Bitcoin, Ether record losses as overall crypto market valuation drops 1.12%

A day after the majority of cryptocurrencies recorded gains and crypto market valuations increased by more than three percent, the price chart of cryptocurrencies is once again affected by volatility. Bitcoin on Thursday, opened with a loss of almost one percent. At the time of writing, BTC is trading at $17,716 (approximately Rs 14.6 lakh). The world’s most popular cryptocurrency also saw small price declines on international exchanges. According to Binance and CoinMarketCap, BTC is trading at $17,734 (about Rs 14.4 lakh).

ether recorded a slightly larger loss than Bitcoin. With a 2.35% drop, ETH is currently trading at $1,291 (about Rs 1.06 lakh), indicating Cryptocurrency price tracker by Gadgets 360.

Along with altcoins, stablecoins pegged to the US dollar also suffered losses.

fastener, USD, Binance Coins, Ripple, Cardano, polygon, polka dotsand Litecoin – all the discounts witnessed.

Dogecoin and Shiba Inu also broke out of their bullish spell to see their value drop on Thursday.

The overall crypto market valuation has dropped 1.12% in the past 24 hours. The current crypto market cap is $861.07 billion, according to CoinMarketCap.

Including solana, Tron, Zcashand Bend.

After the collapse of the FTX cryptocurrency exchange, a large part of the global investor community withdrew from the cryptocurrency sector.

One recent report, Organization for Economic Co-operation and Development (OECD) explains why the cryptocurrency market capitalization failed to recover. The OECD has said that institutional investors have been quick to exit the crypto market amid the slump compared with retail investors.

Last year, around the holiday season in December, the crypto market recorded a profit as more people preferred to give gifts. crypto gifts, especially in the US. This year, the holiday spirit has yet to have the same effect on the crypto sector.

Cryptocurrency is an unregulated digital currency that is not legal tender and subject to market risk. The information provided in the article is not intended and does not constitute financial advice, trading advice or any other advice or recommendation of any kind provided or endorsed by NDTV. NDTV will not be liable for any loss arising from any investment based on any recommendations, forecasts or any other information contained in the article.

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