BTC, ETH Impacted by Small Losses, Crypto Price Charts Show Profits for Underdog Altcoins

With the minuscule loss of 0.39 percent, BTC has been trading at the price point of $16,973 (roughly Rs. 13.9 lakh).

Written by Radhika Parashar, Edited by Siddharth Suvarna | Updated: 6 December 2022 10:57 IST

BTC, ETH Impacted by Small Losses, Crypto Price Charts Show Profits for Underdog Altcoins

Photo Credit: Unsplash

Crypto market valuation stands currently at $852 billion

Highlights

Dogecoin saw losses
Shiba Inu witnessed gains
Braintrust reeled-in profits

Bitcoin on Tuesday, December 6, opened with the minuscule loss of 0.39 percent to trade at the price point of $16,973 (roughly Rs. 13.9 lakh). BTC also failed to break out of the price mark of $17,000 (roughly Rs. 14 lakh) on international exchanges such as Coinbase and Binance as well. BTC has been showing a range-bound movement for at nearly over a month now. The crypto price charts, for the longest times, have not been able to reflect a streak of profits or losses.

Ether followed Bitcoin to trade in losses. After a value dip of 1.40 percent, ETH opened trading on Tuesday at the price point of $1,258 (roughly Rs. 1.03 lakh). Like BTC, ETH has also not been able to see a substantial hike in its price.

Among other loss-making cryptocurrencies, Binance Coin, Cardano, Polygon, Polkadot, Solana, Uniswap, and Avalanche.

ByBit Crypto Exchange to Cut Staff by 30 Percent as Market Slump Sees No End

Interestingly, while Dogecoin settled with losses, Shiba Inu saw gains, in a rather unconventional turn of events.

Other cryptocurrencies that managed to get profits today include underdogs such as Monero, Zcash, Iota, Neo Coin, and Braintrust among others.

Some stablecoins, such as Tether and USD Coin also reeled-in small value hikes, retaining greens on the price charts.

ByBit Crypto Exchange to Cut Staff by 30 Percent as Market Slump Sees No End

The overall crypto market declined by 1.38 percent in the last 24 hours to presently stand at $852 billion (roughly Rs. 70,15,818 crore).

As the crypto market is showing no signs of jumping back to a substantial recovery anytime soon, more and more crypto platforms are trying to regain the trust of investors following the collapse of the FTX exchange.

KuCoin, Binance, Giottus, and CoinDCX are among crypto exchanges, that are getting their proof-of-reserves audited and verified.

In light of the currently prevailing, rather negative market sentiment, Vitalik Buterin has advised people to focus on advancing the technology and take a break from investor circles.

I'd recommend increasing your distance from trading/investing circles, and getting closer to the tech and application ecosystem. Learn about ZK-SNARKs, visit a meetup in Latin America, listen to All Core Devs calls and read the notes until you've memorized all the EIP numbers...
— vitalik.eth (@VitalikButerin) December 3, 2022

Buterin is the co-founder of Ethereum.

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Cryptocurrency Prices across Indian exchanges

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Further reading: Cryptocurrency, Bitcoin, Ether, Binance Coin, Cardano, Polygon, Polkadot, Solana, Uniswap, Avalanche, Dogecoin, Shiba Inu, Monero, Zcash, Iota, Neo Coin, Braintrust

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