BTC Opens Trading at $16,950 as Crypto Chart Sees Profits on Many Altcoins

As per the crypto price tracker by Gadgets 360, BTC is trading at $16,950 (roughly Rs. 13.6 lakh).

Written by Radhika Parashar, Edited by Siddharth Suvarna | Updated: 11 November 2022 11:20 IST

BTC Opens Trading at $16,950 as Crypto Chart Sees Profits on Many Altcoins

Photo Credit: Reuters

The total market cap of the crypto sector stands at $857.16 billion

Highlights

Dogecoin, Shiba Inu saw losses
FTT, SOL tokens have dived down significantly
Bitcoin Hedge, Dogefi saw losses

The crypto market is under great pressure amid the fall of the FTX exchange and its native token FTT. After a significant price drop, Bitcoin saw gains again on Friday, November 11. As per the crypto price tracker by Gadgets 360, BTC is trading at $16,950 (roughly Rs. 13.6 lakh). The price for BTC has seemingly risen by 3.33 percent in the last 24 hours. On international exchanges as well, BTC slipped by 3.80 percent to trade at a similar price point.

Ether price also spiked by 4.70 percent on Friday. As per the crypto price tracker, Ether is trading at $1,234 (roughly Rs. 99,650).

Struggling against the roughed-up market momentum, Binance Coin, Ripple, Cardano, Polygon, Polkadot, and Solana made profits.

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Dogecoin and Shiba Inu also rallied with gains.

“The highest drawdowns were in tokens at the centre of the drama: FTT and Alameda backed SOL. FTX's exchange token FTT has crashed 90 percent in the last seven days, while SOL has tumbled down by 50 percent in the same time frame; cumulatively wiping out more than $10 billion (roughly Rs. 80,817 crore) in M.Cap amongst these two tokens,” Parth Chaturvedi, Crypto Ecosystem Lead, CoinSwitch told Gadgets 360.

The overall crypto market rose by 4.24 percent, however the market cap remained at a low of $857.16 billion (roughly Rs. 69,27,325 crore), as per CoinMarketCap.

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Stablecoins such as Tether, USD Coin, and Binance USD emerged among the loss-making cryptocurrencies today.

These were also joined by Tron, LEO, Terra, Dogefi, and Bitcoin Hedge among others.

“The traders are rushing to get ahead of the selling pressure. Apparently, the dynamics have risen to another level: 31 million Solana got unstacked at the end of the token lock-in period known as ‘Epoch 370' released today,” the CoinDCX research team told Gadgets 360.

Apple unveiled eight new products at its September 'Far Out' event. Which ones will float — and which will sink? 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.

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Cryptocurrency Prices across Indian exchanges

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Further reading: Cryptocurrency, Bitcoin, Ether, Binance Coin, Ripple, Cardano, Polygon, Polkadot, Solana, Dogecoin, Shiba Inu, Tether, USD Coin, Binance USD, Tron, Leo, Terra, Dogefi, Bitcoin Hedge

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