Bitcoin, ETH Opened Today with Some Gains, Altcoins See Small Losses

The value of Bitcoin, with gains smaller than one percent, stood at $22,864 (roughly Rs. 18.9 lakh).

Written by Radhika Parashar, Edited by Siddharth Suvarna | Updated: 7 February 2023 11:23 IST

Bitcoin, ETH Opened Today with Some Gains, Altcoins See Small Losses

Photo Credit: Piabay/ Dean Crosby

The global crypto market valuation today stands at $1.06 trillion

Highlights

DOGE, SHIB saw losses
Most stablecoins reeled-in gains
Tron, Monero saw profits

A big number of cryptocurrencies that recorded value dips one day ago, reeled-in gains stepping into Tuesday, February 7. The value of Bitcoin, at the time of writing, stood at $22,864 (roughly Rs. 18.9 lakh). The world's first ever cryptocurrency managed to mint profits lesser than one percent on both, national as well as international exchanges like Binance and Coinbase among others. In terms of its value, BTC managed to rise merely by $4 (roughly Rs. 330) in the last 24 hours, making for its smallest daily fluctuation since the beginning of this year so far.

Ether twiddled behind Bitcoin to record miniscule gains. With a hike of 0.63 percent, ETH is trading at the price point of $1,632 (roughly Rs. 1.35 lakh), as per Gadgets 360's crypto price tracker.

“Bitcoin has been trading within a narrow range, having witnessed a decrease of 2.77 percent over the past week. Its support level is currently at $22,800 (roughly Rs. 18.86 lakh), with resistance at $23,150 (roughly Rs. 19.1 lakh). Ethereum has also fallen two percent in the last day but remains above $1,600 (roughly Rs. 1.32 lakh). The low volume suggests a lack of bullish activity in the market,” Edul Patel, the CEO of Mudrex crypto investment firm told Gadgets 360.

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Tether, Binance Coin, USD Coin, Binance USD, and Polygon — all recovered from yesterday's tumble with minor profits.

Litecoin, Avalanche, Tron, Wrapped Bitcoin, and Monero recorded small profits as well.

The overall crypto market cap rose by 0.09 percent in the last 24 hours. The crypto market cap, at the time of writing is, $1.06 trillion (roughly Rs. 88,04,827 crore), as per CoinMarketCap.

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The small overall gain in the crypto market cap comes in the backdrop of several cryptocurrencies still reeking of losses.

Ripple, Cardano, Solana, and Polygon recorded losses on Tuesday.

Both meme coins Shiba Inu and Dogecoin also settled with losses.

Samsung's Galaxy S23 series of smartphones was launched earlier this week and the South Korean firm's high-end handsets have seen a few upgrades across all three models. What about the increase in pricing? We discuss this 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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Further reading: Cryptocurrency, Bitcoin, Ether, Tether, Binance Coin, USD Coin, Binance USD, Polygon, Litecoin, Avalanche, Tron, Wrapped Bitcoin, Monero, Ripple, Cardano, Solana, Shiba Inu, Dogecoin

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