Bitcoin Soars Over $24,700, Stablecoins Suffer Small Losses: Details
Most cryptocurrencies rallied on Tuesday, March 15 after consumer-level inflation appeared to slow, according to the latest data published by US regulators. Bitcoin rallied 1.48% to trade at $24,741 (approximately Rs 20.3) on Tuesday. The oldest cryptocurrency is getting closer to the $25,000 mark (about Rs 20.5) on both national as well as international exchanges. In the past 24 hours, BTC has increased in price by $395 (approximately Rs 32,525).
ether achieved a slight increase of 1.81 percent, which continues to follow Bitcoin on its orbit. At the time of writing, ETH is trading at $1,704 (about Rs 1.4 lakh) according to Gadgets 360’s Cryptocurrency price tracker.
“These positive movements indicate that there is a bullish activity in the market,” Edul Patel, CEO of Mudrex, told Gadgets 360.
The majority of popular cryptocurrencies have recorded gains in BTC and ETH.
Including Binance Coins, polygon, solana, polka dotsAnd Litecoin.
dogecoin And Shiba Inu also make small profit keeping green on crypto price chart.
“According to the latest data, US consumer inflation has slowed but remains higher, which may prompt the Fed to continue its hawkish stance. If the macroeconomic factors continue to remain favorable then we could see Bitcoin test $30,000 (approximately Rs 24.7 lakh) soon,” said Shivam Thakral, CEO of the exchange. Cryptocurrency BuyUcoin told Gadgets 360.
Total crypto market capitalization has increased 1.81% in the past 24 hours. The total valuation of the sector currently stands at $1.1 trillion (approximately Rs 1,10,009) according to CoinMarketCap.
While most cryptocurrencies have skyrocketed, stablecoins have recorded setbacks.
fastener, USDAnd Binance US Dollar – all losses are recognized.
Cardano, Tron, coinAnd dash joined stablecoins on the losing side of the crypto chart.
Speaking to Gadgets 360, WazirX Vice President, Rajagopal Menon, issued a warning that the crypto market could still see some performance volatility in the coming days.
“Small and medium financial institutions will now be subject to more scrutiny from regulators. This can create temporary uncertainty for fiat on viral services for crypto companies. Asian and European markets could be more cautious and introduce legislation to expose banks to small tech companies as well as crypto businesses,” Menon said, expanding on the possible consequences. occurrence of the financial crisis. fall of three crypto-friendly banks last week in the United States.
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.