Bitcoin (BTC) continues its upside-down week, with ratings up 0.13 percent in the past 24 hours. The world’s oldest cryptocurrency opened trading at $ 67,173 (around 50 rupees) on Indian exchange CoinSwitch Kuber on Thursday, while global exchanges like Coinbase and Binance are listing BTC at around USD 62,800 (around 46.7 lakh). Bitcoin investors have yet to bounce back in November after hitting a new all-time high in late October, but the cryptocurrency is consistently trading at a valuation of over USD 63,000 (around 47 lakh), indicating a highly anticipated price consolidation.
As Bitcoin’s influence on global crypto dominance wanes, Altcoins continue to rise in value. Gadgets 360’s cryptocurrency price tracker reveals that the second most valuable cryptocurrency in ether is currently trading at $ 4,897 (roughly 3.6 lakh), up 0.75 percent over the past 24 hours. Ether hit a new all-time high on Wednesday based on news of a wider adoption of blockchain. The token underpinning the Ethereum blockchain network surged as high as $ 4,643 (about 3.45 lakh) on Wednesday after days of marginal gains on the global exchanges.
“The upgrade of Ethereum’s beacon chain has got off to a flying start, driving up the price of Ether around the world. The Ethereum blockchain has very strong fundamentals and is widely used in fast growing Defi and NFT projects, making the future of Ether even more promising, ”says BuyUcoin CEO Shivam Thakral.
“Ether has had an excellent return on investment since the beginning of this year, with impressive growth of around 400 percent. The latest upgrade will make Ethereum a more secure and resilient network for crypto-related transactions, which will further increase investor confidence, ”added Thukral, in response to Ether’s strong run.
Meanwhile, both Shiba Inu and Dogecoin saw slumps in the battle of the meme coins – SHIB fell nearly 12 percent while DOGE fell 0.64 percent to Rs. 21.58 (about 0.29).
Other altcoins have enjoyed a run for the green as well, with Cardano, Ripple, Tether and Polkadot all posting substantial gains.
The introduction of mainstream cryptocurrency has been driving the market surge lately. Factors like the introduction of cryptocurrencies by banks, non-fungible tokens (NFT) that are becoming increasingly popular on virtual gaming platforms, and the introduction of Bitcoin futures-based ETFs in the US have had several blockchain tokens, including Bitcoin and Ether, since October. driven upwards.
Interest in smaller tokens has also increased since Facebook changed its name to Meta in order to focus on building the “Metaverse”, a shared virtual environment.
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.
Cryptocurrency is an unregulated digital currency, not a legal tender and is subject to market risks. The information provided in this article is not intended as financial advice, trading advice, or any other advice or recommendation of any kind offered or endorsed by NDTV. NDTV is not responsible for losses that may arise from an investment based on perceived recommendations, forecasts or other information contained in the article.