Crypto Market Watch: Bitcoin and Ether Rally With Profits, Most Altcoins Record Gains

With a small gain of 0.83 percent, Bitcoin is trading at the price point of $30,440 (roughly Rs. 24.9 lakh).

Written by Radhika Parashar, Edited by Manas Mitul | Updated: 30 June 2023 11:16 IST

Crypto Market Watch: Bitcoin and Ether Rally With Profits, Most Altcoins Record Gains

Photo Credit: Pixabay/ Dean Crosby

The valuation of the crypto market cap stands at $1.19 trillion

Highlights

DOGE, SHIB saw gains
Solana recorded profits
Braintrust, Augur saw losses

Bitcoin on Friday, June 30, reflected a small profit of 0.83 percent that brought its trading value to $30,440 (roughly Rs. 24.9 lakh). The value of the top-most cryptocurrency rose by $300 (roughly Rs. 24,606). The price of Bitcoin experienced a significant increase due to the better-than-expected performance of the US GDP and lower unemployment claims. The announcement of Fidelity Investments' intention to launch a Bitcoin ETF has also boosted the optimistic market sentiment, Rajagopal Menon, Vice President, WazirX, told Gadgets 360.

Ether followed Bitcoin on the profit-making side of the crypto price chart on Friday. ETH, at the time of writing, was trading at $1,850 (roughly Rs. 1.5 lakh) after incurring a profit of 0.84 percent.

Following BTC and ETH's price rally, most altcoins recorded small profits on Friday.

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These include stablecoins Tether, USD Coin, Ripple, and Binance USD alongside Binance Coin, Cardano, and Solana.

Memecoins Dogecoin and Shiba Inu also recorded profits with Chainlink, Monero, Uniswap, and Stellar.

The valuation of the crypto market went up by 2.27 percent in the last 24 hours. As per CoinMarketCap, the crypto market cap currently stands at $1.19 trillion (roughly Rs. 97,62,867 crore).

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The crypto fear and greed index has jumped two points to re-enter the greed zone with a score of 56/100.

“All of the top 10 cryptos by market capitalization seem to be trading in the green, with SOL (+16.5%) soaring the most. Crypto markets have traded sideways in the last 24 hours, even amidst rekindled inflationary concerns and proposed Fed rate hikes. Furthermore, a UK bill giving regulators the power to supervise crypto and stablecoins has now become a law after receiving the last required approval from King Charles,” Parth Chaturvedi, Investments Lead, CoinSwitch Ventures, told Gadgets 360.

Some cryptocurrencies, however, did see losses on Friday. These include Leo, Cosmos, Ardor, Braintrust, Augur, and Circuits of Value.

“The market sentiment is also influenced by the news of MicroStrategy's announcement of purchasing an additional $374 million (roughly Rs. 3067 crore) worth of Bitcoin. Bitcoin currently faces a resistance level at $30,750 (roughly Rs. 25.2 lakh) and has a support level at $30,420 (roughly Rs. 24.9 lakh). In a similar fashion, Ethereum, the second largest cryptocurrency, followed Bitcoin's lead and experienced a gain of approximately two percent compared to the previous day,” Edul Patel, CEO of Mudrex crypto investment firm, 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