Bitcoin, Ether Prices Dip as Shiba Inu, Stablecoins Record Profits

With a 1.50 percent loss, BTC opened trading at the price point of $17,406 (roughly Rs. 14.4 lakh).

Written by Radhika Parashar, Edited by David Delima | Updated: 16 December 2022 10:42 IST

Bitcoin, Ether Prices Dip as Shiba Inu, Stablecoins Record Profits

Photo Credit: Pixabay/ WorldSpectrum

The total crypto market valuation currently stands at $850 billion

Highlights

Dogecoin saw losses on Friday
Binance's token came under selling pressure
Bitcoin SV, Zcash saw profits

Bitcoin registered a loss of 1.50 percent on national and international exchanges on Friday, and the oldest cryptocurrency was trading at the price point of $17,406 (roughly Rs. 14.4 lakh). BTC, in the last 24 hours, has effectively lost up to $328 (roughly Rs. 27,168) to trade at current prices. The cryptocurrency, so far in the last two months, has not been managed to trade above the level of $18,000 (roughly Rs. 14.90 lakh). More losses than gains were recorded on the crypto price charts, as the market opened for trade amid fluctuations on Friday.

Ether moved in alignment with Bitcoin and met with price dips. With a loss of 1.50 percent, ETH is trading at $1,270 (roughly Rs. 1.05 lakh), as per the crypto price tracker by Gadgets 360.

Most altcoins recorded minor price dips on Friday. These include Binance Coin, Cardano, Polygon, Litecoin, Solana, Tron, Uniswap, and Avalanche.

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Interestingly, Shiba Inu minted profits and surpassed its rival Dogecoin that saw its price fall.

Shiba Inu was joined by a several stablecoins on the profit-making side of the crypto price charts. Tether, USD Coin, and Binance USD reeled in gains on Friday.

Polkadot, Monero, Bitcoin SV, Zcash, and Neo Coin also bagged small but significant profits.

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“Binance's BNB token came under selling pressure (down 7 percent) as rumour mills continued to shill the idea of massive withdrawals from the platform. Meanwhile, OkX's OKB token was a gainer in Binance's loss (up 9 percent), as it's one of the few remaining large crypto exchanges. One of the top gainers for the week was Telegram's TON (up ~30 percent last week) after their founder announced plans to launch a wallet and DEX,” Parth Chaturvedi, Crypto Ecosystem Lead, CoinSwitch told Gadgets 360.

The overall crypto market fell by 1.30 percent in the last 24 hours. At present, the total market valuation stands at $850 billion as per CoinMarketCap.

“Closer home, CRE8, an Indian Rupee denominated Virtual Digital Asset (crypto) index was down 2.1 percent in the past seven days. The Index value stood at Rs. 2,363.51 at 8 AM, December 16, 2022. BTC and ETH continue to be the top assets by market capitalisation,” Chaturvedi noted.

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Cryptocurrency Prices across Indian exchanges

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Further reading: Cryptocurrency, Bitcoin, Ether, Binance Coin, Cardano, Polkadot, Polygon, Litecoin, Solana, Tron, Uniswap, Avalanche, Shiba Inu, Dogecoin, Tether, USD Coin, Binance USD, Monero, Bitcoin SV, Zcash, Neo Cash

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