In the past 24 hours, the cryptocurrency market saw a 2.34 percent increase in valuation, reaching $2.33 trillion (approximately Rs 1,95,05,292 crore).
Following recent fluctuations, the crypto market appears to have attained a level of stability. According to Gadgets360’s crypto price tracker, Bitcoin (BTC) experienced a 2.33 percent increase on Wednesday, reaching a trading value of $63,815 (approximately Rs 53.3 lakh). Over the last 48 hours, the price of Bitcoin in India hovered around $918 (approximately Rs 76,800). Concurrently, crypto assets were trading at slightly higher prices on international exchanges. For instance, at the time of reporting, Bitcoin’s current price on Binance stood at $65,037 (approximately Rs 54.4 lakh).
Shivam Thakral, CEO of BuyUcoin, commented to Gadgets 360, “Following a daily bearish trend, Bitcoin’s price is now below $65,000 (approximately Rs 54.3 lakh). With its fourth halving approaching in the next two days, we may anticipate a retest of the $73,000 resistance level (about Rs 61 lakh).”
Ether showed a gain of 2.49 percent on Wednesday. In India, the trading value of ETH is currently above the $3,108 mark (approximately Rs 2.60 lakh). On Binance, ETH is trading at $3,516 (approximately Rs 2.9 lakh).
According to ZebPay Trade Desk, “Ether’s price is increasing, indicating a potential shift in focus within the Ethereum ecosystem. Several factors contributed to this positive momentum, including increased whale activity, growing institutional interest in Bitcoin, and a general improvement in the broader crypto market.”
On Wednesday, most cryptocurrencies saw gains, with BTC and ETH leading the way. Additionally, Solana, Cardano, Shiba Inu, Avalanche, Tron, and Polkadot also experienced marginal gains. According to CoinMarketCap, the crypto market valuation increased by 2.34 percent, reaching $2.33 trillion (about Rs 1,95,05,292 crore). Meanwhile, Tether, Binance Coin, Dogecoin, Bitcoin Cash, and Leo recorded losses on Wednesday.