Crypto Price Today: Bitcoin, Ether and Most Other Cryptocurrencies See Values Rise

Bitcoin price saw a small hike of 0.26 percent and was trading at $26,087 (roughly Rs. 21.5 lakh) on Tuesday.

Written by Radhika Parashar, Edited by David Delima | Updated: 29 August 2023 11:44 IST

Crypto Price Today: Bitcoin, Ether and Most Other Cryptocurrencies See Values Rise

Photo Credit: Pixabay/ WorldSpectrum

The crypto market valuation stands at $1.05 trillion, unchanged in the last 24 hours

Highlights

Monero and Cosmos saw their values rise on Tuesday
Both Elrond and Uniswap also recorded profits
Digital assets like Ardor and Braintrust dropped in value

Bitcoin price rose on Tuesday, alongside Ether and many other cryptocurrencies. The crypto price chart — after several days — reflected profits next to most digital assets. Bitcoin saw a small price hike of 0.26 percent, to trade at $26,087 (roughly Rs. 21.5 lakh). In the last 24 hours, the world's most widely used digital asset did not see any notable changes in its price point. The most expensive cryptocurrency only managed to grow by $39 (roughly Rs. 3,221) over the last 24 hours. Industry experts have noted that the crypto market has only traded sideways with minor gains since Monday.

Ether price rose by 0.34 percent on Tuesday. The second most expensive crypto asset after Bitcoin, ETH was trading at $1,653 (roughly Rs. 1.3 lakh) on Tuesday.

" BTC is facing an 11 percent decline month-to-date, attributed to intensified selling pressure and a lack of new market-driving factors. The absence of clear dominance from either buyers or sellers suggests a potential sideways movement for BTC, oscillating between the $25,900 (roughly Rs. 21.4 lakh) and $26,300 (roughly Rs. 21.7 lakh) range in the coming days. In broader context, both the cryptocurrency and traditional markets exhibit bearish sentiments as of now," Edul Patel,Co-Founder and CEO, Mudrex told Gadgets 360.

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Despite reeling-in profits on Tuesday, neither BTC nor ETH managed to break out of their low prices that have left the assets stagnating at around $26,000 and $1,600 respectively, for weeks now.

Other cryptocurrencies that recorded gains on Tuesday include Tether, Binance Coin, Ripple, USD Coin, Cardano, Dogecoin, and Solana. Polkadot, Polygon, Shiba Inu, Litecoin, Avalanche, Stellar, Chainlink, and Uniswap also managed to mint small profits today.

The overall crypto market cap rose by 0.21 percent in the last 24 hours but its valuation of $1.05 trillion (roughly Rs. 86,80,402 crore) remained unchanged from Monday, according to CoinMarketCap. The crypto fear and greed index has also shown no change since yesterday and continues to be in the fear zone with a score of 39/100.

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Meanwhile, a small number of cryptocurrencies did see losses on Tuesday. These include Tron, Bitcoin Cash, Leo, Qtum,Augur, and Circuits of Value.

"Investors are likely to keep a watch on PEPE and DYDX in the coming days. While PEPE was in negative news recently with the founding team selling off a major chunk of market price on various exchanges, DYDX is about to launch its v4 - where a mainnet launch can offset the selling pressure that might be caused by a huge token unlock (~3.7 percent of the circulating supply) happening tomorrow. Volatility can be expected either way," Shubham Hudda, Senior Manager, CoinSwitch Markets Desk told Gadgets 360.

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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