BTC, ETH, Most Altcoins See Profits as Turbulent November Marks its End

Most cryptocurrencies on Wednesday, November 30, opened with profits and turned the crypto price charts green from top to bottom. With a 3.94 percent value hike, BTC opened trading at the price point of $16,900 (roughly Rs. 13.7 lakh). Price wise, the oldest cryptocurrency has grown by $650 (roughly 53,000) since its trading value of $16,250 (roughly Rs. 13 lakh) that was recorded at opening, 24 hours ago. As per international exchanges like Coinbase and Binance, BTC reaped-in small gains to trade around a similar price.

Ether also registered profits, tailing closely behind Bitcoin. With a gain of 7.35 percent, ETH value touched $1,270 (roughly Rs. 1.03 lakh) as shown by the crypto price tracker on Gadgets 360.

The crypto market, ironically, seemingly entered a celebratory mood now that the turbulent month of November 2022 if finally coming close to its end. With December, the markets could witness some festive cheer with the holiday season inching closer.

Meanwhile, majority altcoins opened with gains today. These include Binance Coin, Cardano, Polygon, Polkadot, Litecoin, Solana, and Tron.

While DOGE saw a hike, Shiba Inu also continued its streak of registering gains for the third consecutive day.

Even stablecoins such as Binance USD and USD Coin stepped into the last day of November with profits.

Loss struck only a small number of altcoins today, that include Leo, Zcash, Braintrust, DIA, and Gas.

The global crypto market cap rose by 3.07 percent in the last 24 hours. Presently, the valuation of the industry stood at $850 billion (roughly Rs. 69,51,499 crore).

While today brings a profit-centric sentiment over the crypto market, industry experts have highlighted that Bitcoin's Cumulative Volume Delta, which measures investor involvement in spot markets, saw a 25 percent fall over the past two weeks.

“The recent start of the week witnessed a fall in global stocks, the price of Bitcoin, Ethereum, and other digital assets fell as investors dumped risky assets reportedly alarmed by unrest in China related to the COVID anti-lockdown protests followed by the recent announcement of crypto lender, BlockFi declaring bankruptcy,” the CoinDCX research team told Gadgets 360.

While the markets undergo daily fluctuations, the crypto and blockchain sectors continue to witness growth.

India, for instance, is set to launch its digital rupee CBDC for retail testing on December 1.

Bank of Israel has also pushed for its government to accelerate the work on regulations around crypto.

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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