Crypto Price Today: Bitcoin, Ether Continue Bull Run, Most Altcoins See Profits over Losses

In the last 24 hours, Bitcoin has managed to register a price hike of $2,002 (roughly Rs. 1.66 lakh).

Written by Radhika Parashar, Edited by Siddharth Suvarna | Updated: 6 December 2023 12:33 IST

Crypto Price Today: Bitcoin, Ether Continue Bull Run, Most Altcoins See Profits over Losses

Photo Credit: Reuters

The overall crypto market cap stands at $1.6 trillion for the first time in almost two years

Highlights

Tether, Ripple trading in profits
USD Coin, Binance USD also spiked in prices
Losses have hit Uniswap

Bitcoin on Wednesday, December 6 saw its price rise significantly over the last day. With a gain of 4.33 percent, Bitcoin is currently trading at the price point of $43,740 (roughly Rs. 36.4 lakh). This is now Bitcoin's highest price point in the last 19 months. In the last 24 hours, Bitcoin has managed to register a price hike of $2,002 (roughly Rs. 1.66 lakh). Market analysts have predicted that Bitcoin is set to wrap up the year of 2023 on an ‘extremely high note'.

Ether also continued its journey up the price ladder today. With a profit of 1.65 percent, ETH currently trading at $2,268 (roughly Rs. 1.90 lakh). Ether managed to grow in value by $40 (roughly Rs. 3,334). Meanwhile, Ethereum has grown by 11 percent over the past week

“Wall Street giants like BlackRock, Fidelity, and Franklin Templeton are trying to list bitcoin ETFs in the US and this is driving the FOMO factor in the market. If the current momentum continues, Bitcoin is well positioned to touch the $100,000 (roughly Rs. 83.3 lakh) mark by the end of 2024, as predicted by banking giant, Standard Chartered,” Shivam Thakral, CEO of BuyUcoin told Gadgets360 while commenting on the market situation.

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Tether, Ripple, Solana, Cardano, Tron, and Chainlink are all trading in profits. Polygon, Litecoin, Polkadot, Shiba Inu, Bitcoin Cash, Cosmos, Stellar, and Near Protocol, are also trading in the greens today.

The overall crypto market cap stands at $1.6 trillion for the first time in almost two years. It rose by 2.98 percent in the last 24 hours, as per CoinMarketCap.

“This price movement could be a result of increased interest by institutional investors and the general bullish sentiment in the market regarding 2024. Interestingly, this coincides with BlackRock reporting to the SEC that they received the seed funding for its spot Bitcoin ETF in October 2023,” Edul Patel,Co-Founder & CEO, Mudrex told Gadgets360.

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At this point, only a handful of cryptocurrencies are trading in the losses today. These include Binance Coin, Wrapped Bitcoin, Uniswap, and Elrond.

“The DeFi total value locked has also reached its 6-month high, according to DefiLlama. The total DeFi TVL across protocols has crossed $50 billion (roughly Rs. 4,16,728 crore) majorly as investors continue to deposit more money into smart contract protocols,” the CoinSwitch Markets Desk told Gadgets360.

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Cryptocurrency Prices across Indian exchanges

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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