Bitcoin, Ether See Minor Gains as Crypto Price Charts Indicate Flowing Market Movement

The global crypto market rose by nearly 2 percent and the total market cap now stands at $1.72 trillion (roughly Rs. 1,28,63,420 crore).

By Radhika Parashar | Updated: 4 February 2022 10:40 IST

Bitcoin, Ether See Minor Gains as Crypto Price Charts Indicate Flowing Market Movement

Photo Credit: Unsplash/ Dmitry Demidko

Currently, Bitcoin and Ether’s market dominance is 41 percent and 18 percent, respectively

Highlights

Terra and Polkadot saw gains
Dogecoin and Shiba Inu registered losses
Overall crypto market showed improvement

The month of February has started re-animating the crypto market that had been largely in red on price charts throughout January 2022. On Friday, February 4, Bitcoin opened trading with a small gain of 0.37 percent in India. The world's most-valued cryptocurrency is trading at $40,003 (roughly Rs. 30 lakh) on Indian exchange CoinSwitch Kuber. For a change, BTC has also registered gains of around 1.18 percent on international exchanges. Each BTC token is trading at around $37,344 (roughly Rs. 28 lakh) on CoinMarketCap and Binance.

Along with Bitcoin, Ether also bagged little gains on Friday. With a hike of 0.02 percent, Ether opened trading at $2,881 (roughly Rs. 2.15 lakh) as per Gadgets 360's crypto price tracker.

The second-largest cryptocurrency by market capitalisation seems to be getting back on gain track on international markets as well. The ETH coin registered gains of up to 0.86 percent on Binance and Coinbase, hiking its trade value to $2,689 (roughly Rs. 2 lakh).

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Minute gains roped in by other altcoins including Binance Coin, Cardano, Solana, Ripple, Terra, and Polkadot also improved the overall health of the crypto market.

Industry experts have noted the changes in the crypto charts, expecting growth in crypto prices in the coming days as well.

“Bitcoin and Ethereum have gained the ground back after dipping on Thursday, February 3. The global crypto market rose by nearly 2 percent, while the trading volume decreased by 8 percent over the past 24 hours,” Edul Patel CEO and co-founder crypto investment firm Mudrex told Gadgets 360.

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As per CoinMarketCap, the current crypto market cap stands at $1.72 trillion (roughly Rs. 1,28,63,420 crore).

“Currently, BTC's dominance in the market is 41 percent and is switching tight between the support and resistance levels. BTC buyers have been losing ground to sellers since the start of this year as a trend. At the same time, most altcoins are showing up in green, gaining some decent growth than the previous day,” Patel added.

Meanwhile, some altcoins like Dogecoin, Shiba Inu, Tether, and USD Coin registered losses today.

Earlier this week, DOGE co-founder Billy Markus warned the members of this meme-coin community against getting “toxic, attacky, and spammy” after the altcoin remained riddled with losses these past months.

Markus asked the DOGE community to stay away from price and hike speculations that could devalue the brand.

Interested in cryptocurrency? We discuss all things 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 wherever you get your podcasts.

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Cryptocurrency Prices across Indian exchanges

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

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