A big number of cryptocurrencies that recorded value dips one day ago, reeled-in gains stepping into Tuesday, February 7. The value of Bitcoin, at the time of writing, stood at $22,864 (roughly Rs. 18.9 lakh). The world’s first ever cryptocurrency managed to mint profits lesser than one percent on both, national as well as international exchanges like Binance and Coinbase among others. In terms of its value, BTC managed to rise merely by $4 (roughly Rs. 330) in the last 24 hours, making for its smallest daily fluctuation since the beginning of this year so far.
Ether twiddled behind Bitcoin to record miniscule gains. With a hike of 0.63 percent, ETH is trading at the price point of $1,632 (roughly Rs. 1.35 lakh), as per Gadgets 360’s crypto price tracker.
“Bitcoin has been trading within a narrow range, having witnessed a decrease of 2.77 percent over the past week. Its support level is currently at $22,800 (roughly Rs. 18.86 lakh), with resistance at $23,150 (roughly Rs. 19.1 lakh). Ethereum has also fallen two percent in the last day but remains above $1,600 (roughly Rs. 1.32 lakh). The low volume suggests a lack of bullish activity in the market,” Edul Patel, the CEO of Mudrex crypto investment firm told Gadgets 360.
Tether, Binance Coin, USD Coin, Binance USD, and Polygon — all recovered from yesterday’s tumble with minor profits.
Litecoin, Avalanche, Tron, Wrapped Bitcoin, and Monero recorded small profits as well.
The overall crypto market cap rose by 0.09 percent in the last 24 hours. The crypto market cap, at the time of writing is, $1.06 trillion (roughly Rs. 88,04,827 crore), as per CoinMarketCap.
The small overall gain in the crypto market cap comes in the backdrop of several cryptocurrencies still reeking of losses.
Ripple, Cardano, Solana, and Polygon recorded losses on Tuesday.
Both meme coins Shiba Inu and Dogecoin also settled with losses.
Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.
