Crypto prices have slipped a little over the weekend, with Dogecoin, Bitcoin, and Ether all down. An announcement that Walmart would be accepting Litecoin, which turned out to be fake, created a lot of confusion, and hurt the prices of different coins. Bitcoin prices still held above $45,000 at the time of writing, and more experts are predicting a big upswing for it over the remaining months of 2021. If that happens, the rest of the market will likely be buoyed along as well, as we saw at the start of the year.
The value of Bitcoin price in India on Monday slipped by 3.35 percent. The cryptocurrency is trading at Rs. 36,44,325. Previously, the currency had closed trading at Rs. 37,70,785 indicating that in the last 24 hours, Bitcoin has shrunken substantially with a fresh value difference of over Rs. 1 lakh, as per the Gadgets 360 Bitcoin Price History tracker.
Ethereum price in India, which is currently at Rs. 2,56,011, has also witnessed a slip of 4.82 percent. The cryptocurrency had closed at Rs 2,68,975 – and has gone down in value by over Rs. 12,000.
And Dogecoin price in India, which was riding on the value of Rs. 20 last week, has again slipped down significantly by 5.76 percent. The Elon Musk-supported cryptocurrency is priced at Rs 17.86 in India as we write this.
On the other hand, cryptocurrencies like Tether and USD Coin have gained value by 1 percent each and are trading at Rs. 79.89 each as well.
Cryptocurrency trading and transactions are picking momentum around the world, despite anti-crypto voices questioning the legibility of these digital currencies. Last week, the President of the European Central bank, Christine Lagarde had said that she does not consider cryptocurrencies as real.
Statistics platform CompareCamp on the other hand has recently reported that there are over 350,000 Bitcoin transactions daily, with an average of 14,904 every hour, or four transactions per second.
Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.