Bitcoin Hovers Over $29,000, Most Altcoins Trade Lowly Amid Ongoing Market Swing

Bitcoin on Thursday minted a small profit of 1.02 percent to trade at $28,958 (roughly Rs. 23.6 lakh).

Written by Radhika Parashar, Edited by Siddharth Suvarna | Updated: 27 April 2023 11:02 IST

Bitcoin Hovers Over $29,000, Most Altcoins Trade Lowly Amid Ongoing Market Swing

Photo Credit: Unsplash/ Jonathan Borba

The valuation of the crypto sector touched $1.20 trillion on Thursday

Highlights

Cosmos, Uniswap recorded gains
Dia, Cartesi saw profits
Solana, Ripple recorded losses

The crypto market has been trading slow in the last few days. Bitcoin on Thursday saw a small profit of 1.02 percent to trade at $28,958 (roughly Rs. 23.6 lakh). The most expensive cryptocurrency managed to inch closer to the mark of $30,000 (roughly Rs. 24.5 lakh) after almost three days of varied price fluctuations. Its current price is similar on both, national as well as international exchanges. In the last 24 hours, the oldest cryptocurrency rose by $608 (roughly Rs. 50,000) price-wise.

Ether's value spiked by 1.75 percent on Thursday. After a minor setback in terms of its value this week, Ether has managed to bounce back to recovery. Its current trading value stands at $1,903 (roughly Rs. 15.5 lakh) as per Gadgets 360's crypto price tracker.

“Bitcoin rallied Wednesday as the narrative of 'not your keys, not your money' is reignited by First Republic Bank's crash, highlighting the beauty of Bitcoin's decentralised P2P cash system. BTC's surge ended its five-day losing streak and continued its upward trend in April and 2021, hitting 10-month highs near $31,000 (roughly Rs. 25.3 lakh). Ethereum also climbed seven percent overall in the past day,” Rajagopal Menon, Vice President, WazirX told Gadgets 360.

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Cardano, Polygon, Cosmos, Uniswap, Cronos, and Elrond recorded gains alongside BTC and ETH on Thursday.

Cartesi, Dia, and Status also managed to retain greens on the crypto charts with minor profits.

The global crypto market valuation climbed up the price ladder by 1.33 percent on Thursday. As per CoinMarketCap, the valuation of the crypto sector stood at $1.20 trillion (roughly Rs. 97,99,660 crore) at the time of writing.

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Meanwhile, a bunch of mainstream altcoins settled with losses which include Tether, Binance Coin, USDC Coin, Ripple, and Dogecoin.

Solana, Polkadot, Litecoin, Binance USD, and Tron also recorded losses on Wednesday.

Xiaomi launched its camera focussed flagship Xiaomi 13 Ultra smartphone, while Apple opened it's first stores in India this week. We discuss these developments, as well as other reports on smartphone-related rumours and more 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, 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, Zilliqua

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