BTC, ETH Reel-In Gains, Most Altcoins See Gains For Second Consecutive Day

The crypto price charts reflected greens next to most cryptocurrencies on Wednesday, January 4. Bitcoin opened with a gain of 0.18 percent to trade at the price of $16,693 (approximately Rs. 13.8 lakh). In the past 24 hours, the value of BTC has grown by $25 (approximately Rs. 2,070). Although the oldest cryptocurrency has fallen drastically in value over the past year, it has grown into a powerful asset class since its introduction in 2008. In fact, yesterday marked the 14th anniversary of Bitcoin’s very first block, the Genesis block being mined.

The price of Ether rose 1.52 percent as the asset entered the trading arena. ETH, at the time of writing, was holding at $1,230 (approximately Rs. 1 lakh) price, Gadgets 360 crypto price tracker showed.

Along with BTC and ETH, stablecoins such as Tether, USD Coin, Ripple, and Binance posted USD gains.

Binance Coin, Cardano, Polygon, Litecoin, Polkadot and Solana posted gains.

Greens point to profit-shaded altcoins including Uniswap, Avalanche, Leo, Wrapped Bitcoin, Cosmos, and Chainlink.

Both meme coins Dogecoin and Shiba Inu also opened with small but significant gains

In the past 24 hours, the total value of the crypto market has grown by 1.60 percent. From CoinMarketCapthe market capitalization of cryptocurrencies stands at $818 billion (approximately Rs. 67,83,252 crore).

Meanwhile, only a small number of altcoins settled with losses today.

These include Tron, Stellar, Elrond, Iota, and Baby Doge Coin.

The year 2023 is expected to refine the crypto industry with more stable participants that have survived the crypto winter, Dante Disparte, the chief strategy officer of USD Coin’s publisher Circle, said recently.

In the first week of January 2023, Morocco along with Italy and the UK announced major developments around crypto regulations.

While Italy imposes a 26 percent tax on crypto profits, Morocco has entered the phase of discussions with industry players and stakeholders.

Cryptocurrency is an unregulated digital currency, not legal tender and subject to market risks. The information in the article is not intended to and does not constitute financial advice, trading advice or any other advice or recommendation of any kind offered or endorsed by NDTV. NDTV is not responsible for any loss resulting from an investment based on any observed recommendations, forecasts or other information contained in the article.

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