Bitcoin, Ether Mark Dips Through Monday While Altcoins Have a Mixed Start to the Week

Exchange flows suggest that there could be a fresh rally brewing for the latter part of the week.

Bitcoin, Ether Mark Dips Through Monday While Altcoins Have a Mixed Start to the Week

Photo Credit: Unsplash/ Kanchanara

Bitcoin is gradually rising above $46,500 (roughly Rs. 35 lakh) against the US dollar

  • BTC presented a weak start to the week
  • Ether continues to show a strong upside in price
  • Dogecoin, Shiba Inu both managed gains to begin the week

Bitcoin and Ether suffered dips through Monday although on-chain exchange inflow and outflow data from Glassnode suggests that a fresh surge could be brewing for the latter half of week. In terms of value, the world's most popular cryptocurrency appears to have dropped on Monday and yet managed to mark gains by early Tuesday. At the time of writing, the value of Bitcoin is up by 1.38 percent, after recording a 3.05 percent dip through Thursday. At the time of writing, BTC's value stands at $48,722 (roughly Rs. 36.5 lakh) on Indian exchange CoinSwitch Kuber.

On global exchanges, the price of Bitcoin stands closer to the $47,000 (roughly Rs. 35.5 lakh) mark at $46,730 (roughly Rs. 35 lakh) gaining 0.89 percent in value over the past 24 hours. Despite the rough start to the week, as per CoinGecko data, Bitcoin hasn't slipped up by much week-to-day, standing at a dip of 0.4 percent.

Ether, the world's second-largest cryptocurrency has had a similar dip on Monday with a slight change in fortune come early Tuesday. At the time of publishing, Ether is valued at $3,674 (roughly Rs. 2.5 lakh) on CoinSwitch Kuber while values on global exchanges see the crypto's value at $3,528 (roughly Rs. 2.5 lakh), where the coin has seen a dip of 3.78 percent over the past 24 hours.

CoinGecko data reveals that the cryptocurrency's value has moved up by more than 6 percent over the past week and more than 32 percent in value since the beginning of March.

Gadgets 360's cryptocurrency price tracker reveals a rather mixed picture with gains and minor losses both showing up for good measure. The global crypto market cap witnessed a rise of 0.83 percent over the past 24 hours. Binance Coin, Solana, Polygon, Chainlink, and Zilliqa all marked losses, while Cardano, Terra, and Polkadot marked losses.

Meme coins Shiba Inu and Dogecoin have also had a fairly positive showing over the past 24 hours. Dogecoin is currently valued at $0.16 (roughly Rs. 12) after gaining 4.62 percent over the last 24 hours, while, Shiba Inu is valued at $0.000028 (roughly Rs. 0.002), up by 0.03 percent over the past day.

Fresh data reveals that amid the positive month that March has been for Ether's recovery within the crypto market, Ethereum miners managed to rake in a total of $1.29 billion (roughly Rs. 9,740 crore) in revenue over the past month. While that's still a long way down from the all-time high registered in November last year, it does bode well for miners who've suffered a rough few months over the winter period.

Meanwhile, US-listed companies that act as custodians of cryptocurrencies on behalf of their users should account for those assets as liabilities and warn investors about the associated risk, the US Securities and Exchange Commission (SEC) has said in a newly published staff accounting bulletin. The new guidance which is aimed at particularly highlighting potential risks of crypto-related investments to customers will apply to traditional firms such as banks or retail brokers that custody cryptocurrencies for their clients or provide other related services, as well as to crypto exchanges.

Can OnePlus 10 Pro beat iPhone 13 Pro and Galaxy S22 Ultra? 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.

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.

Affiliate links may be automatically generated - see our ethics statement for details.

Cryptocurrency Prices across Indian exchanges


For the latest tech news and reviews, follow Gadgets 360 on Twitter, Facebook, and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel.

Elon Musk’s Digs at Twitter, Web 3, and NFTs: A Lookback
Samsung Electronics Likely to Ride Chip Demand to Post Highest Q1 Profit Since 2018
Share on Facebook Tweet Snapchat Share Reddit Comment google-newsGoogle News


Follow Us


© Copyright Red Pixels Ventures Limited 2023. All rights reserved.