Crypto Price Today: Bitcoin Holds Ground Above $34,000, Stablecoins Tumble Alongside Tron, Leo

At the time of writing, the value of Bitcoin stood at $34,295 (roughly Rs. 28.5 lakh).

Written by Radhika Parashar, Edited by Siddharth Suvarna | Updated: 30 October 2023 12:03 IST

Crypto Price Today: Bitcoin Holds Ground Above $34,000, Stablecoins Tumble Alongside Tron, Leo

Photo Credit: Pixabay/ Dean Crosby

The crypto market valuation currently stands on the mark of $1.27 trillion

Highlights

Binance Coin, Ripple recorded profits
Chainlink, Polygon showed gains
Binance USD, Bitcoin SV saw losses

Bitcoin's trading price on Monday, October 30 held ground over the mark of $34,000 (roughly Rs. 28 lakh), maintaining a strong position. At the time of writing, the value of Bitcoin stood at $34,295 (roughly Rs. 28.5 lakh). Talking to Gadgets 360, the CoinDCX research team said that this week carries significant weight for the crypto market due to various macro events lined up in the US that includes the FOMC meeting, the monthly unemployment rate announcement, refreshed list of job openings, and the US non-farm Employment Change – all of which can introduce volatility to the crypto market.

Ethereum minted a small profit of 0.08 percent on Monday. This brings the value of ETH to stand at $1,780 (roughly Rs. 1.48 lakh).

“There's a noticeable divide in opinions regarding the future of Bitcoin, with some anticipating a potential breakthrough past the $35,000 (roughly Rs. 29 lakh) resistance level, while others foresee a looming price correction. The situation is equally intriguing in the world of Ethereum. The prospect of Ethereum surpassing the $1,800 (roughly Rs. 1.4 lakh) level has sparked hopes of a significant rally, igniting optimism among investors. Over the weekend, signs of recovery began to emerge in the market as prices of tokens went up after a brief one-day correction,” Rajagopal Menon, Vice President, WazirX told Gadgets360.

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Ahead of the US releasing details on interest rates and unemployment rate – most cryptocurrencies are trading in profits today.

These include Binance Coin, Ripple, Solana, Cardano, Dogecoin, Chainlink, and Polygon.

Other cryptocurrencies to have recorded profits include Polkadot, Litecoin, Avalanche, Stellar, Cosmos, Uniswap, and Cronos.

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The crypto market valuation, that spiked by 0.03 percent in the last 24 hours, now stands on the mark of $1.27 trillion (roughly Rs. 1,05,73,111 crore), as per CoinMarketCap.

“With a gains-led momentum within the crypto market, investors are registering record trading activities. The total value of money invested in active bitcoin and ether options contracts on the prominent BTC and ETH options and futures exchange—Deribit—has surged to $20.64 billion (roughly Rs. 830 crore). This tally nearly parallels the peak registered in 2021 when BTC was at $66,000 (roughly Rs. 54.9 lakh),” Parth Chaturvedi, Investments Lead, CoinSwitch Ventures told Gadgets360.

Small losses struck a handful of altcoins today, which include Tether, USD Coin, Tron, Leo, and Bitcoin SV.

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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