Bitcoin, Ether Witness Small Gains, Stablecoins Stumble with Dips

Bitcoin grew by 1.62 percent to be at the price point of $23,260 (roughly Rs. 19.2 lakh).

Written by Radhika Parashar, Edited by Siddharth Suvarna | Updated: 8 February 2023 11:37 IST

Bitcoin, Ether Witness Small Gains, Stablecoins Stumble with Dips

Photo Credit: Unsplash/ Jonathan Borba

The global crypto market cap stands at $1.09 trillion

Highlights

Dogecoin, Shiba Inu saw profits
Cardano recorded gains
Dogefi was struck with losses

The cryptocurrency price chart reflected tiny profits next to majority cryptocurrencies on Wednesday, February 8. Bitcoin grew by 1.62 percent to be at the price point of $23,260 (roughly Rs. 19.2 lakh). The cryptocurrency showed a similar market movement on international exchanges like CoinMarketCap and Binance among others. In the past 24 hours, the oldest crypto asset has risen by $396 (roughly Rs. 32,730). Bitcoin's price range recorded a decrease of 2.77 percent in the last few days. Experts have noted that BTC's resistance currently stands at the mark of $23,150 (roughly Rs. 19.1 lakh).

Ether saw a 2.75 percent spike in its value on Wednesday. The price of ETH, at the time of writing, stood at $1,678 (roughly Rs. 1.38 lakh), showed the crypto price tracker by Gadgets 360.

Binance Coin, Cardano, Polygon, Solana, and Polkadot emerged as gainers alongside BTC and ETH.

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Dogecoin and Shiba Inu, both the memecoins, reeled-in profits today along with Litecoin, Tron, Uniswap, and Cosmos.

The overall crypto market valuation grew by 2.26 percent in the last 24 hours. As per CoinMarketCap, the global crypto cap is valued at $1.09 trillion (roughly Rs. 89,97,764 crore).

Stablecoins meanwhile, stumbled down the price charts amid majority altcoins registering profits.

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Tether, Binance USD, and USD Coin — all opened with small but substantial losses.

Cronos, Circuits of Value, Dogefi, and Bitcoin Hedge also settled with losses.

The digital assets sector has been expanding its roots around the world. The UK for instance, is experimenting with the digital version of pound sterling called the ‘Britcoin'.

In India, crypto companies like CoinDCX and Mudrex have already flagged off crypto awareness programmes and blockchain development initiatives in the most populated nation in the world.

With this boom in the Web3 ecosystem, the Interpol organisation has also begun to explore ways to tackle crimes in the metaverse arena.

Samsung's Galaxy S23 series of smartphones was launched earlier this week and the South Korean firm's high-end handsets have seen a few upgrades across all three models. What about the increase in pricing? We discuss this and more 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, Cardano, Solana, Polygon Polkadot, Dogecoin, Shiba Inu, Litecoin, Tron, Uniswap, Cosmos, Tether, Binance USD, USD Coin, Cronos, Circuits of Value, Dogefi, Bitcoin Hedge

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