Bitcoin was trading at $93,197 (roughly Rs. 79.6 lakh) at the time of writing.
The crypto market cap, at the time of writing, stood at $3.29 trillion
Photo Credit: Unsplash/ Ash_Ismail
The crypto price charts reflected more losses than profits next to most cryptocurrencies on Monday, December 30. Bitcoin incurred a price dip of under a percent on international exchanges, trading at the price point of $93,197 (roughly Rs. 79.6 lakh), showed CoinMarketCap. On Indian exchanges, meanwhile, the oldest and most expensive cryptocurrency logged price dips of over one percent. According to exchanges like Giottus and CoinDCX among others, the value of Bitcoin is hovering around the mark of $101,719 (roughly Rs. 86.9 lakh).
“Despite the pullback over the weekend, BTC remained above its 200-day moving average showing strong buying interest at the lower levels. Additionally, the Relative Strength Index (RSI) is currently at 42 — indicating that BTC is neither overbought nor oversold. BTC's next resistance stands at $96,600 while the support remains at the previous low of $92,800 (roughly Rs. 79.3 lakh),” Mudrex CEO Edul Patel told Gadgets360.
Ether managed to hold onto minor profits on the price chart on Monday. As per CoinMarketCap, ETH is trading at $3,396 (roughly Rs. 2.90 lakh), having registered a minor gain of 0.42 percent over the last day. The asset followed a similar trajectory on national exchanges as well. As shown by CoinSwitch and CoinDCX for instance, the price of ETH has come to $3,674 (Roughly Rs. 3.14 lakh) with a profit of 1.15 percent.
“Ethereum has shown resilience in the market. This uptick reflects strong fundamentals as investors remain optimistic about the asset's potential. Investors are optimistic about Ethereum's growth trajectory, which is driven by ongoing developments in decentralised finance and non-fungible tokens. The overall market sentiment appears positive, with expectations of continued investment inflows and technological advancements supporting Ethereum's position as a leading cryptocurrency,” Shivam Thakral, CEO of BuyUcoin told Gadgets360.
The crypto price tracker by Gadgets 360 showed Ripple, Solana, and Cardano emerged on the loss-making side of the crypto chart.
Tron, Avalanche, Chainlink, and Shiba Inu also registered price dips alongside Bitcoin on Monday.
Given that majority crypto assets recorded losses, the overall valuation of the market dipped by 1.31 percent in the last 24 hours. The crypto market cap, at the time of writing, stood at $3.29 trillion (roughly Rs. 2,81,33,743 crore), showed data by CoinMarketCap.
“Memecoins have been facing challenges all December. Their total market cap fell from a peak of $137.06 billion (roughly Rs. 11,71,806 crore) to $92.67 billion (roughly Rs. 7,92,290 crore) as the month came to an end-a reduction of 32.38 percent. The steep plunge implies waning demand and tamping out the momentum in the meme token industry,” Avinash Shekhar, Co-Founder and CEO, Pi42 told Gadgets360.
Tether, Iota, Status, Braintrust, and Dogefi managed to retain profits despite the overall market slowdown.
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