BTC and ETH Struck by Small Losses, Majority Altcoins Register Dips

According to the data by Binance and Coinbase, BTC saw losses of up to 2.53 percent, to trade at $22,823 (roughly Rs. 18 lakh).

BTC and ETH Struck by Small Losses, Majority Altcoins Register Dips

Photo Credit: Unsplash/ Michael Fortsch

The global crypto market cap currently stands at $1.09 trillion

Highlights
  • Dogecoin, Shiba Inu saw losses
  • Binance Coin, Cardano saw losses
  • Dogefi, Bitcoin Hedge saw gains

Despite showing an overall recovery, the crypto market continues to be affected by market volatility. Bitcoin on Friday, August 19, slipped by 1.15 percent to trade at $24,979 (roughly Rs. 20 lakh) as per Indian exchange CoinSwitch Kuber. The highest-ranking cryptocurrency failed to see profits on international exchanges as well. According to the data by Binance and Coinbase, BTC saw losses of up to 2.53 percent, to trade at $22,823 (roughly Rs. 18 lakh). Investors can heave a sigh of relief because clearly, despite these losses, BTC has maintained a healthy price-point on both, national and international levels.

Ether fell by 1.64 percent following BTC's movement, the crypto price tracker by Gadgets 360 showed.

“Crypto asset prices traded sideways last week as they rallied after US inflation data showed signs of cooling off, but much of the gains were pared during the course of the week. ETH's market capitalisation dominance is now >19 percent much of it at the cost of BTC's market capitalisation dominance, that has fallen to ~38 percent. ETH has been gaining DeFi TVL market share as well, against other Layer 1s,” Parth Chaturvedi, the Crypto Ecosystem Lead at CoinSwitch Kuber told Gadgets 360.

Binance Coin, Ripple, Cardano, Solana, and Polkadot incurred losses on the crypto price chart.

Even Dogecoin and Shiba Inu slipped down the price ladder with minor, but significant losses.

“DOGE and SHIB have been clear outliners suggesting that ‘risky/speculative' capital is finding its way back into crypto assets, although DogeChain launch can be attributed for much of the hype in DOGE,” Chaturvedi noted.

Explaining the reasons behind this market slump, Chaturvedi said, “the sanctions against Tornado Cash, have negatively impacted the sentiments around DeFi in general and related tokens have seen sharp selling pressure last week.”

The global crypto market cap currently stands at $1.09 trillion (roughly Rs. 86,53,720 crore), down by 2.98 percent over the last day, as per CoinMarketCap.

With August entering its last leg, only a few cryptocurrencies like Tether, USD Coin, Status, Dogefi, and Bitcoin Hedge managed to reel-in small gains.


Do the Galaxy Z Fold 4 and Z Flip 4 offer enough over last year's models? 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.

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 Twitter, Facebook, and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel.

Radhika Parashar
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
Adidas RPT-02 SOL Solar Powered Wireless Headphones With Up to 80-Hour Battery Life Launched
Share on Facebook Tweet Snapchat Share Reddit Comment google-newsGoogle News
© Copyright Red Pixels Ventures Limited 2022. All rights reserved.