The Bitcoin, Ether Continue Upward Trajectory as Most Cryptocurrencies Record Profits.
In token specific action, SOL continues to enjoy strong gains (up >20 percent), after the major slump in prices post FTX fallout.
The latest pump can be attributed to Electric Capital's Developer report, that highlights Solana ecosystem's builder strength. Crucially, BTC and ETH are trading around the crucial support levels despite Genesis declaring bankruptcy and tech majors like Google and Microsoft announcing mass layoffs.
The strongest gains last week were witnessed in metaverse themed tokens MANA (up by 60 percent) and SAND (up 33 percent), following the news that Apple will release a VR/AR headset this spring,” Parth Chaturvedi, Crypto Ecosystem Lead, CoinSwitch told.
Both memecoins Dogecoin and Shiba Inu also continued their profit streaks. A Nansen report has recently claimed that Shiba Inu, that is priced $0.000012 (roughly Rs. 0.000991), is the top investment choice for starter investors. Meanwhile, Dogecoin is currently priced at $0.090 (roughly Rs. 7.32).
Litecoin, Avalanche, Tron, Uniswap, and Wrapped Bitcoin and other altcoins saw their values rise.
In the last 24 hours, the overall crypto market cap rose by 1.33 percent to the valuation of $1.06 trillion (roughly Rs. 86,42,933 crore) as per CoinMarketCap.
Bitcoin opened trading with a small gain of 2.58 percent on Tuesday, while most cryptocurrencies recorded profits, indicating a healthy recovery for these highly speculative digital assets.
The trading value of the world's most popular cryptocurrency stands at $23,071 (roughly Rs. 18.8 lakh).
In the last 24 hours, BTC grew by $355 (roughly Rs. 28,990) in terms of value on both national as well as international exchanges.
With the top-most crypto rallying with profits, majority cryptocurrencies have risen out of their respective slumps as the recovery from last year's crypto meltdown continues.
Ether jumped 1.20 percent in value on Tuesday. The second most-valued cryptocurrency is trading at $1,638 (roughly Rs. 1.33 lakh), as per Gadgets 360's crypto price tracker.
Stablecoins such as Tether, USD Coin, Ripple, and Binance USD higher up the crypto ladder, alongside Cardano, Solana, Polygon, and Polkadot also recorded profits on Tuesday.