One day before Christmas, the crypto market kicked off on December 24 with early gifts for the investors. After days of sluggish performance, Bitcoin started the day by adding 4.55 percent to its value and soaring to $53,305 (about Rs. 40 lakh) on Indian exchange CoinSwitch Kuber. This marks the first time in days that Bitcoin managed to rise above $51,000 (about Rs. 38 lakh). On international exchanges such as CoinMarketCap and Binance, Bitcoin is trading at about $50,973 (about Rs. 38 lakh).
Ether also found itself ushering in the merry season along with Bitcoin, gaining 2.37 percent. Currently, Ether is trading at $4,285 (about Rs. 3.2 lakh) per token according to Gadgets 360 crypto price tracker.
Cardano, Polkadot, Dogecoin and Shiba Inu, among the most altcoins, brightened the crypto charts.
Among a handful of cryptocurrencies that seem to be missing the festive spirit right now, Tether, Ripple, USD Coin and Polygon registered minor dips.
“As the weekend approaches, retailers need to be cautious and engage in aggressive trades. The low volumes help whales easily manipulate the market,” Edul Patel, CEO and co-founder of crypto investment firm Mudrex told Gadgets 360.
Meanwhile, overall shaky sentiment towards the crypto sector appears to have taken a breather over the holiday season.
Crypto exchanges are in the process of adding more altcoins to their wallets for traders to trade in.
Internationally, several crypto firms have added Bitcoin gifting features to allow more people to invest in the cryptocurrency and also draw their friends and family into the space.
