Bitcoin grew in value by $271(roughly Rs. 22,527) in the last 24 hours.
The crypto market valuation presently stands at $1.55 trillion
Photo Credit: Pexels/ Rodnae Productions
Bitcoin on Thursday, January 25 recorded a miniscule gain of 0.50 percent. Despite this development, Bitcoin did not see a big change in its price. At the time of writing, the value of BTC stood at $39,921 (roughly Rs. 33 lakh). The asset did grow in value by $271 (roughly Rs. 22,527) in the last 24 hours. While this might indicate that bulls are not willing to step in at this price point, it might also be the case that taking the Bitcoin's price further down will not be easy for the bears as well, the CoinSwitch markets desk told Gadgets360.
Solana, Ripple, Cardano, Avalanche, Tron, and Polkadot -- all recorded small gains alongside Bitcoin on Thursday.
They were also joined by Shiba Inu, Litecoin, Bitcoin Cash, Leo, Cosmos, Uniswap, Stellar, Monero, Near Protocol, and Cronos.
“Notably, Solana's SOL and Avalanche's AVAX surpassed expectations, registering gains of about 8.5 percent and 11.5 percent, respectively, spearheading the broader market's upward trajectory,” Rajagopal Menon, Vice President, WazirX told Gadgets360.
Ether failed to join Bitcoin on the profit-making side of the crypto price chart. The SEC managed to delay the approval of BlackRock's spot Ethereum ETF, for now, which has emerged as a contributing factor to the somewhat bearish sentiment hovering over ETH at the moment.
Tether, Binance Coin, USD Coin, Chainlink, and Bitcoin SV joined Ether on the loss-making side of the crypto price chart.
The overall valuation of the crypto market cap rose by 0.38 percent in the last 24 hours. Its valuation presently stands at $1.55 trillion (roughly Rs. 1,28,85,537 crore) as per CoinMarketCap.
“The overall crypto market cap jumped to the $1.55 trillion mark with BTC showing a marginal increase in its value from the previous day. Altcoins are showing a strong positive trajectory but it's not enough to lift the market sentiment. The US Fed should start cutting the interest rates soon to boost market liquidity and spark economic activity across sectors,” Shivam Thakral, CEO of BuyUcoin told Gadgets360.
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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