Bitcoin Rise Continues As Ether Price Movement Attracts Attention, Memecoins Rise After Elon Musk Tweet

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Bitcoin hit the headlines in the crypto world last week, marking a new all-time high, but ended the week on the slump. But investor excitement doesn’t seem to have subsided yet. The world’s most popular cryptocurrency opened trading Monday at Rs. 47.36.579 (about $ 63.236), up 1.41 percent in the past 24 hours. At the time of writing, the largest crypto asset by market cap is up to Rs. 48.50,015 (around $ 64,750) on India’s CoinSwitch Kuber, up 1.38 percent from the day’s opening valuation.

Bitcoin’s rally due to the debut of several Bitcoin futures ETFs in the US is now causing investors to shift focus. With the possibility of Ethereum-based ETFs on the horizon, Gadgets 360’s cryptocurrency price tracker shows that Ether could soon see a strong rally. Ether is currently trading at Rs. 3.23.628 (about $ 4,320) and is up 1 percent from the opening of the week of Rs. 3.14.238 (about $ 4,195). The second most popular crypto asset also hit a new all-time high last week, although performance went under the radar as Bitcoin stole the limelight. The values ​​fell a little by the end of the week, but investors seem to be hoping for a sharp rise soon.

The Memecoins Shiba Inu and Dogecoin posted huge gains again and the reason is perhaps everyone’s guess. “Dog dad” Elon Musk tweeted a photo of his puppy that SHIB made to an all-time high early Sunday, but later responded to a tweet saying he owns “None,” which put the mood down. Dogecoin, meanwhile, is up over 8 percent and is trading at Rs. 21.22 (approximately 0.28) at the time of publication.

Cardano, Ripple and Litecoin saw red values ​​again.

While bitcoin-linked ETFs are all people are excited about right now, the price movements of ether suggest that investor attention has shifted from bitcoin following the launch of a bitcoin futures ETF in the US. The growth in decentralized financing (DeFi) and the current hype about non-fungible tokens (NFT) are also contributing to the rise of the Ethereum-based cryptocurrency.

Interested in cryptocurrency? We discuss everything about crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music, and anywhere you get your podcasts.

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