Bitcoin opened trading with a small gain of 2.58 percent on Tuesday, while most cryptocurrencies posted gains, indicating a healthy recovery for this highly speculative digital asset. The trade value of the world’s most popular cryptocurrency stands at $23,071 (approximately Rs. 18.8 lakh). In the past 24 hours, BTC grew by $355 (approximately Rs. 28,990) in terms of value – on both national and international exchanges. With the highest crypto rally in profit, most cryptocurrencies have risen from their respective slumps as the recovery from last year’s crypto meltdown continues.
Ether jumped 1.20 percent in value on Tuesday. The second most valued cryptocurrency is trading at $1,638 (approximately Rs. 1.33 lakh), according to Gadgets 360 crypto price tracker.
Stablecoins such as Tether, USD Coin, Ripple and Binance USD moved up the crypto ladder, alongside Cardano, Solana, Polygon and Polkadot also posted gains on Tuesday.
Both memecoins – Dogecoin and Shiba Inu are also continuing their profit pursuit. A Nansen report has recently claimed that Shiba Inu, priced at $0.000012 (approximately Rs. 0.000991), is the best investment choice for novice investors. Meanwhile, Dogecoin is currently priced at $0.090 (approximately Rs. 7.32).
Litecoin, Avalanche, Tron, Uniswap and Wrapped Bitcoin and other altcoins saw their value increase.
In the past 24 hours, the total crypto market cap has increased by 1.33 percent to the valuation of $1.06 trillion (approximately Rs. 86,42,933 crore) according to CoinMarketCap.
“In token-specific action, SOL continues to post strong gains (over 20 percent), following the major price drop following the FTX outage. The latest pump can be credited to Electric Capital’s developer report highlighting the building power of the Solana ecosystem. Crucially, BTC and ETH are trading around the crucial support levels, despite Genesis going bankrupt and tech majors like Google and Microsoft announcing massive layoffs. The strongest gains last week were seen in reverse-themed tokens MANA (up 60 percent) and SAND (up 33 percent), following news that Apple will release a VR/AR headset this spring,” Parth Chaturvedi, Crypto Ecosystem Lead, CoinSwitch told Gadgets 360.
Some altcoins saw losses on Tuesday, including Cosmos, Near Protocol, EOS Coin, Zcash and Kishu Inu.
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