Bitcoin and Ether continue to trade flat despite a slight rise over the weekend

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Bitcoin, the world’s largest cryptocurrency by market cap, has had surprisingly tough weeks, but the weekend saw a substantial run into the green to start the week on a positive note. Bitcoin’s valuation has fallen more than 14% in the past two weeks, but Sunday’s 4% gain takes the cryptocurrency’s value to $ 52,601 (around Rs. 39.71 lakh) on the Indian exchange CoinSwitch Kuber, down 0.45% in the past 24 hours. Global exchanges like CoinMarketCap, meanwhile, saw the world’s most popular cryptocurrency drop 0.59% to be valued at $ 49,115 (around Rs. 37.08 lakh).

Bitcoin’s performance has been poor over the past few weeks, but Ether has suffered just as much, despite falling 4% last week. A positive weekend sees Ether’s valuation drop 0.8% in the past 24 hours, but the second most popular cryptocurrency has achieved a much better recovery after the Black Friday crash compared to Bitcoin. At the time of publication, Ether is valued at $ 4,299 (around Rs. 3.25 lakh) on CoinSwitch Kuber while stocks on global exchanges see the second largest crypto by market cap pegged at $ 4,025 (around Rs. . 3.03 lakh), where the coin has dropped 0.58% in the last 24 hours.

Gadgets 360’s cryptocurrency price tracker reveals that most popular altcoins also started the week back despite a strong performance on Saturday and Sunday.

Tether, Polygon, Cardano, Ripple and Uniswap all show a decline in face value while, Polkadot being the only altcoin to have seen its value increase 4.92% in the last 24 hours.

When it comes to coins itself, Dogecoin continued to decline, which saw the original dog coin drop nearly 3% over the past week. DOGE is currently valued at $ 0.17 (around Rs. 13.49), while Shiba Inu has climbed 3.46% to be valued at $ 0.000035 (around Rs. 0.002664). Although the value of SHIB has not seen a rapid turn to green over the past month, the cryptocurrency has recently enjoyed a lot of traction in terms of mainstream adoption.

Cryptocurrency investors appear to be taking a wait-and-see approach to large-cap cryptocurrencies, following what turned out to be a hectic few weeks for major tokens. For almost all of the major tokens, we noticed that a sale started last Wednesday, following a congressional meeting between top cryptocurrency CEOs and U.S. lawmakers to discuss the potential for regulation of the crypto market. -coins. While some of the major coins saw a positive surge over the weekend, Prime Minister Narendra Modi’s Twitter account was briefly hacked on Sunday, and a tweet claiming that India has “officially adopted Bitcoin as its currency. legal “has been published. The Prime Minister’s Office later confirmed that the account was immediately secured after the matter was reported to Twitter.

The tweet, published after Prime Minister Modi’s home address was hacked in the early hours of the morning, also claimed that India had officially bought 500 Bitcoins and was distributing them to its residents and was sharing a link, asking people to hurry up.

The hack took place after Prime Minister Narendra Modi said on Friday that emerging technologies such as cryptocurrencies should be used to strengthen democracy, not undermine it.

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 any perceived recommendation, forecast or any other information contained in the article.

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