BTC, ETH Continue Trading Down With Losses, Stablecoins See Some Profits
The crypto market has been experiencing turmoil for the past few weeks, as a result, most cryptocurrencies are seeing more losses than gains. On Monday, November 21, Bitcoin entered the trading arena in the red. BTC prices fell by 3.97 percent to trade at a price point of $15,960 (roughly Rs. 13 lakh), according to crypto price tracker 360 Gadgets. The price of BTC has not seen any significant changes in international trading. As per Binance and Coinbase for example, BTC is trading at $15,986 (roughly Rs. 13 lakh).
Ethereum met the same fate, losing money alongside Bitcoin. ETH recorded a price drop of 7.81 percent on the charts, to trade at $1,118 (roughly Rs. 91,540).
Most of the altcoins settled with losses today, following the price movements of BTC and ETH.
These include Binance Coin, Cardano, Uniswap, Polygon, and Polkadot.
Dogecoin and Shiba Inu also saw a drop in price.
“If buyers can push the price of BTC above the trendline, we could see an upward trend this week. On the other hand, Ethereum also fell by 8% over the weekend. If the selling pressure does not subside, ETH will likely remain under bearish threat until the price remains below the trendline,” Edul Patel, CEO and Co-Founder of Mudrex told Gadgets 360.
In the current market situation, only a few altcoins are able to make a profit. These include stablecoins such as Tether, USD Coin, and Binance USD.
LEO, Dogefi, Bitcoin Hedge, and Flex rose slightly in value.
The overall crypto market is down 4.21 percent in the last 24 hours. The current value of the crypto industry stands at $801.53 billion (approximately Rs. 65,61,543 crore), as per CoinMarketCap,