BTC, ETH Record Minor Price Spikes, Most Altcoins Register Significant Profits

The crypto price charts reflected profits next to most cryptocurrencies on Tuesday, February 21. Bitcoin grew by 2.09 percent to trade at the price point of $24,920 (roughly Rs. 20 lakh). The oldest, most expensive cryptocurrency followed a similar trajectory on international exchanges such as Binance and CoinMarketCap to trade at the same price point. In the last 24 hours, the value of Bitcoin has risen by $664 (roughly Rs. 54,950) and experts predict its next resistance is likely to be at $31,000 (roughly Rs. 25.6 lakh).

Ether tailed behind Bitcoin on the gain trail. With a small gain of 1.14 percent, ETH took its value to $1,703 (roughly Rs. 14 lakh), as per Gadgets 360's crypto price tracker.

Stablecoins Tether, USD Coin, Ripple, and Binance USD recorded gains.

They were joined by other popular altcoins such as Cardano, Solana, Polkadot, Avalanche, and Uniswap on the profit-making side of the price chart.

Dogecoin and Shiba Inu, both the memecoins reeled-in gains.

As per CoinMarketCap, the global crypto market valuation rose by 1.03 percent in the last 24 hours. At the time of writing, the crypto market cap stood at $1.13 trillion (roughly Rs. 93,42,500 crore).

Among loss-making cryptocurrencies, Binance Coin, Polygon, Litecoin, Tron, LEO, and Monero marked their presence.

Circuits of Value, Flex, Husky, Kishu Inu, and Doge Killer also settled with price slips.

In recent times, the outlook towards cryptocurrencies as a quick money-making instrument has drastically changed for the better, Edul Patel, the CEO and co-founder of crypto investment firm Mudrex tod Gadgets 360 in an exclusive interaction.

“Cryptocurrencies are no longer being seen like a lottery ticket. Instead, investors have begun seeing crypto assets as long-term investment tools. Instead of purchasing crypto assets in bulk, individual as well as institutional investors have regularised their purchases and broken them up into smaller sizes. The global level regulations around crypto that India is working on along with other G20 nations, could benefit the overall industry-consumer relation for the long run, even if it looks like a time-consuming effort for now,” Patel noted.

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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