Majority Cryptocurrencies Take a Dip; Binance Coin, Polygon Emerge Among Few Gainers: On Monday, October 3, red-filled cryptocurrency price charts indicated that the market for digital assets was poised to enter a new month with more volatility. According to Gadgets 360’s cryptocurrency price tracker, Bitcoin began trading on Monday at $19,183 (approximately Rs. 15.60 lakh), a loss of more than 1% from the previous day. Bitcoin also lost money in markets other than the US. According to statistics compiled by Binance and CoinMarketCap, the price of Bitcoin has plummeted by around 0.90 percent. The global average price of Bitcoin is currently $19,199. (roughly Rs. 15.70 lakh).
Bitcoin’s price plummeted below $20,000 (approximately Rs. 16 lakh) last week due to a lack of demand. According to Edul Patel, CEO and co-founder of the crypto-investing platform Mudrex, BTC has been more volatile in recent weeks as market players respond to growing inflation and US currency movements.
Even while the price of Bitcoin fell, the price of Ether fell even farther. According to Gadgets 360, which tracks cryptocurrency values, ETH is currently worth $1,292. (roughly Rs. 1.05 lakh).
However, only a limited handful of digital currencies witnessed significant rises. Examples are Binance Coin, Polygon, Tron, and LEO. The overall value of the cryptocurrency market has yet to exceed one trillion dollars. The overall value of the cryptocurrency market declined by 0.95 percent in the previous 24 hours, reaching $927.52 billion (roughly Rs. 75,63,501 crore).
Cryptocurrency is a sort of digital money with no central bank. It is linked to market risks and is not recognised as legal tender anywhere. To be clear, NDTV is not providing any investment, trading, or other advice in this piece. If you follow the article’s ostensible advice, projections, or other material and lose money on your investments, NDTV is not to responsible.
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Bimal Mardi is a Professional Content Writer. He works in First Santal Broadcast Network TV/ News channel in India. Bimal Maradi writes about Technology, Education and Tech Product Reviews