Bitcoin, Ether Record Losses as Overall Crypto Market Valuation Slips by 1.12 Percent

At the time of writing, BTC was trading at $17,716 (roughly Rs. 14.6 lakh)

Bitcoin, Ether Record Losses as Overall Crypto Market Valuation Slips by 1.12 Percent

Photo Credit: Reuters

The current crypto market cap stands at $861.07 billion

Highlights
  • Dogecoin, Shiba Inu saw losses
  • Polkadot, Liteocin saw dips
  • Zcash saw gains
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One day after majority cryptocurrencies recorded profits and the crypto market valuation rose by over three percent, the price charts for cryptocurrencies was hit by volatility once again. Bitcoin on Thursday, opened with a loss of nearly one percent. At the time of writing, BTC was trading at $17,716 (roughly Rs. 14.6 lakh). The world's most popular cryptocurrency also saw tiny price dips on international exchanges. As per Binance and CoinMarketCap, BTC is trading at the price point of $17,734 (roughly Rs. 14.4 lakh).

Ether recorded slightly bigger losses than Bitcoin. With a drop of 2.35 percent, ETH is now trading at $1,291 (roughly Rs. 1.06 lakh), showed the crypto price tracker by Gadgets 360.

Along with altcoins, stablecoins pegged against the US dollar also settled with losses.

Tether, USD Coin, Binance Coin, Ripple, Cardano, Polygon, Polkadot, and Litecoin — all witnessed price dips.

Dogecoin and Shiba Inu also broke out of their gain-spell to see their value fall on Thursday.

The overall crypto market valuation slipped by 1.12 percent in the last 24 hours. The current crypto market cap stands at $861.07 billion, as per CoinMarketCap.

These include Solana, Tron, Zcash, and Flex.

After the collapse of crypto exchange FTX exchange, a large part of the global investor community has pulled back from the crypto sector.

A recent report, the Organisation for Economic Cooperation and Development (OECD) explains why the crypto market cap has not managed to show any recovery. The OECD has said that institutional investors were quicker to leave the crypto market amid the slump, as compared to retail investors.

Last year around the holiday season in December, the crypto market recorded profits as more people indulged in gifting crypto presents, especially in the US. This year, the holiday spirit has not yet managed to achieve the same effect on the crypto sector.


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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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Cryptocurrency Prices across Indian exchanges

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Radhika Parashar
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
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