BTC, ETH Record Minor Price Spikes, Most Altcoins Register Significant Profits

Bitcoin grew by 2.09 percent to trade at the price point of $24,920 (roughly Rs. 20 lakh).

Written by Radhika Parashar, Edited by Siddharth Suvarna | Updated: 21 February 2023 11:34 IST

BTC, ETH Record Minor Price Spikes, Most Altcoins Register Significant Profits

Photo Credit: Unsplash/ Jonathan Borba

The crypto market cap currently stands at $1.13 trillion

Highlights

Polkadot, Avalanche saw gains
Tron, Leo recorded profits
Kishu Inu, Doge Killer recorded losses

The crypto price charts reflected profits next to most cryptocurrencies on Tuesday, February 21. Bitcoin grew by 2.09 percent to trade at the price point of $24,920 (roughly Rs. 20 lakh). The oldest, most expensive cryptocurrency followed a similar trajectory on international exchanges such as Binance and CoinMarketCap to trade at the same price point. In the last 24 hours, the value of Bitcoin has risen by $664 (roughly Rs. 54,950) and experts predict its next resistance is likely to be at $31,000 (roughly Rs. 25.6 lakh).

Ether tailed behind Bitcoin on the gain trail. With a small gain of 1.14 percent, ETH took its value to $1,703 (roughly Rs. 14 lakh), as per Gadgets 360's crypto price tracker.

Stablecoins Tether, USD Coin, Ripple, and Binance USD recorded gains.

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They were joined by other popular altcoins such as Cardano, Solana, Polkadot, Avalanche, and Uniswap on the profit-making side of the price chart.

Dogecoin and Shiba Inu, both the memecoins reeled-in gains.

As per CoinMarketCap, the global crypto market valuation rose by 1.03 percent in the last 24 hours. At the time of writing, the crypto market cap stood at $1.13 trillion (roughly Rs. 93,42,500 crore).

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Among loss-making cryptocurrencies, Binance Coin, Polygon, Litecoin, Tron, LEO, and Monero marked their presence.

Circuits of Value, Flex, Husky, Kishu Inu, and Doge Killer also settled with price slips.

In recent times, the outlook towards cryptocurrencies as a quick money-making instrument has drastically changed for the better, Edul Patel, the CEO and co-founder of crypto investment firm Mudrex tod Gadgets 360 in an exclusive interaction.

“Cryptocurrencies are no longer being seen like a lottery ticket. Instead, investors have begun seeing crypto assets as long-term investment tools. Instead of purchasing crypto assets in bulk, individual as well as institutional investors have regularised their purchases and broken them up into smaller sizes. The global level regulations around crypto that India is working on along with other G20 nations, could benefit the overall industry-consumer relation for the long run, even if it looks like a time-consuming effort for now,” Patel noted.

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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.

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Cryptocurrency Prices across Indian exchanges

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Further reading: Cryptocurrency, Bitcoin, Ether, Tether, USD Coin, Ripple, Binance USD, Cardano, Solana, Polkadot, Avalanche, Litecoin, Dogecoin, Shiba Inu, Binance Coin, Polygon, Tron, Leo, Monero, Circuits of Value, Flex, Husky, Kishu Inu, Doge Killer

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