BTC, ETH, Majority Cryptocurrencies Witnessed Losses Today, Overall Market Sees Dip

Bitcoin’s current trading value stands at $16,825 (roughly Rs. 13.8 lakh).

Written by Radhika Parashar, Edited by Siddharth Suvarna | Updated: 8 December 2022 11:07 IST

BTC, ETH, Majority Cryptocurrencies Witnessed Losses Today, Overall Market Sees Dip

Photo Credit: Pixabay/ Sergei Tokmakov

At present, the global market valuation stands at $842.26 billion

Highlights

DOGE, SHIB saw losses
EOS Coin, Flex saw profits
Tether, Binance Coin saw losses

The crypto price chart, on Thursday, December 8, was drenched in reds after more cryptocurrencies saw losses. Bitcoin value dropped by 1.37 percent as per Gadgets 360's crypto price tracker. On international exchanges like Binance and Coinbase as well, the digital asset slipped by the same margin. Overall, Bitcoin's current trading value stands at $16,825 (roughly Rs. 13.8 lakh). A day ago, BTC prices were higher by $163 (roughly Rs. 13,425). For weeks, BTC has been showing only a range-bound movement and experts do not see any sudden changes in its trajectory anytime soon.

Ether, trailed behind Bitcoin to see a slightly bigger value dip of 2.50 percent. At present, ETH is trading at $1,231 (roughly Rs. 1.01 lakh), as per the Gadgets 360's tracker.

Tether, Binance Coin, USD Coin, Cardano, Polygon, and Polkadot — all opened with price dips.

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Dogecoin and Shiba Inu slipped down the price ladder along with Solana, Tron, Uniswap, and Avalanche.

The overall crypto market fell by 1.45 percent in the last 24 hours. At present, the global market valuation stands at $842.26 billion (roughly Rs. 69,37,180 crore).

Meanwhile, only a small number of altcoins managed to see marginal profits today.

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These include Binance USD, Ripple, EOS Coin, Dash, and Flex.

In the backdrop of constant market dips, crypto players are trying to attract the trust of investors to fetch back funds into the digital assets sector.

Binance, on December 7, published the first factual findings report outlining the status of its proof-of-reserves. The aim is to ensure its users that the exchange will be able to handle mass-withdrawals case of an emergency.

You can read the full report on #Binance's #BTC Proof of Reserves below.

Stay tuned as other tokens will be coming soon.

:arrow_right: https://t.co/3ICn9UPjYr
— Binance (@binance) December 7, 2022

Following the collapse of the FTX crypto exchange, Goldman Sachs has decided to buy and invest in crypto firms that have been impacted by the market volatility.

The eventual intension is to help distressed firms get back on their feet and to have investors re-enter the trading arena.

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Cryptocurrency Prices across Indian exchanges

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