Lagatar24 Desk
Mumbai, Jan 3: Bitcoin’s first day of trading in 2022 was a success, however, things haven’t really improved since then. Bitcoin hasn’t been able to stay up with the festive high right after Christmas, when its prices rose above $52,000 (approximately Rs. 38.6 lakh) for the first time in three weeks, following one of the worst months since the May 2021 crash. Bitcoin’s price has dropped 0.28 percent in the last 24 hours, to $50,429 (approximately Rs. 37.5 lakh) on Indian market CoinSwitch Kuber, while the most popular cryptocurrency is now valued at $46,939 on worldwide exchanges like CoinMarketCap (roughly Rs. 34.92 lakh).
Unlike Bitcoin, Ether received a much-needed lift at the start of the year. After a good couple of days of trading over the weekend, the world’s second most valuable cryptocurrency is up approximately 2% in the last 24 hours. Ether is currently valued at $4,083 (approximately Rs. 3.03 lakh) on CoinSwitch Kuber, while the second-largest crypto by market cap is valued at $3,796 (about Rs. 2.82 lakh) on worldwide exchanges, where the coin has seen a similar growth of 1.9 percent in the last 24 hours. Ether’s performance has improved slightly after the slump, but it is still down 6.8% in value over the last week.
Tether, Ripple, Cardano, and Polygon all saw their prices dip, while Uniswap, Litecoin, Chainlink, and Polkadot remained the day’s biggest losses.
Meme coins had a rough week, but 2022 has started off a little better, despite waning investor interest. Dogecoin is now worth $0.18, up 0.5 percent in 24 hours (roughly Rs. 13.78). Shiba Inu, on the other hand, is up 0.7 percent to $0.000036. (roughly Rs. 0.002705). SHIB has lost 11.5 percent of its value in the last week, while Dogecoin has lost 9.4 percent.
Bitcoin’s value has plummeted by more than 7% in the last week, according to CoinGecko, despite the cryptocurrency’s year-to-date gain of more than 46.8%.
