Bitcoin Trades Flat as Solana Leads Altcoin Surge to Reverse Mid-Week Losses

The wider crypto market continues to grapple through what has been a strong bearish trend to the week although things do look on the upside for most altcoins as we head into the weekend. In terms of value, the world’s most popular cryptocurrency moved very little, registering a 0.74 percent gain through Thursday staying close to the $44,000 (roughly Rs. 33 lakh) mark across global exchanges after dropping to a two-week low mid-week. At the time of writing, the value of Bitcoin is down by 0.36 percent in the past 24 hours and stands at $46,011 (roughly Rs. 34.5 lakh) on Indian exchange CoinSwitch Kuber.

On global exchanges, the price of Bitcoin stands ever so close to the $44,000 (roughly Rs. 33 lakh) mark at $43,902 (roughly Rs. 33 lakh) gaining 0.19 percent in value over the past 24 hours. As per CoinGecko data, BTC has somewhat bettered its weekly performance over the past couple of days but still stares at a 4.3 percent low in value week-to-day.

As has been the case over the past few week Ether, the world’s second-largest cryptocurrency has had a better showing over the past day. At the time of publishing, Ether is valued at $3,446 (roughly Rs. 2.5 lakh) on CoinSwitch Kuber while values on global exchanges see the crypto’s value at $3,283 (roughly Rs. 2.5 lakh), where the coin has seen a rise of 1.48 percent over the past 24 hours.

CoinGecko data reveals that the cryptocurrency’s value has dropped by a mere 0.7 percent over the past week despite considerable dips mid-week.

As per Gadgets 360’s cryptocurrency price tracker, the last day has been a positive one for most altcoins. The global crypto market cap witnessed a rise of 1.19 percent over the past 24 hours. Binance Coin, Avalanche, Polygon, Solana, Cardano, and Polkadot have managed green markers on the day, while Terra appears to be the only outlier here with losses over the past 24 hours.

Shiba Inu and Dogecoin, meanwhile, also managed to reverse some of its mid-week losses. Dogecoin is currently valued at $0.16 (roughly Rs. 12) after gaining 3.84 percent over the last 24 hours, while, Shiba Inu is valued at $0.000026 (roughly Rs. 0.002), up by 1.12 percent over the past day.

Much of the crypto chatter in India on Thursday revolved around Coinbase’ opening of crypto trading services within the country. The US-based crypto company that operates the world’s second-largest exchange by trade volume has announced that its trading services will now be available to users in India which includes the ability to trade as many as 157 crypto assets and the ability to buy cryptocurrencies in Indian currency.

Announcing the move at a crypto community event in Bangalore, Coinbase has also announced chat support for Indian users, alongside an early-bird sign-up incentive and a referral programme to lure new users.

The popular exchange also stated that Indian users of the Coinbase app will be able purchase cryptocurrencies using the Unified Payments Interface (UPI), a claim that saw the National Payments Corporation of India (NPCI) clarify in a statement to Gadgets 360 that says, “We are not aware of any crypto exchange using UPI.»

Cryptocurrency is an unregulated digital currency, not a 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 any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

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