Bitcoin opened on Thursday with a tiny profit of 0.21 percent. This is a sign that the crypto market, which has been low in value for nearly a month, is starting to recover. Bitcoin’s current price is $16,853 (roughly Rs. 13.9 lakh). BTC has been unable to surpass the $17,000 mark (roughly Rs. It briefly rose to 14 lakh, but it did not surpass that figure before Wednesday’s US Consumer Confidence Report. Bitcoin prices rose 0.21 percent on international exchanges like Binance and CoinMarketCap to trade at the exact same price point.
It is notable that, despite Bitcoin’s poor performance, its retail adoption continues to rise. According to CoinDCX’s research team, 17 percent of the total circulating supply was held by addresses with less than 10 Bitcoins in a wallet. This is an all-time high for bitcoin adoption.
Ether was followed Bitcoin for small gains on Thursday. ETH currently trades at $1,213 (roughly Rs. 1 lakh after a profit of 0.55 per cent as per Gadgets 360’s cryptocurrency price tracker.
There were minor price increases for stablecoins like Tether and USD Coin.
Solana, Uniswap and LEO opened trading with significant but small profits.
In the last 24 hours, the overall crypto market experienced a 0.26 percent increase. According to CoinMarketCap the sector value stands at $810 million (roughly Rs. 67,08,914 crore).
On Thursday, losses were reported on multiple cryptocurrencies. These include Cardano Coin, Cardano and Polygon as well as Polkadot and Litecoin.
“Despite slow momentum, we are seeing increased adoption by the larger players in the crypto ecosystem.” Visa Auto-Pay Scheme from Self-Custody Wallets allowing users set up recurring bills payments; decentralised exchanged Uniswap partnered Moonpay, a fintech firm to allow users to buy cryptos via bank transfers, debit cards, credit cards, and credit cards; Mercedes-Benz has filed five metaverse and NFT-related trademark application,” the CoinDCX team said.
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