BTC, ETH Reel-In Profits, Most Altcoins See Gains for Second Consecutive Day

The crypto price charts reflected greens next to most cryptocurrencies on Wednesday, January 4. Bitcoin opened with a profit of 0.18 percent to trade at the price point of $16,693 (roughly Rs. 13.8 lakh). In the last 24 hours, BTC value has grown by $25 (roughly Rs. 2,070). The oldest cryptocurrency, although stooped drastically low in its value in the last one year, has emerged as a powerful asset class since its inception in 2008. In fact, yesterday marked the 14th anniversary of Bitcoin's first ever block, called the Genesis block, being mined.

Ether price spiked by 1.52 percent as the asset stepped inside the trading arena. ETH, at the time or writing, held firm on the price point of $1,230 (roughly Rs. 1 lakh), showed the crypto price tracker of Gadgets 360.

Along with BTC and ETH, stablecoins such as Tether, USD Coin, Ripple, and Binance USD — rallied with profits.

Binance Coin, Cardano, Polygon, Litecoin, Polkadot, and Solana reaped gains.

Greens, indicating profits shaded altcoins including Uniswap, Avalanche, Leo, Wrapped Bitcoin, Cosmos, and Chainlink.

Both the meme coins Dogecoin and Shiba Inu also opened with small but significant gains

In the last 24 hours, the overall crypto market valuation grew by 1.60 percent. As per CoinMarketCap, the market cap of cryptocurrencies stands at the mark of $818 billion (roughly Rs. 67,83,252 crore).

Meanwhile, only a small number of altcoins settled with losses today.

These include Tron, Stellar, Elrond, Iota, and Baby Doge Coin.

The year of 2023 is expected to finetune the crypto industry with steadier participants that managed to survive the crypto winter, Dante Disparte, the chief strategy officer of Circle, the issuer of USD Coin said recently.

In the first week of January 2023, Morocco joined Italy and the UK in announcing important developments around the crypto rules.

While Italy levied a 26 percent tax on crypto gains, Morocco has entered the phase of discussions with industry players and stakeholders.

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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