Bitcoin Price Continues Steady Rise as Ethereum, Dogecoin and Shiba Inu Record Losses: All Details

Bitcoin opened trading on Tuesday with a minor profit of 0.80 percent at $21,125 (roughly Rs 17.2 lakh).

Written by Radhika Parashar, Edited by David Delima | Updated: 17 January 2023 11:07 IST

Bitcoin Price Continues Steady Rise as Ethereum, Dogecoin and Shiba Inu Record Losses: All Details

Photo Credit: Unsplash/ Art Rachen

The current valuation of the crypto sector stands at $990 billion

Highlights

Bitcoin and Ether have broken free from their resistance points
Solana recorded losses on Tuesday
Litecoin values also dipped

Bitcoin opened trading on Tuesday at the price point of $21,125 (roughly Rs 17.2 lakh) with a minor profit of 0.80 percent. The oldest and most widely used cryptocurrency has maintained its trajectory on international exchanges such as Binance and CoinMarketCap as well. In the last 24 hours, Bitcoin prices have risen by $50 (roughly Rs.4.089). The overall crypto price charts saw gains and losses for multiple digital assets, as volatility continued to reign over the sector.

Unlike Bitcoin, Ether saw a marginal 0.08 percent drop in value to trade at $1,562 (roughly Rs. 1.27 lakh), according to the crypto price tracker by Gadgets 360.

Tether, USD Coin, Polyon, and Avalanche emerged on the profit-making end of the crypto price charts along with BTC.

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Leo, Cronos, Aave, Dash, and NEM also reeled in profits on Tuesday.

Despite so many altcoins having registered small gains, the overall crypto market valuation dropped down by 0.25 percent over the last 24 hours. As per CoinMarketCap, the current valuation of the crypto sector stands at $990 billion (roughly Rs. 80,94,548 crore).

Dogecoin and Shiba Inu on the other hand, recorded losses on Tuesday.

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Binance Coin, Ripple, Cardano, Solana, and Litecoin also saw dips in value.

Tron, Uniswap, Cosmos, Chainlink, and Monero saw their prices fall on Tuesday.

“A renewed healthy hash-rate and improving mining metrics suggests that the worst of the miner capitulation saga is behind us. On-chain analysis also confirms that wallets holding 100 to 10,000 ETH, have been accumulating the past two months adding 3,000 new addresses, nearly amounting to 50,000 wallets, the highest level since a year. These strong accumulation trends coupled with promising macroeconomic data concerning a lessening inflation have led to strong rallies in the equities and crypto market alike with the risk-on sentiment reignited,” the CoinDCX research team told Gadgets 360.

Will crypto tax hurt the industry in India? We discuss this on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

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Cryptocurrency Prices across Indian exchanges

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Further reading: Cryptocurrency, Bitcoin, Ether, Binance Coin, Cardano, Polygon, Litecoin, Solana, Polkadot, Tron, Avalanche, Cosmos, Wrapped Bitcoin, Dogecoin, Shiba Inu, Tether, USD Coin, Binance USD, Cronos, Zcash, Monero

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