Bitcoin Leads Most Altcoins Up the Price Ladder as Crypto Chart Boasts Profits

BTC’s dominance is currently at 41.82 percent and the oldest cryptocurrency is inching close to the price mark of $46,000 (roughly Rs. 35 lakh).

By Radhika Parashar | Updated: 25 March 2022 10:53 IST

Bitcoin Leads Most Altcoins Up the Price Ladder as Crypto Chart Boasts Profits

Photo Credit: Pixabay/ WorldSpectrum

The market cap of the overall crypto market has touched $2 trillion (roughly Rs. 1,52,39,826 crore).

Highlights

Solana, Avalanche saw gains
Polkadot also witnessed hike
Doge, Shiba Inu remained dented by losses

The global crypto trading volume rose by seven percent in the last 24 hours, and its direct effect reflected on the price charts on Friday, March 25. Bitcoin, with a gain of 2.92 percent, opened trading at $44,643 (roughly Rs. 34 lakh) on Indian exchange CoinSwitch Kuber. On international exchanges, BTC roped in similar gains and improved its global trading value. With profits of over 2.5 percent, the world's oldest cryptocurrency is trading at $43,971 (roughly Rs. 33.5 lakh).

Ether bagged bigger gains than Bitcoin. As per Gadgets 360's crypto price tracker, Ether gained 3.88 percent and opened trading at $3,187 (roughly Rs. 2.5 lakh) in India. On Binance and CoinMarketCap, ETH rose by 3.55 percent taking its trade values to around $3,138 (roughly Rs. 2.3 lakh).

Tether, Binance Coin, USD Coin, Ripple, and Cardano emerged among other profit-reapers.

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Solana, Avalanche, and Polkadot also registered gains.

“BTC's dominance is currently at 41.82 percent, while its resistance lies between $46,000 (roughly Rs. 35 lakh) and $51,000 (roughly Rs. 39 lakh). BTC can reverse the four-month-long downtrend if it crosses the lower resistance of $46,000 (roughly Rs. 35 lakh),” Edul Patel, CEO and Co-Founder of Mudrex crypto investment firm, told Gadgets 360.

A small number of altcoins opened with losses today, opening up opportunities for interested investors to buy the dips if they please.

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Memecoins DOGE and SHIB both opened with slashed prices.

Binance USD, SushiSwap, DOGEFI also joined the value losing bench of altcoins.

Nevertheless, the overall sentiment towards cryptocurrencies seem to be taking a positive turn amid geopolitical tensions.

Pavel Zavalny, the chief of the Russian Federation, has reportedly hinted at the possibility of accepting Bitcoin as payment mode for its oil and gas from “friendly countries” such as China and Turkey.

At a time the US is seeking a glimpse into El Salvador's financial performances post legalising BTC, Salvadoran president Nayib Bukele has met with Binance CEO Chengpeng Zhao, who is currently visiting the first nation in the world to have legalised Bitcoin.

¡Los anuncios de hoy van a cambiar el país para siempre! :flag-sv::volcano: pic.twitter.com/OFua0cEi0n
— Milena Mayorga (@MilenaMayorga) March 25, 2022

Industrially speaking, Meta has joined the list of tech giants to file Web 3-related trademarks in the US. The company has filed for a total of eight trademarks.

The market cap of the overall crypto market has touched $2 trillion (roughly Rs. 1,52,39,826 crore) for the first time in 2022.

Asus India's Arnold Su joins this week's Orbital, the Gadgets 360 podcast, to talk about how the PC maker is planning to grow its presence in the country. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

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Cryptocurrency Prices across Indian exchanges

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Further reading: Cryptocurrency, Bitcoin, Ether, Bianance Coin, USD Coin, Ripple, Cardano, Solana, Dogecoin, Shiba Inu, Avalanche, Polkadot, Binance USD, SushiSwap, El Salvador, Binance, Chengpeng Zhao, Nayib Bukele

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