Bitcoin Hovers Over $67,000, Ether and Solana Manage to See Gains Despite Ongoing Slowdown

In the last 24 hours, the value of Bitcoin tumbled by $111 (roughly Rs. 9,250).

Written by Radhika Parashar, Edited by Siddharth Suvarna | Updated: 29 March 2024 12:47 IST

Bitcoin Hovers Over $67,000, Ether and Solana Manage to See Gains Despite Ongoing Slowdown

Photo Credit: Pixabay/ WorldSpectrum

The overall market cap of the crypto sector stands at $2.65 trillion

Highlights

Tether, USD Coin saw losses
Polkadot, Bitcoin Cash saw losses
Cronos, Stellar saw gains

Bitcoin on Friday, March 29 saw a loss of 0.18 percent. The value of Bitcoin, at the time of writing stood at $67,034 (roughly Rs. 55.8 lakh). In the last 24 hours, the value of Bitcoin tumbled by $111 (roughly Rs. 9,250). Market experts believe that in the coming days, the most expensive asset could see its price consolidating at the mark of $70,400 (roughly Rs. 58.6 lakh). A bunch of cryptocurrencies followed Bitcoin on the loss-trail.

Tether, Binance Coin, USD Coin, Cardano, Bitcoin Cash, and Polygon followed Bitcoin on the loss-making side of the crypto chart on Friday.

“Both Bitcoin and Ethereum are expected to see some volatility with $15 billion (roughly Rs. 1,25,022 crore) worth of options set to expire. Overall, the market remains extremely greedy,” Edul Patel, CEO of Mudrex told Gadgets360.

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Ether managed to see a miniscule gain of 0.86 percent as of Friday. The price of Ether currently stands at $3,390 (roughly Rs. 2.82 lakh).

Solana, Ripple, Dogecoin, Avalanche, Shiba Inu, and Polkadot managed to register minor gains.

The list was further joined by Tron, Near Protocol, Litecoin, Cronos, and Stellar.

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“On the market front, most of the top 10 crypto assets by market cap managed to trade in the green in the last 24 hours, with DOGE (+9.4 percent) leading the gains. Technical analysis shows that DOGE's performance could be attributed to a prolonged reversal,” Parth Chaturvedi, Investments Lead, CoinSwitch Ventures told Gadgets360.

The crypto market is currently witnessing the legal run-ins of several players across different geographical locations. Binance, Coinbase, and KuCoin are already under probe in Nigeria, Philippines, and the US over different issues.

In addition, Sam Bankman-Fried, the CEO of now defunct FTX exchange has been sentenced to 25 years in prison for multi-billion-dollar FTX fraud.

The overall crypto market cap rose by 0.58 percent in the last 24 hours. The valuation of the sector currently stands at $2.65 trillion (roughly Rs. 2,20,87,246 crore), as per CoinMarketCap.

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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