Bitcoin, Ether See Gains on Crypto Price Charts; BTC Remains Under $17,000 Mark for Third Week

With a small profit of 0.70 percent, BTC is trading at the price point of $16,988 (roughly Rs. 14 lakh).

Written by Radhika Parashar, Edited by David Delima | Updated: 7 December 2022 10:37 IST

Bitcoin, Ether See Gains on Crypto Price Charts; BTC Remains Under $17,000 Mark for Third Week

Photo Credit: Pexels/ Roger Brown

The crypto market valuation stands at $853 billion

Highlights

Ripple, Polygon saw gains
Uniswap, Chainlink registered losses
Solana saw dips

The crypto market rallied with gains on Wednesday. With a small profit of 0.70 percent, BTC is trading at the price point of $16,988 (roughly Rs. 14 lakh), according to Gadgets 360's crypto price tracker. BTC also moved in a similar trajectory on international exchanges, such as Coinbase, Binance, and CoinMarketCap. Disappointingly for the market riders, it has been nearly three weeks since BTC has continued to trade below the mark of $17,000 (roughly Rs. 14.05 lakh).

Ether closely followed BTC to register minor gains on Wednesday. With a gain of 0.63 percent, ETH is presently priced at $1,263 (roughly Rs. 1.04 lakh), Gadgets 360's price tracker shows.

Most cryptocurrencies reeled-in gains on Wednesday.

[Sponsored] Samsung Galaxy S24: The Ultimate Camera Phone With Smarter On-Device AI

Profit-making altcoins include Tether, Binance Coin, USD Coin, Binance USD, and Ripple.

Polygon, Polkadot, Tron, and Avalanche also witnessed minor profits.

Meanwhile, losses also reflected for some altcoins, such as the memecoins DOGE and SHIB.

US’ Kentucky Begins Evaluating Cost-Effective Electricity Operations for BTC Miners

Cardano, Litecoin, Solana, Uniswap, Chainlink, and Cosmos also saw losses on Wednesday.

The overall crypto market rose by a miniscule 0.01 percent in the last 24 hours. Its current valuation stands at $853 billion (roughly Rs. 70,46,895 crore), CoinMarketCap shows.

Several crypto firms have had to lay off chunks of their workforces over the past couple of weeks, to keep their respective businesses afloat. Singapore-based ByBit crypto exchange is the latest crypto exchange that announced a 30 percent reduction in its staff earlier this week.

To help the crypto market regain investors' trust, Goldman Sachs is reportedly looking to buy or invest in crypto firms that are struggling to overcome the aftermath of the FTX crypto collapse.

What are the best smartphones you can buy in India in 2022? These are the phones we think stood out the most this year Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

Affiliate links may be automatically generated - see our ethics statement for details.

Cryptocurrency Prices across Indian exchanges

Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.

Further reading: Cryptocurrency, Bitcoin, Ether, Tether, Binance Coin, USD Coin, Binance USD, Ripple, Polygon, Polkadot, Tron, Avalanche, Dogecoin, Shiba Inu, Cardano, Litecoin, Solana, Uniswap, Chainlink, Cosmos

Radhika Parashar

Email Radhika

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