BTC, ETH See Marginal Profits, Most Cryptocurrencies Follow Suit to Show Gains

With a hike of 2.12 percent, BTC is currently trading at $17,207 (roughly Rs. 14.15 lakh).

Written by Radhika Parashar, Edited by Siddharth Suvarna | Updated: 9 December 2022 10:41 IST

BTC, ETH See Marginal Profits, Most Cryptocurrencies Follow Suit to Show Gains

Photo Credit: Pixabay/ Dean Crosby

Current crypto market valuation stands at $859.37 billion

Highlights

Dogecoin, Shiba Inu saw profits
Tether saw losses
Bitcoin Hedge also saw price dips

The overall crypto price charts brimmed with greens on Friday, December 9, indicating at market recovery. With a hike of 2.12 percent, BTC is currently trading at $17,207 (roughly Rs. 14.15 lakh). This is the first time in weeks that BTC has managed to breach the trading price point of $17,000 (roughly Rs. 14 lakh). The first every cryptocurrency also rose in prices by up to 2.25 percent on international exchanges such as Coinbase and Binance.

“Despite Bitcoin trading at a 65 percent discount from year to date, the leading crypto remains in the top 30 global tradable assets ahead of tech giants like Meta, Samsung and Coca-Cola,” the CoinDCX research team told Gadgets 360.

Ether grew in value by 3.73 percent to trade at $1,281 (roughly Rs. 1.05 lakh), the crypto price tracker by Gadgets 360 showed on Friday. It is, however, noteworthy that ETH has not been able to fall far away from the price point of $1,200 (roughly Rs. 98,705) in weeks now.

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Other altcoins that saw gains include Binance Coin, Binance USD, Ripple, Cardano, and Polygon.

The profitable market movement also dropped small gains in the kitties of meme coins Dogecoin and Shiba Inu.

The overall crypto market rose by 2.27 percent in the last 24 hours. Its current valuation stands at $859.37 billion (roughly Rs. 70,68,738 crore).

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Meanwhile, Tether, USD Coin, Dash, Braintrust, Dogefi, and Bitcoin Hedge emerged among loss-making cryptocurrencies.

“In the altcoin universe, prices of gaming tokens have been on a tear after being in turmoil in the past few weeks. Particularly worth highlighting was Axie Infinity's game token, AXS, which jumped over 20 percent in price last week, as it revealed plans to advance ‘progressive decentralisation strategy' with the Axie community, including establishing an ‘Urban Planning',” Parth Chaturvedi, Crypto Ecosystem Lead, CoinSwitch told Gadgets 360.

Closer home, CRE8, an Indian Rupee denominated Virtual Digital Asset (crypto) index was down 0.44 percent in the past seen days. The Index value stood at Rs. 2416.49 at 8 AM, December 09, 2022. BTC and ETH continue to be the top assets by market capitalisation, Chaturvedi highlighted.

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Cryptocurrency Prices across Indian exchanges

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Further reading: Cryptocurrency, Bitcoin, Ether, Binance Coin, Binance USD, Ripple, Cardano, Polygon, Dogecoin, Shiba Inu, Tether, USD Coin, Dash, Braintrust, Dogefi, Bitcoin Hedge

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