BTC, ETH Hit With Losses as Overall Crypto Market Cap Drops by 0.86 Percent in 24 Hours

As per Coinbase and Binance for instance, BTC values are hovering around the price point of $20,338 (roughly Rs. 16.7 lakh).

Written by Radhika Parashar, Edited by Siddharth Suvarna | Updated: 3 November 2022 11:25 IST

BTC, ETH Hit With Losses as Overall Crypto Market Cap Drops by 0.86 Percent in 24 Hours

Photo Credit: Pixabay/ WorldSpectrum

The overall crypto market cap valuation stands at $1.01 trillion

Highlights

Polkadot, Shiba Inu saw losses
Tron, Uniswap saw value dips
Avalanche, Litecoin saw small gains

After registering continuous growth for at least five consecutive days, the crypto price charts reflected losses for most altcoins on Thursday, November 3. Bitcoin opened with a price dip of 0.86 percent, as per the crypto price tracker by Gadgets 360. In India, BTC price currently stands at $20,310 (roughly Rs. 16.8 lakh). The first every cryptocurrency also recorded losses on international exchanges. As per Coinbase and Binance for instance, BTC values are hovering around the price point of $20,338 (roughly Rs. 16.7 lakh) after meeting with losses of up to 0.90 percent.

Ether, in its conventional movement, followed Bitcoin into losses. With a value drop of 2.68 percent, ETH is currently trading at $1,545 (roughly Rs. 1.28 lakh), the crypto price tracker by Gadgets 360 shows.

“Nonfarm payrolls and unemployment rate figures that would be released shortly will give more clarity as to whether the FED would have enough leverage and data-backing to justify a 5th consecutive 75bps rate hike next month. Meanwhile, the crypto markets have also exhibited increased volatility,” said the research team by CoinDCX.

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Most altcoins opened with losses today.

These include Binance Coin, Dogecoin, Ripple, Cardano, and Solana.

Polkadot, Shiba Inu, Tron, and Uniswap also witnessed price dips.

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The overall crypto market cap decreased by 0.86 percent in the last 24 hours and the valuation stands at $1.01 trillion (roughly Rs. 83,67,357 crore).

Only a handful of cryptocurrencies opened with profits today.

These include stablecoins such as Tether, USD Coin, and Binance USD as well as Polygon, Avalanche, Litecoin, and LEO.

Apple unveiled eight new products at its September 'Far Out' event. Which ones will float — and which will sink? 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, Binance Coin, Dogecoin, Ripple, Cardano, Solana, Polkadot, Shiba Inu, Tron, Uniswap, Tether, USD Coin, Binance USD, Polygon, Avalanche, Litecoin, LEO

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