Crypto Price Today: Bitcoin Price Spikes to See More Profits, Small Losses Hit Ripple, Dogecoin

In the last 24 hours, the value of Bitcoin jumped up by $452 (roughly Rs. 37,664).

Written by Radhika Parashar, Edited by Siddharth Suvarna | Updated: 10 November 2023 12:10 IST

Crypto Price Today: Bitcoin Price Spikes to See More Profits, Small Losses Hit Ripple, Dogecoin

Photo Credit: Unsplash/ Art Rachen

The crypto market valuation stands at $1.4 trillion as of November 10

Highlights

Polygon, Polkadot saw gains
Litecoin, Shiba Inu also recorded profits
Losses struck Uniswap, Stellar

Bitcoin on Friday, October 10 reflected a small gain of 0.53 percent. While the gain percentage may look like a small one, it did take Bitcoin's trading value to $36,770 (roughly Rs. 30.6 lakh). In the last 24 hours, the value of Bitcoin jumped up by $452 (roughly Rs. 37,664). This hike in value marks Bitcoin's highest pricing in eighteen months. With the topmost cryptocurrency trading in profits, majority altcoins are entering their recovery phases.

“The wave of optimism towards Bitcoin spot ETF continues as the approval window for its commencement begins. While the approval itself can take place as predicted by analysts which can push the token price beyond $40,000 (roughly Rs. 33 lakh), it will be a while before ETFs get launched for the public,” Rajagopal Menon, Vice President, WazirX told Gadgets360 while commenting on the market situation.

Ether for instance, has been trading in profits for over a week now. On Friday, after gaining substantially by 10.69 percent, Ether value finally breached the mark of $2,000 (roughly Rs. 1.66 lakh). At the time of writing, ETH was trading at $2,115 (roughly Rs. 1.76 lakh).

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“In this volatile scenario, ETH demonstrated resilience, holding its position just below the $2,130 (roughly Rs. 1.76 lakh) resistance level and registering a noteworthy 10 percent gain within a day. This outperformance against BTC in the last 24 hours may be attributed to the news that BlackRock asset manager, officially filed for a Spot Ethereum ETF with NASDAQ. It's previously filed BTC spot ETF is pending approval,” the CoinDCX Research Team told Gadgets360.

Binance Coin, USD Coin, Solana, Cardano, Chainlink, and Polygon emerged among profit-making cryptocurrencies alongside BTC and ETH.

Tron, Polkadot, Litecoin, Shiba Inu, Avalanche, and Cosmos also managed to clock small gains.

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The overall crypto market cap rose by 2.30 percent in the last 24 hours. As per CoinMarketCap, the crypto market valuation stands at the mark of $1.4 trillion (roughly Rs. 1,16,59,102 crore).

“Tokens of ETH liquid staking platforms have observed a surge after news about BlackRock's plan to file for an ETH-based ETF became public. These tokens include LDO (+18.9 percent) and RPL (+21 percent),” Parth Chaturvedi, Investments Lead, CoinSwitch Ventures told Gadgets360.

Only a handful of cryptocurrencies recorded losses today. These include Ripple, Dogecoin, Bitcoin Cash, Leo, Stellar, and Uniswap.

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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