Bitcoin, the world’s largest cryptocurrency by market cap, has been surprisingly rough over the past few weeks but has seen enough runs in green to start the week on a positive note. Bitcoin’s valuation has fallen more than 14 percent in the past few weeks, but the 4 percent gain on Sunday saw the cryptocurrency valued at ভারতীয় 52,601 (approximately Rs 39.71 lakh) on the Indian exchange Coinswitch Kuber, down 0.45 percent in the last 24 hours. Global exchanges like CoinMarketCap, meanwhile, the world’s most popular cryptocurrency have lost 0.59 percent to $ 49,115 (about Rs 37.08 lakh).
Bitcoin’s performance has been poor over the past few weeks, but Ether has suffered as much despite a 4 percent decline last week. Ether’s valuation has fallen 0.8 percent in the past 24 hours on a positive weekend but the second most popular cryptocurrency has managed a much better recovery from the crash on Black Friday than Bitcoin. At the time of release, Coinswer Kuber Ether was priced at $ 4,299 (approximately Rs. 3.25 lakhs) whereas global exchange prices are দ্বিতীয় 4,025 (approximately Rs.
Gadgets 360’s cryptocurrency price tracker reveals that most popular altcoins have started the week on the back, despite a strong showing on Saturday and Sunday.
While Tether, Polygon, Cardano, Ripple and Uniswap all show nominal price declines, Polkadot is the only altcoin that has risen 4.92 percent in the last 24 hours.
As for meme coins, dozcoin has continued to decline, with the original dog coin depreciating nearly 3 percent in the past week. The DOGE is currently priced at $ 0.17 (about Rs 13.49), while the Shiva Inu is up 3.46 per cent at 00 0.000035 (around Rs 0.002664). Although the value of the SHIB has not been seen to turn green rapidly in the last month, cryptocurrency has enjoyed a lot of traction in mainstream adoption lately.
Cryptocurrency investors seem to be adopting a wait-and-see approach to large-cap cryptocurrencies, which has turned out to be an inconvenient week for large tokens. For almost all major tokens, we noticed that the sale began last Wednesday after a congressional meeting between the CEO of the original cryptocurrency and US lawmakers to discuss the possibility of controlling the cryptocurrency market. Some major currencies saw a positive rise over the weekend, with Prime Minister Narendra Modi’s Twitter handle briefly hacked on Sunday, and a tweet claiming that India had “officially accepted Bitcoin as a legal tender” was removed from it. The prime minister’s office later confirmed that the account had been secured immediately after the matter was raised on Twitter.
The tweet, posted after Prime Minister Modi’s personal handle was hacked in a matter of hours, further claimed that India had officially bought 500 bitcoins and distributed them among its residents and shared a link, telling people to hurry up.
Prime Minister Narendra Modi on Friday said that emerging technologies like cryptocurrency should be used to strengthen democracy and should not be undermined.
Cryptocurrency is an unregulated digital currency, with no legal tender and is subject to market risk. The information contained in the article is not intended to constitute financial advice, trading advice or any kind of advice or recommendation provided or approved by NDTV. NDTV will not be liable for any loss arising out of any investment based on any perceived recommendations, forecasts or other information contained in the article.