On Monday, February 14, the majority of cryptocurrencies began their trading session in the red.
On the other hand, Bitcoin dropped 0.82 percent to start trading at $44,528 (roughly Rs. 33.5 lakh) on CoinSwitch’s Indian exchange, Kuber.
The week has been good for Bitcoin, as the crypto-asset was able to overcome its resistance of $45,000 (roughly Rs. 34 lakh) after months of difficulties.
The bitcoin price, on the other hand, dropped 0.94 percent on global exchanges today.
On Binance, CoinMarketCap, and Coinbase, each token is valued at around $41, 906 (roughly Rs. 31.5 lakh).
Ether continued its sluggish week on Monday, after registering a loss of 1.96 percent the day before.
Prices for Ethereum and Bitcoin both dropped by 2.13 percent in the aftermath of the news.
The cryptocurrency is trading at $3,041 on Gadgets 360’s crypto price chart (roughly Rs. 2.30 lakh).
Both BTC and ETH are in a stronger position this month, with daily trading value losses of less than 1%.
However, the crypto market’s overall picture appears to be tensed, with minor losses denting the majority of altcoins.
The majority of top cryptocurrencies such as Binance Coin, Ripple, Cardano, Solana, and Polkadot all lost ground.
Surprisingly, meme-based Dogecoin and Shiba Inu had similar gains of 0.48% and 1.39%, respectively.
DOGE is currently worth about $0.15 (about Rs. 11.5) per DOGE, whereas the value of SHIB is around $0.000031 (Rs 0.002335).
Following its anonymous creators’ first upcoming metaverse project, which will auction “Shiba Lands” as a virtual real estate project, the SHIB coin has been gaining small amounts of value since the beginning of this month.
The cryptocurrency market is now seeing a variety of new altcoin listings, with Tether and USD Coin among the biggest gainers.
The overall sector is expected to experience a healthy expansion. “Retail investment into crypto is also rising,” according to crypto experts.
“There’s still shared optimism and support for the sector, cementing crypto’s long-term position, as the growing demand, legitimacy, and influence of digital assets on the worldwide market continues to be acknowledged,” said CoinSCX researchers.
The FCA and the SEC are expected to introduce regulations quickly, in order to disrupt appetite for risk linked with the cryptocurrency market.
Meanwhile, Uber has stated an interest in accepting cryptocurrency payments “at some point.”
According to CoinMarketCap, the total market capitalization has increased to $1.86 trillion (roughly Rs. 1,41,00,900 crore) from $1.72 trillion (about Rs. 1,28,63,420 crore) on February 4th.