BTC, ETH See Miniscule Profits, Losses Strike Stablecoins Tether, USD Coin

Bitcoin on Friday, December 30, opened trading with a small profit of 0.08 percent. At the time of writing, BTC prices on national and international exchanges, stand at $16,585 (roughly Rs. 13.7 lakhs). From its last all-time high of $68,000 recorded last November, the year of 2022 pushed Bitcoin down the price ladder very drastically. Now, on the second last day of the year 2022, BTC has marked a significantly low value. The crypto price charts reflected reds next to greens as crypto prices fluctuated big time for most coins.

Ether saw a minor gain of 0.79 percent as it stepped into the trade arena. ETH, as per Gadgets 360's crypto price tracker, is currently priced $1,196 (roughly Rs. 99,020).

Like BTC, ETH also stooped dramatically low in terms of its value this year. Its last recorded all-time-high in November 2021, stood at around $4,890 (roughly Rs. 4.04 lakh).

Binance Coin, Polkadot, Litecoin, Uniswap, and Solana joined BTC and ETH in reeling-in minor gains.

Cosmos, Stellar, and Bitcoin SV also settled with small profits.

Both meme coins, Shiba Inu and Dogecoin also saw minor price hikes on the second-last day of 2022. While DOGE is priced $0.070 (roughly Rs. 5.80), SHIB price stands at $0.0000081 (roughly Rs. 0.000670).

It is noteworthy that, stablecoins pegged against the US dollar opened trade with losses today. These include Tether, USD Coin, Ripple, and Binance USD.

Other popular altcoins like Cardano, Polygon, Tron, Avalanche, and Wrapped Bitcoin also recorded price slashes.

The overall crypto market rose by 0.09 percent in the last 24 hours. As per CoinMarketCap, the global crypto market cap stands at $795.8 billion (roughly Rs. 65,87,835 crore).

Despite the ongoing crypto slump, industry players have not lost all hope.

Huobi crypto exchange for instance, has revealed its plans of soon bringing a card service, that would make fiat-to-crypto transactions efficient and just a tap away.

On the other hand, KuCoin Labs, the incubation arm of KuCoin crypto exchange has announced a special programme to help blockchain builders to create products and services in the metaverse, NFT, and the Gamefi sectors.

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Will crypto tax hurt the industry in India? We discuss this on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

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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