BTC, ETH Log Minor Price Slips Globally, Crypto Rates See Notable Decline in India After WazirX Breach

On Indian exchanges, Bitcoing is trading at $58,862 (roughly Rs. 50 lakh).

Written by Radhika Parashar, Edited by Manas Mitul | Updated: 19 July 2024 13:26 IST

BTC, ETH Log Minor Price Slips Globally, Crypto Rates See Notable Decline in India After WazirX Breach

Photo Credit: Pixabay/ Sergei Tokmakov

The crypto sector valuation, as of Friday, July 19, stands at $2.35 trillion

Highlights

Litecoin, Polygon saw losses
Near Protocol, Cronos recorded minor gains
Binance Coin, Dogecoin also logged price slips

The crypto market recorded a minor slip in terms of pricing over the last 24 hours. While most cryptocurrencies recorded price fluctuations on international exchanges on Friday, July 19, Indian exchanges showed notable price declines following the security breach of one of WazirX's multi-signature wallets. Bitcoin, for instance, is trading at $64,056 (roughly Rs. 53.5 lakh) on CoinMarketCap after a loss of 1.17 percent. On Indian exchanges like BuyUCoin and WazirX, BTC is trading at $58,862 (roughly Rs. 50 lakh) after logging a decline of up to 12.39 percent.

“If BTC fails to climb above the $64,650 (roughly Rs. 54.09 lakh) resistance zone, it could move downward toward the $62,500 (roughly Rs. 52.2 lakh) level. Additionally, the recent hack of WazirX has added pressure on Indian investors. Market participants should monitor the market closely and stay updated,” Edul Patel, CEO of Mudrex, told Gadgets360.

Ether clocked a minor loss of 0.22 percent to trade at $3,416 (roughly Rs. 2.85 lakh) on CoinMarketCap. Whereas on Indian exchanges, ETH is trading within the range of $3,100 (roughly Rs. 2.59 lakh) and $3,413 (roughly Rs. 2.85 lakh) after seeing its price tumble up to 13.60 percent.

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As reflected on Gadgets360's crypto price tracker on Friday, most cryptocurrencies are trading in losses in India.

These include Tether, Binance Coin, Solana, Ripple, Dogecoin, Cardano, Avalanche, and Shiba Inu.

Polkadot, Chainlink, Bitcoin Cash, Leo, and Litecoin also suffered losses.

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The crypto market capitalisation slipped by 0.63 percent in the last 24 hours. Presently, the crypto sector valuation stands at $2.35 trillion (roughly Rs. 1,96,50,183 crore), as per CoinMarketCap.

Near Protocol, Cronos, Bitcon SV, and Iota, meanwhile, managed to see minor gains on Friday.

“In the US, major financial firms including BlackRock, Fidelity, 21Shares, Grayscale, Bitwise, and Invesco Galaxy have submitted their final S-1 filings to the SEC for the approval of spot ether ETFs. The regulator is anticipated to greenlight these applications next week, with the funds expected to be launched on Tuesday. This approval could mark a pivotal moment for the US crypto market,” the CoinSwitch markets desk told Gadgets360.

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Cryptocurrency Prices across Indian exchanges

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Further reading: Cryptocurrency, Bitcoin, Ether, Qutm, Wrapped Bitcoin, Zcash, Tether, USD Coin, Ripple, Binance USD, Binance Coin, Cardano, Polygon, Solana, Polkadot, Dogecoin, Shiba Inu, Litecoin, Uniswap, Tron, Monero, Dash, Bitcoin Cash, Flex, Cartesi, Braintrust, Kishu Inu, Circuits of Value

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