BTC, ETH Open with Price Dips, Polkadot and Monero Emerge Among Gainers

With a minor loss of 0.22 percent, Bitcoin opened trading at $16,848 (roughly Rs. 13.8 lakh).

Written by Radhika Parashar, Edited by Siddharth Suvarna | Updated: 6 January 2023 11:03 IST

BTC, ETH Open with Price Dips, Polkadot and Monero Emerge Among Gainers

Photo Credit: Pixabay/ Petre Barlea

The global crypto market valuation stands at $816 billion

Highlights

Dogecoin, Shiba Inu saw losses
Baby Doge Coin, Augur saw profits
Stablecoins saw losses

The crypto price chart showed losses next to most cryptocurrencies on Friday, January 6. With a minor loss of 0.22 percent, Bitcoin opened trading at $16,848 (roughly Rs. 13.8 lakh). The asset traced a similar pricing trajectory on Binance and Coinbase among other international exchanges. In the last 24 hours, Bitcoin recorded a minor price hike of $32 (roughly Rs. 2,640). Out of BTC's pre-decided supply limit of 21 million tokens, 92 percent, making up for over 19 million tokens are already in circulation.

Ether registered a loss of 0.41 percent. As per the crypto price tracker of Gadgets 360, ETH opened trading at the price point of $1,250 (roughly Rs. 1.03 lakh).

Among other loss-making altcoins, Polygon, Litecoin, Solana, Tron, Uniswap, and Avalanche, marked their names.

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Stablecoins pegged against the US dollar like Tether, USD Coin, and Binance USD failed to grab any profits.

After days of continuously seeing small gains, memecoins Shiba Inu and Dogecoin are showing losses on the price chart.

With most cryptocurrencies settling with value dips, the global crypto market cap fell by 0.50 percent in the last 24 hours.

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At the time of writing, the global crypto market valuation stands at $816 billion (roughly Rs. 67,40,022 crore), showed the data by CoinMarketCap.

Among the small number of altcoins that saw profits, Cardano, Polkadot, Leo, Monero, and Iota registered their names.

Baby Doge Coin, Augur, Kishu Inu, and Doge Killer registered small profits.

“The crypto market started off the week slowly due to the holiday season but picked up momentum later in the week. Bitcoin has been trading in a narrow range in recent days, indicating a lack of strong movement from either bulls or bears. The sentiment for ETH remains somewhat bullish. Market volatility remained high following the release of the Federal Open Market Committee's minutes,” Edul Patel, the CEO and co-founder of Mudrex told Gadgets 360.

Amid growing use cases of cryptocurrencies and the blockchain technology, players in the sector are turning to space tech to finetune the industries.

Earlier this week, a Falcon 9 rocket from Elon Musk's SpaceX released Crypto1 satellite from the Cryptosat team into the Earth's orbit on January 3. Like its predecessor, this satellite is aimed at powering cryptographic, blockchain, and ledger applications. The physical accessibility of satellites makes them a secure point-of-information storage, that guarantees the confidentiality of sensitive data and computations.

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, Polygon, Litecoin, Solana, Tron, Uniswap, Avalanche, Tether, USD Coin, Binance USD, Shiba Inu, Dogecoin, Cardano, Polkadot, Leo, Monero, Iota, Baby Doge Coin, Augur, Kishu Inu, Doge Killer

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