360. “This underlines the importance of being cautious and doing due diligence on digital assets, while also balancing optimism with risk."
Like Bitcoin, Ether's price dropped by 1.61 percent over the last 24 hours on international exchanges. ETH was trading at $3,238 (roughly Rs. 2.80 lakh) on Tuesday, as per CoinMarketCap data. On Indian exchanges, meanwhile, Ether's price dipped by two percent to trade at $3,222 (roughly Rs. 2.78 lakh).
The crypto price chart by Gadgets 360 showed most cryptocurrencies were down, including Ripple, Tether, Solana, Dogecoin, USD Coin, Cardano, and Tron.
Avalanche, Chainlink, Stellar, Shiba Inu, Polkadot, and Uniswap were also down on Tuesday.
However, Tron, Monero, Iota, and Augur rose in value, despite the ongoing market volatility.
The overall crypto market cap fell by 1.16 percent in the last 24 hours. Data from CoinMarketCap shows that the crypto sector valuation presently stands at $3.51 trillion (roughly Rs. 3,03,53,602 crore).
“Trump's official token, 'Official Trump', also plunged by over 34 percent while the Official Melania Meme price dropped by 60 percent. Meanwhile, primitive altcoins like Raydium (RAY), Lido DAO (LDO) and Aave surged by a double-digit margin. Besides, Solana remained the most bought token, probably due to the ‘Celebrity Coin' fever which seems to have ended,” the CoinDCX Research Team told Gadgets 360. “The market trends are believed to be the aftermath of Donald Trump's inauguration, as he did not mention Bitcoin or crypto in his speech, leaving the market uncertain about the crypto policies.”
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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