BTC, ETH Reflect Gains as Overall Crypto Market Swells by 4.30 Percent in 24 Hours

Bitcoin on Tuesday, November 15, rose by 4.46 percent to trade at $16,668 (roughly Rs. 13.5 lakh).

Written by Radhika Parashar, Edited by Siddharth Suvarna | Updated: 15 November 2022 11:16 IST

BTC, ETH Reflect Gains as Overall Crypto Market Swells by 4.30 Percent in 24 Hours

Photo Credit: Pixabay/ Sergei Tokmakov

The global crypto market cap currently stands at $844.16 billion (roughly Rs. 68,60,802 crore)

Highlights

Dogecoin, Shiba Inu saw gains
Crypto markets remain volatile
FTX’s fall remains trigger for crypto volatility

The crypto market seems to be enroute recovery now in the backdrop of the FTX debacle still settling down. Bitcoin on Tuesday, November 15, rose by 4.46 percent to trade at $16,668 (roughly Rs. 13.5 lakh). The first ever cryptocurrency also recorded price hikes of approximately five percent on international exchanges. As per Binance and Coinbase for instance, BTC values are hovering close to the price point of $16,736 (roughly Rs. 13.6 lakh).

Ether tailed behind Bitcoin to record small, but significant profits. With a gain of 6.30 percent, ETH prices have touched the price point of $1,253 (roughly Rs. 1.01 lakh), as reflected on the crypto price tracker by Gadgets 360.

Majority cryptocurrencies rallied along BTC and ETH on the gain trail. These include Tether, Binance Coin, USD Coin, Ripple, Cardano, Polygon, Polkadot, and Solana.

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Dogecoin and Shiba Inu also recorded profits.

“Peak volatility has returned to crypto markets as Bitcoin tested new lows with market indecisiveness and volatility currently playing out due to promising macroeconomic indicators. FTX mishandled user funds and had poor risk management policies leading to an industry wide fear reiterating the desperate need for transparency and regulation specifically surrounding stablecoin flows and their associated leverage,” the CoinDCX research team told Gadgets 360.

FTX Token and Flex however, failed to show any profits and settled with losses.

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The global crypto market cap currently stands at $844.16 billion (roughly Rs. 68,60,802 crore) after having risen by 4.40 percent in the last 24 hours.

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Further reading: Cryptocurrency, Bitcoin, Ether, Tether, Binance Coin, USD Coin, Ripple, Cardano, Polygon, Polkadot, Solana, Dogecoin, Shiba Inu, FTX Token, Flex

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