Bitcoin, Ether Continue Upward Trajectory as Most Cryptocurrencies Record Profits: All Details

Bitcoin opened trading with a small gain of 2.58 percent, taking its price to $23,071 (roughly Rs. 18.8 lakh).

Written by Radhika Parashar, Edited by David Delima | Updated: 24 January 2023 11:12 IST

Bitcoin, Ether Continue Upward Trajectory as Most Cryptocurrencies Record Profits: All Details

Photo Credit: Pixabay/ Dean Crosby

The current crypto market valuation stands at $1.06 trillion

Highlights

Tron, Uniswap saw gains on Tuesday
DOGE, SHIB both recorded profits
Zcash settled with losses

Bitcoin opened trading with a small gain of 2.58 percent on Tuesday, while most cryptocurrencies recorded profits, indicating a healthy recovery for these highly speculative digital assets. The trading value of the world's most popular cryptocurrency stands at $23,071 (roughly Rs. 18.8 lakh). In the last 24 hours, BTC grew by $355 (roughly Rs. 28,990) in terms of value — on both national as well as international exchanges. With the top-most crypto rallying with profits, majority cryptocurrencies have risen out of their respective slumps as the recovery from last year's crypto meltdown continues.

Ether jumped 1.20 percent in value on Tuesday. The second most-valued cryptocurrency is trading at $1,638 (roughly Rs. 1.33 lakh), as per Gadgets 360's crypto price tracker.

Stablecoins such as Tether, USD Coin, Ripple, and Binance USD higher up the crypto ladder, alongside Cardano, Solana, Polygon, and Polkadot also recorded profits on Tuesday.

[Sponsored] Samsung Galaxy S24: The Ultimate Camera Phone With Smarter On-Device AI

Both memecoins — Dogecoin and Shiba Inu also continued their profit streaks. A Nansen report has recently claimed that Shiba Inu, that is priced $0.000012 (roughly Rs. 0.000991), is the top investment choice for starter investors. Meanwhile, Dogecoin is currently priced at $0.090 (roughly Rs. 7.32).

Litecoin, Avalanche, Tron, Uniswap, and Wrapped Bitcoin and other altcoins saw their values rise.

In the last 24 hours, the overall crypto market cap rose by 1.33 percent to the valuation of $1.06 trillion (roughly Rs. 86,42,933 crore) as per CoinMarketCap.

Ethereum to Bring Privacy Features for Blockchain Transactions

“In token specific action, SOL continues to enjoy strong gains (up >20 percent), after the major slump in prices post FTX fallout. The latest pump can be attributed to Electric Capital's Developer report, that highlights Solana ecosystem's builder strength. Crucially, BTC and ETH are trading around the crucial support levels despite Genesis declaring bankruptcy and tech majors like Google and Microsoft announcing mass layoffs. The strongest gains last week were witnessed in metaverse themed tokens MANA (up by 60 percent) and SAND (up 33 percent), following the news that Apple will release a VR/AR headset this spring,” Parth Chaturvedi, Crypto Ecosystem Lead, CoinSwitch told Gadgets 360.

Some altcoins saw losses on Tuesday, including Cosmos, Near Protocol, EOS Coin, Zcash, and Kishu Inu.

Will crypto tax hurt the industry in India? 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 X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.

Further reading: Cryptocurrency, Bitcoin, Ether, Avalanche, Dogecoin, Shiba Inu, Cardano, Polygon, Polkadot, Tron, Uniswap, Cosmos, Chainlink, Monero, Tether, USD Coin, Binance USD, Solana, Litecoin, Wrapped Bitcoin, EOS Coin, Kishu Inu, Zcash

Radhika Parashar

Email Radhika

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