Bitcoin Pulls Above $ 65,000 As Ether, Dogecoin, Polkadot, And Other Crypto Coins Start Week Green

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Bitcoin (BTC) prices haven’t seen a huge move over the past week, but the world’s oldest cryptocurrency has started this week off to a good start. Bitcoin is currently trading at $ 70,474 (around Rs. 52.3 lakh) on India’s CoinSwitch Kuber exchange and global exchanges like Coinbase and Binance have BTC trading at around $ 65,240 (around Rs. 48.4 lakh). The world’s largest cryptocurrency by market cap has grown 4.75% in the past 24 hours and is trading at levels close to its all-time high of $ 67,000 (around Rs. 49.7 lakh) – a mark she reached on Oct. 20. A new rally could be in place which could see BTC prices exceed $ 70,000 (around Rs. 51.9 lakh).

Although Bitcoin’s price trends are bullish, its dominance in the overall crypto market continues to decline, which experts see as a positive sign for altcoins. According to the Gadgets 360 cryptocurrency price tracker, Ether is currently trading at $ 5,104 (around Rs. 3.8 lakh), up 3.76% in the past 24 hours. The price of Ether gas, meanwhile, has seen a decline in recent days as the non-fungible token (NFT) market continues to drive adoption of the network. That said, the drop in gas fees could also mean fewer people are trading on the Ethereum-based network – a sign that traders are also considering alternative networks, especially Solana (SOL), which has been widely adopted in recent weeks. .

The rise in popularity of Shiba Inu sees a small fray starting the week. Rival Dogecoin is down 5.4% after a record run last week. Meanwhile, Dogecoin, whose investors haven’t seen stability in recent weeks, is up 2.68% to trade at Rs. 21.77 (around $ 0.29).

Elsewhere, the coin chart shows most altcoins in the green to start the week, with Ripple leading the charge with a 9.47% gain over the past 24 hours. Polkadot and Cardano are also on the rise, but not by much. Meanwhile, Tether started the week down, down 0.2% to trade at Rs. 80.50 (around $ 1.08).

As cryptocurrency adoption increases globally, Square on Thursday announced a nearly 60% increase in its gross margin in the third quarter, fueled by an increase in Bitcoin transactions on its peer-to-peer payment service. to-peer Cash App. Cash App generated $ 1.82 billion (approximately Rs. 13,509 crore) in Bitcoin revenue, up 11% from the previous year.

Speaking of adoption, Amitabh Bachchan became one of the first major Indian celebrities to announce his Non-Fungible Token (NFT) series earlier this year. Enthusiastic fans of the Bollywood actor purchased digital collectibles from his NFT series for a total amount of $ 966,000 (approx Rs. 7.18 crore).

Bachchan’s NFT series articles included a recital of his father’s famous poem “Madhubala,” autographed vintage posters of himself, as well as other elements associated with his identity, work and fame. The auction for this collection began on November 1 and closed on the day of India’s biggest festival, Diwali, on November 4.

Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and WeekendInvesting Founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.

Cryptocurrency is unregulated digital currency, not legal tender and subject to market risk. The information provided in the article is not intended to be and does not constitute financial advice, business advice or any other advice or recommendation of any kind offered or endorsed by NDTV. NDTV will not be liable for any loss resulting from any investment based on a perceived recommendation, forecast or any other information contained in the article.

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