BTC Touches $17,000 With Small Gains; ETH, DOGE, SHIB Follow the same
Crypto price charts glowed green on Monday, December 5, with more coins registering gains than losses. With marginal gains of 1.39 percent, Bitcoin opened trading today at a price of $17,221 (roughly Rs. 13.99 lakh). Similarly small gains also add small amounts of BTC prices in international exchanges. As shown on Coinbase, CoinMarketCap, and Binance among other foreign markets, BTC has gained about two percent to keep its price above the $17,000 mark (about Rs. 13.80) internationally.
Ether registered a slightly larger gain than BTC. With a price increase of 2.30 percent, ETH is currently trading at $1,288 (roughly Rs. 1.04 lakh).
Among other cryptocurrencies that entered the second week of December with gains, Dogecoin and Shiba Inu joined Binance Coin, Cardano, Polygon, Polkadot, and Litecoin.
Gains also came from Solana, Uniswap, Avalanche, Chainlink, and Leo.
The overall crypto market grew by 1.40 percent in the last 24 hours to acquire a value of $864 billion (roughly Rs. 70,25,994 crore).
“The broader crypto market improved over the past week as many cryptocurrencies traded in the green, erasing their weekly losses. With more clarity emerging on the extent of the damage caused by the FTX collapse, the crypto market may recover and take the stream. Until then, pricing may be limited,” Edul Patel, CEO and founder of Mudrex told Gadgets 360.
Only a small number of cryptocurrencies have settled with losses today.
They include stablecoins such as Tether, USD Coin, Binance USD, and Ripple.
Tron, Monero, Bitcoin Cash, and Elrond also suffered losses.
The crypto market, despite the constant ups and downs, has continued to show growth.
Many countries around the world are now drafting laws to regulate crypto and make the sector safe for investors to venture into.
Italy, for example, recently proposed to levy a 26 percent tax on crypto profits above $2,000 (roughly Rs. 1.62 lakh) in a crypto-focused bill, which is in line to get approval from Italy’s top authorities.
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.