Majority Cryptocurrencies Take a Dip; Binance Coin, Polygon Emerge Among Few Gainers

On a global level, BTC is trading at around $19,199 (roughly Rs. 15.70 lakh).

Written by Radhika Parashar, Edited by Abhinav Lal | Updated: 3 October 2022 11:00 IST

Majority Cryptocurrencies Take a Dip; Binance Coin, Polygon Emerge Among Few Gainers

Photo Credit: Pixabay/ Worldspectrum

The crypto markep valuation currently stands at $927.52 billion

Highlights

Tether, Ripple saw losses
Dogecoin, Shiba Inu also impacted by price drops
Tron gained value

The red-drenched crypto price charts, indicated on Monday, October 3, that the digital assets sector was stepping into a new month impacted by volatility. With a loss of nearly one percent, Bitcoin opened trading on Monday at the price point of $19,183 (roughly Rs. 15.60 lakh), as per Gadgets 360's crypto price tracker. Losses also struck Bitcoin on international exchanges. As indicated by Binance and CoinMarketCap, BTC values slipped by around 0.90 percent. On a global level, BTC is trading at around $19,199 (roughly Rs. 15.70 lakh).

“Bitcoin failed to hold above the $20,000 (roughly Rs. 16 lakh) level last week due to a lack of buying activity. The volatility in BTC has increased in recent weeks, as the market participants reacted to the rising inflation and fluctuations in the US dollar,” Edul Patel, CEO and co-founder of Mudrex crypto investment platform told Gadgets 360.

Ether recorded slighted higher losses than Bitcoin. As per Gadgets 360's crypto price tracker, ETH is current trading at the price point of $1,292 (roughly Rs. 1.05 lakh).

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Most altcoins, including Tether, Ripple, Binance USD, Cardano, and Solana recorded price dips.

Dogecoin and Shiba Inu also failed to cut through the market slowdown and settled with losses.

“If BTC can break above its resistance at $20,433 (roughly Rs. 16.60 lakh), we might see an upward trend this week,” Patel has projected.

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Meanwhile, only a handful of cryptocurrencies managed to see small gains.

These include Binance Coin, Polygon, Tron, and LEO.

Meanwhile, the market cap of the crypto sector continues to remain under the trillion-dollar mark.

With a 0.95 percent decrease over the last day, the crypto market valuation currently stands at $927.52 billion (roughly Rs. 75,63,501 crore).

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, Tether, Ripple, Binance USD, Cardano, Solana, Dogecoin, Binance Coin, Polygon, Tron, Leo

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