Most major cryptocurrencies have seen small drops over the last 24 hours, although there are a few standouts that are still growing. A longer trend for tokens like Bitcoin is still positive although we're still quite far from the highs in May. The recent drops might be linked to things like the fake news that Walmart was going to accept Litecoin — while this was quickly denied by all official sources, in a short period, the damage was done with a sudden price rise and an equally sudden drop.
Bitcoin, the world's largest cryptocurrency by market capitalisation, on Friday slipped by 0.65 percent in the last 24 hours, but this is still up from earlier this week, according to the Gadgets 360 Bitcoin Price History tracker. Bitcoin price in India was Rs. 37,23,736 at the time of writing this.
Ethereum price in India also dropped 2.84 percent, trading at Rs. 2,77,586. Although Ethereum has faced some challenges of late, it remains the most popular blockchain for use in NFTs which has certainly helped its value.
Dogecoin price in India, on the other hand, is up by 5.25 percent with its value crossing Rs. 20 again. In addition, Tether (USDT) is also up by +0.34 percent and is now trading at Rs. 78.32. As a stablecoin pegged to the US Dollar, Tether's price, of course, is not as volatile as other cryptocurrencies.
Meanwhile, Uniswap Price has sunk by 5.21 percent and is trading at Rs. 2,020.76.
Cryptocurrency trading is picking pace around the world. Earlier this month, AMC Theatres said that it will accept Bitcoin for online ticket and concession payments, and similarly accept other cryptocurrencies like Ethereum, Litecoin, and Bitcoin Cash, which is likely to have a positive effect on the sentiment around crypto.
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.