BTC, ETH Lead Most Altcoins Upstream; DOGE Rallies After Elon Musk’s Twitter Takeover

While BTC prices have reached around $40,544 (roughly Rs. 31 lakh), ETH prices have come around to $3,005 (roughly Rs. 2.30 lakh) on international exchanges.

By Radhika Parashar | Updated: 26 April 2022 11:26 IST

BTC, ETH Lead Most Altcoins Upstream; DOGE Rallies After Elon Musk’s Twitter Takeover

Photo Credit: Pixabay/ Sergei Tokmakov

Presently, the overall market cap of the crypto industry is $1.86 trillion

Highlights

Shiba Inu registers gains
Terra, Avalanche see profits
Spell Token value plummets down

The overall crypto price chart reflected recovery on Tuesday, April 26 as most cryptocurrencies opened with gains. Bitcoin prices spiked by 2.39 percent to touch $42,460 (roughly Rs. 32 lakh) on Indian exchange CoinSwitch Kuber. BTC's movement replicated similar results on international exchanges as well. As per CoinMarketCap and Binance, for instance, BTC registered even bigger gains of up to 3.14 percent. On these global exchange platforms, BTC is trading at around $40,544 (roughly Rs. 31 lakh). BTC prices were hovering around $39,000 (roughly Rs. 30 lakh) one day ago, on April 25.

“The short-term BTC buyers have returned around the support level at $37,000 (roughly Rs. 28 lakh), the resistance level above the $43,000 (roughly Rs. 33 lakh) can reverse the downward trend,” Edul Patel, CEO and Co-founder of Mudrex told Gadgets 360.

Ether also jumped up on the crypto price ladder. With a gain of 3.90 percent, ETH price reached $3,148 (roughly Rs. 2.40 lakh) in India, as per Gadgets 360's crypto price tracker. The second most valued cryptocurrency also saw gains of up to 4.67 percent on international exchanges, bringing its value to $3,005 (roughly Rs. 2.30 lakh).

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While BTC and ETH pulled other cryptocurrencies also up the price ladder, meme-based Dogecoin registered an exemplary overnight growth of around 20 percent. Currently, Dogecoin values are buzzing around $0.16 (roughly Rs. 12) on national and international platforms.

DOGE movement was triggered after Twitter confirmed its sale to Tesla CEO Elon Musk for $44 billion (roughly Rs. 3,36,448 crore). As is already known, Musk is an avid supporter of the Dogecoin.

Binance Coin, Solana, Ripple, Terra, and Cardano emerged among other gainers.

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Only a few cryptocurrencies, mostly US dollar pegged stablecoins, dropped down on the price ladder.

These include Tether, USD Coin, and Binance USD among other underdog tokens like Qtum and Spell Token.

In other related news, the Central African Republic, a landlocked nation which lies roughly at the centre of the African continent, has become the first African country to declare Bitcoin a legal tender.

With this, the Central African Republic has become world's second region to have adopted BTC as an alternate payment method. Last year in September, El Salvador had become the first nation to have done so.

Presently, the overall market cap of the crypto industry stands at $1.86 trillion (roughly Rs. 1,42,96,348 crore), as per CoinMarketCap.

Are affordable smartwatches worth it? We discuss this on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

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Cryptocurrency Prices across Indian exchanges

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Further reading: Cryptocurrency, Bitcoin, Ether, Dogecoin, Cardano, Ripple, Shiba Inu, Binance Coin, Solana, Terra, Tether, Binance USD, USD Coin, Qtum

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