BTC, ETH Reel-In Profits, Most Altcoins See Gains for Second Consecutive Day

Bitcoin opened with a profit of 0.18 percent to trade at the price point of $16,693 (roughly Rs. 13.8 lakh).

Written by Radhika Parashar, Edited by Siddharth Suvarna | Updated: 4 January 2023 11:05 IST

BTC, ETH Reel-In Profits, Most Altcoins See Gains for Second Consecutive Day

Photo Credit: Unsplash/ Art Rachen

The market cap of cryptocurrencies stands at the mark of $818 billion

Highlights

DOGE, SHIB saw gains
Wrapped Bitcoin, Chainlink saw profits
Iota, Baby Dogecoin saw losses

The crypto price charts reflected greens next to most cryptocurrencies on Wednesday, January 4. Bitcoin opened with a profit of 0.18 percent to trade at the price point of $16,693 (roughly Rs. 13.8 lakh). In the last 24 hours, BTC value has grown by $25 (roughly Rs. 2,070). The oldest cryptocurrency, although stooped drastically low in its value in the last one year, has emerged as a powerful asset class since its inception in 2008. In fact, yesterday marked the 14th anniversary of Bitcoin's first ever block, called the Genesis block, being mined.

Ether price spiked by 1.52 percent as the asset stepped inside the trading arena. ETH, at the time or writing, held firm on the price point of $1,230 (roughly Rs. 1 lakh), showed the crypto price tracker of Gadgets 360.

Along with BTC and ETH, stablecoins such as Tether, USD Coin, Ripple, and Binance USD — rallied with profits.

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Binance Coin, Cardano, Polygon, Litecoin, Polkadot, and Solana reaped gains.

Greens, indicating profits shaded altcoins including Uniswap, Avalanche, Leo, Wrapped Bitcoin, Cosmos, and Chainlink.

Both the meme coins Dogecoin and Shiba Inu also opened with small but significant gains

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In the last 24 hours, the overall crypto market valuation grew by 1.60 percent. As per CoinMarketCap, the market cap of cryptocurrencies stands at the mark of $818 billion (roughly Rs. 67,83,252 crore).

Meanwhile, only a small number of altcoins settled with losses today.

These include Tron, Stellar, Elrond, Iota, and Baby Doge Coin.

The year of 2023 is expected to finetune the crypto industry with steadier participants that managed to survive the crypto winter, Dante Disparte, the chief strategy officer of Circle, the issuer of USD Coin said recently.

In the first week of January 2023, Morocco joined Italy and the UK in announcing important developments around the crypto rules.

While Italy levied a 26 percent tax on crypto gains, Morocco has entered the phase of discussions with industry players and stakeholders.

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.

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Cryptocurrency Prices across Indian exchanges

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Further reading: Cryptocurrency, Bitcoin, Ether, Tether, USD Coin, Ripple, Binance USD, Binance Coin, Cardano, Polygon, Polkadot, Litecoin, Solana, Uniswap, Avalanche, Leo, Wrapped Bitcoin, Cosmos, Chainlink, Dogecoin, Shiba Inu, Tron, Stellar, Elrond, Iota, Baby Doge Coin

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