Bitcoin, ETH Open With Losses, Most Altcoins Tag Along

The current value of BTC is hovering over the mark of $19,300 (roughly Rs. 15.96 lakh).

Written by Radhika Parashar, Edited by Siddharth Suvarna | Updated: 25 October 2022 11:45 IST

Bitcoin, ETH Open With Losses, Most Altcoins Tag Along

Photo Credit: Pixabay/ Dean Crosby

Total crypto market cap stands at $932.20 billion (roughly Rs. 77,10,769 crore)

Highlights

Polygon, Avalanche saw losses
Dogecoin, Shiba Inu also saw dips
Cardano saw profits

In the last 24 hours while India celebrated Diwali, one of its biggest annual festivals, Rishi Sunak became the Prime Minister of the UK. In the midst of festivities and upheaval in the global politics scenario, the crypto market seemingly saw more losses than gains on Tuesday, October 25. Bitcoin, the world's most expensive cryptocurrency, opened with a loss of 0.40 percent on Tuesday. As per the crypto price tracker by Gadgets 360, the current value of BTC is hovering over the mark of $19,300 (roughly Rs. 15.96 lakh).

Ether, quite conventionally, slipped down the price ladder by 0.89 percent. As per Gadgets 360's crypto price tracker, ETH is presently priced $1,340 (roughly Rs. 1.10 lakh).

Binance Coin, Ripple, Solana, Polygon, Avalanche, Uniswap, and Litecoin also saw dips.

Both memecoins DOGE and SHIB also dropped in values.

The global crypto market cap declined by 0.13 percent in the last 24 hours, as per CoinMarketCap. Its current valuation stands at $932.20 billion (roughly Rs. 77,10,769 crore).

Meanwhile, some cryptocurrencies did manage to see small profits despite the market volatility.

These include, Tether, USD Coin, Binance USD, Cardano, Polkadot, and Stellar.

In recent findings, a Google Trends report found out that the prolonged bear market situation in the crypto market, seems to have impacted people's interest levels in cryptocurrencies.

The keyword Bitcoin, for instance, has recorded its lowest ever search volumes in the last one year.

The fluctuations in the crypto industry has caused issues for many businesses in the sector.

Freeway, a crypto staking platform for instance, brought some of its services to a temporary halt citing market fluctuations.

In a bid to keep its business afloat, Freeway has stopped buy and withdrawal services on its platform. The company is working on drafting newer strategies that could make its operations more resistant to the volatile nature of crypto assets.

BTC and ETH had created their respective all-time highs last year in November. For now, the market situations do not show any signs of replicating last year's market movement and swelling in overall sector valuation.

Apple unveiled eight new products at its September 'Far Out' event. Which ones will float — and which will sink? 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, Binance Coin, Ripple, Solana, Polygon, Avalanche, Uniswap, Litecoin, Dogecoin, Shiba Inu, Tether, USD Coin, Binance USD, Cardano, Polkadot, Stellar

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