BTC Touches $17,000 With Minor Gains; ETH, DOGE, SHIB Follow Suit
The crypto price charts sparkled in greens on Monday, December 5, with more coins registering profits than losses. With small gains of 1.39 percent, Bitcoin opened trading today at the price point of $17,221 (roughly Rs. 13.99 lakh). Similarly microscopic gains also added small values to BTC prices on international exchanges. As reflected on Coinbase, CoinMarketCap, and Binance among other foreign exchanges, BTC gained as much as two percent to maintain its price over the mark of $17,000 (roughly Rs. 13.80) internationally as well.
Ether registered slightly bigger profits than BTC. With a price hike of 2.30 percent, ETH is currently trading at $1,288 (roughly Rs. 1.04 lakh).
Among other cryptocurrencies that stepped into the second week of December with gains, Dogecoin and Shiba Inu joined Binance Coin, Cardano, Polygon, Polkadot, and Litecoin.
Gains also came to Solana, Uniswap, Avalanche, Chainlink, and Leo.
The overall crypto market grew by 1.40 percent in the last 24 hours to attain the valuation of $864 billion (roughly Rs. 70,25,994 crore).
“The broader crypto market has improved over the past week as most cryptocurrencies traded in the green, wiping their weekly losses. With more clarity emerging on the extent of damage caused by FTX’s collapse, the crypto market may recover and pick up the stream. Until then, the bullish price action might be limited,” Edul Patel, the CEO and co-founder of Mudrex told Gadgets 360.
Only a small number of cryptocurrencies settled with losses today.
They include stablecoins such as Tether, USD Coin, Binance USD, and Ripple.
Tron, Monero, Bitcoin Cash, and Elrond also netted losses.
The crypto market, despite constant ups and downs, has continued to show growth.
Many nations around the world are now drafting laws to regulate crypto and make the sector safer for investors to experiment in.
Italy, for instance, has recently proposed to levy a 26 percent tax on crypto profits exceeding over $2,000 (roughly Rs. 1.62 lakh) in a crypto-focussed bill, that is in line to get approvals from higher Italian authorities.
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.