The month of June 2022 was brutal in terms of Bitcoin and broader market correction. The world’s largest cryptocurrency plunged more than 37 percent, registering its worst monthly performance since 2011. Since then, Bitcoin has been consolidating at about $20,000 (about Rs. 15.8 lakh) levels. As things stand, the price of the world’s largest cryptocurrency by market value is hovering around $20,300 (approximately Rs. 16.05 lakh) on global exchanges, while Indian exchange CoinSwitch Kuber values Bitcoin at $20,892 (approximately Rs. 16.5 lakh), up 5 percent in the past 24 hours.
On global exchanges such as CoinMarketCap, Coinbase and Binance, the price of Bitcoin stands at $20,304 (about Rs. 16.05 lakh), while CoinGecko data shows that the value of BTC is currently declining at 1.8 percent per day.
Ether, meanwhile, also witnessed a significant appreciation in value. At the time of publication, Ether is valued at $1,188 (approximately Rs. 94,000) on CoinSwitch Kuber, while values on global exchanges see the crypto’s value at $1,163 (approximately Rs. 92,003), where the cryptocurrency has grown in the past 24 years. 10.34 percent has risen hours.
Despite Ether’s price movement in the past 24 hours, the cryptocurrency’s value remains at a further 2.3 percent from last week’s value, according to CoinGecko data.
The DailyExpertNews cryptocurrency price tracker reveals that a large number of major altcoins have risen in the past day – as the global crypto market capitalization has risen 5.83 percent in the past 24 hours. BNB, Solana, Polkadot, Stellar, Avalanche and Cardano all racked up big wins, while Polygon, Uniswap and Cosmos topped the charts with double-digit gains.
Memecoins Shiba Inu and Dogecoin also witnessed some ups on the day. Dogecoin is currently valued at $0.07 (approximately Rs. 5.6) after gaining around 2.73 percent in the past 24 hours while Shiba Inu is valued at $0.000011 (approximately Rs. 0.000865) , an increase of 4.98 percent in the past day.
Singapore-based crypto lending and trading platform Vauld said Monday it would suspend withdrawals and trading and seek new investors, the latest sign of stress in the contentious crypto industry.
Vauld said it had appointed legal and financial advisers, was in talks with potential investors, and would also request a moratorium in Singaporean courts that would halt all proceedings against the company to give it time to implement a restructuring.
The crypto industry has been rocked by a series of collapses in recent months, including the failure of algorithmic stablecoin TerraUSD, the major US-based lender Celsius network that is pausing withdrawals and Singapore-based crypto hedge fund Three Arrows Capital going bankrupt. .
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