BTC, ETH, Most Altcoins See Gains As Turbulent November Marks Its End
Many cryptocurrencies on Wednesday, November 30, opened with gains and turned the green crypto price charts from top to bottom. With a price increase of 3.94 percent, BTC opened trading at a price point of $16,900 (approximately Rs. 13.7 lakh). Value wise, the oldest cryptocurrency has grown by $650 (approx. 53,000) from its trading value of $16,250 (approx. Rs. 13 lakh) recorded at the opening, in the last 24 hours. Like international exchanges such as Coinbase and Binance, BTC has received small gains to trade at the same price.
Ether also registered gains, following closely behind Bitcoin. With a gain of 7.35 percent, the price of ETH touched $1,270 (roughly Rs. 1.03 lakh) as shown by the crypto price tracker on Gadget 360.
The crypto market, ironically, seems to have entered a celebratory mood now that the tumultuous month of November 2022 is nearing its end. In December, markets can witness festive cheer as the holiday season approaches.
Meanwhile, many altcoins opened with gains today. These include Binance Coin, Cardano, Polygon, Polkadot, Litecoin, Solana, and Tron.
While DOGE saw a rise, Shiba Inu also continued its streak of registering gains for the third day in a row.
Even stablecoins like Binance USD and USD Coin entered the last day of November with gains.
Losses hit only a small number of altcoins today, including Leo, Zcash, Braintrust, DIA, and Gas.
The global crypto market has increased by 3.07 percent in the last 24 hours. Currently, the industry valuation stands at $850 billion (approx. Rs. 69,51,499 crore).
Although today brings a sense of profit over the crypto market, industry experts have highlighted that Bitcoin’s Cumulative Volume Delta, which measures the involvement of investors in the existing markets, has decreased by 25 percent in the last two weeks.
“The recent start of the week saw a decline in global stocks, the price of Bitcoin, Ethereum, and other digital assets fell as investors dumped riskier assets reportedly shaken by unrest in China related to protests against the COVID-19 lockdown followed by the latest announcement. of crypto lender BlockFi declaring bankruptcy,” the CoinDCX research team told Gadgets 360.
While markets fluctuate daily, the crypto and blockchain sectors continue to witness growth.
India, for example, will launch its digital rupee CBDC for retail testing on December 1.
The Bank of Israel has also pushed its government to speed up regulatory work around crypto.
Cryptocurrency is an unregulated digital currency, not 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 other advice or recommendations of any kind provided or endorsed by NDTV. NDTV shall not be liable for any loss arising from any investment based on any implied recommendation, forecast or other information contained in the article.
