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Bitcoin crosses the $52,000 mark after a healthy start to the week, most altcoins register nominal gains



After a consistently strong performance this week, bitcoin, the world’s most valuable cryptocurrency, saw another day in the green, rising 3.8 percent. Crossing the $50,000 mark for the first time in four weeks on Tuesday, the cryptocurrency is currently trading at Rs. 39,58,447 (about $53040). The sentiment suggested a good week for the most popular cryptocurrency in the world after crossing the psychological barrier of $50,000 and so far it seems to be the case.

There’s a fair share of green markers populating Gadgets360’s cryptocurrency price tracker, with Ether listing the gainers. The second most valuable cryptocurrency saw a more significant climb of 3.25 percent, with a slight climb of 0.84 percent on Tuesday. 2,69,363 (about $3,609). As for the complete ban on crypto-trading in China, the Ethereum-based coin has seen ups and downs over the past ten days, but after a good start to the week, things are looking up.

Popular altcoin Dogecoin has had a great week so far and posted double-digit gains on Tuesday. Wednesday’s prices don’t match that, but Memecoin still featured in the list of top gainers for the day, with a 6.25 percent increase in value, shooting up to Rs. 19.66 (about $0.26). Elon Musk became a driving force here again after he tweeted a photo of a Shiba Inu on Monday. Tether, Ripple, Cardano and Litecoin all saw minor gains.

The cryptocurrency market has seen a decent climb since the start of the month and the Relative Strength Index indicator points to gains for most decentralized finance DeFi tokens as well.

India, a country that ranks second in the Global Crypto Adoption Index according to Chainalysis, accounts for 42 percent of crypto transactions being heavy and institutional-sized, pointing to a market that is typically larger than $10 million (about Rs 74 crore). more amount.

The market research firm also claims that the cryptocurrency has started gaining ground adoption in Central and Southern Asia and Oceania (CSAO) countries, leading to the rapid expansion of the emerging digital financing space.

Meanwhile, NFT sales volume rose to $10.7 billion (about Rs 79,820 crore) in the third quarter of 2021, an eight-fold increase from the previous quarter, claims market tracker DappRadar, a company focused on the use of blockchain. Promotes growth.

Interested in cryptocurrency? We discuss all things Orbital with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.Cryptocurrency is an unregulated digital currency, is not legal tender and is subject to market risks. The information in this article is not intended to be financial advice, trading advice or any other advice or a recommendation of any kind offered or endorsed by NDTV. NDTV shall not be liable for any loss arising out of any investment based on any alleged recommendation, forecast or any other information contained in the article.


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