Bitcoin, Ether Clock Small Gains Alongside Solana, Cardano as Most Altcoins Bag Profits

Bitcoin on Wednesday saw a profit of 2.33 percent, which took its trading value to $63,815 (roughly Rs. 53.3 lakh), as per the crypto price tracker by Gadgets360.

Written by Radhika Parashar, Edited by Manas Mitul | Updated: 17 April 2024 12:00 IST

Bitcoin, Ether Clock Small Gains Alongside Solana, Cardano as Most Altcoins Bag Profits

Photo Credit: Unsplash/ Jonathan Borba

The current crypto market cap stands at $2.33 trillion

Highlights

While Shiba Inu saw profits, Dogecoin clocked losses
Chainlink, Polygon, Litecoin reflected small gains
Bitcoin Cash, Leo witnessed price dips

The crypto market seems to be experiencing a period of relative stability, with fewer fluctuations. Bitcoin on Wednesday saw a profit of 2.33 percent, which took its trading value to $63,815 (roughly Rs. 53.3 lakh), as per the crypto price tracker by Gadgets360. In the last 48 hours, Bitcoin's India value has risen by $918 (roughly Rs. 76,800). Meanwhile, the crypto asset is trading at a slightly higher price point on international exchanges. On Binance, for instance, Bitcoin's current price stands at $65,037 (roughly Rs. 54.4 lakh).

“Bitcoin price is now trading below $65,000 (roughly Rs. 54.3 lakh) after a bearish daily close,” Shivam Thakral, CEO of BuyUcoin, told Gadgets360. “After its fourth halving, which is scheduled in the next two days, we can expect a retest of the $73,000 (roughly Rs. 61 lakh) resistance,” he added.

Ether on Wednesday reflected a profit of 2.49 percent. In India, the trading value of ETH is presently hovering over the mark of $3,108 (roughly Rs. 2.60 lakh). On Binance, ETH is trading at $3,516 (roughly Rs. 2.9 lakh).

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“The price of Ether is on the rise, signalling a potential shift in focus back to the Ethereum ecosystem. Several factors contribute to this positive momentum, including a surge in whale activity, growing institutional interest in Bitcoin, and a general improvement in the broader crypto market,” the ZebPay Trade Desk told Gadgets360.

Most cryptocurrencies joined BTC and ETH on the profit-making side of the crypto chart on Wednesday. These include Solana, Cardano, Ripple, Shiba Inu, Avalanche, Tron, and Polkadot.

Chainlink, Polygon, Litecoin, Near Protocol, and Uniswap also managed to bring in minor gains.

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As per CoinMarketCap, the crypto market valuation rose by 2.34 percent in the last 24 hours to hit the valuation of $2.33 trillion (roughly Rs. 1,95,05,292 crore).

Losses, meanwhile, struck Tether, Binance Coin, Dogecoin, Bitcoin Cash, and Leo on Wednesday.

“With Bitcoin already reaching new highs, a correction around the halving is anticipated. Despite this, the market sentiment remains optimistic, with growing demand for spot ETFs suggesting a sustained bull market post-halving,” Edul Patel, CEO of Mudrex, told Gadgets360.

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Cryptocurrency Prices across Indian exchanges

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Further reading: Cryptocurrency, Bitcoin, Ether, Qutm, Wrapped Bitcoin, Zcash, Tether, USD Coin, Ripple, Binance USD, Binance Coin, Cardano, Polygon, Solana, Polkadot, Dogecoin, Shiba Inu, Litecoin, Uniswap, Tron, Monero, Dash, Bitcoin Cash, Flex, Cartesi, Braintrust, Kishu Inu, Circuits of Value

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