Crypto investors can heave a sigh of relief, as most cryptocurrencies have again started to see more gains than losses, as May nears its end. According to the Indian exchange CoinSwitchKuber, the price of bitcoin rose 3.56 percent to reach $31,727 (approximately Rs 24.5 lakh) on Monday, May 30. In an unorthodox practice, bitcoin earned an even greater advantage on international exchanges. Binance and Coinbase reported a rise of up to 4.70 percent in BTC. The oldest cryptocurrency globally is currently trading at around $30,337 (approximately Rs 23.5 lakh).
Ethereum registered a similar upward move towards profit on the crypto chart. ETH price hovered around a relatively low point of $1,962 (approximately Rs 1.50 lakh), up 4.33 percent, shows cryptocurrency price tracker Gadgets 360,
Binance Coin, cardano, solana, polka dotAnd Avalanche got included in B T c And ETH is on profit mark.
Shiba Inu And dogecoin Prices increased by 8.58 per cent and 2.77 per cent, respectively. While each DOGE is priced at $0.088 (approximately Rs.6.85), each SHIB token is trading at $0.000012 (approximately Rs.0.000950).
Despite the significant gains that most cryptocurrencies have started trading with today, many of them are not as high as they were in the market before.
“Global growth concerns driven by rising interest rates and supply chain disruptions were major themes within investor narrative, with many leaning towards capital conservation during these volatile times. Appetite for riskier assets continued to decline with Asia-based tech stocks seeing capital flight. Crypto assets that typically have a high correlation with tech stocks also declined,” the research team at CoinDCX crypto exchange Gadgets told Gadgets. Told 360.
At the time of writing, stablecoins are pegged to the US dollar such as tie rope, USD coinAnd Binance USD was trading at a loss.
Currently the total market capitalization of the crypto sector is $1.25 trillion (approximately Rs 97,50,067 crore). CoinMarketCap,
“We remain optimistic on the long-term growth trajectory of crypto, and the immense potential it has to revolutionize the way we live, work and play,” the CoinDCX team said.
Meanwhile, TerraForm Labs launched its new blockchain called Terra Classic over the weekend. Due to earlier de-pegging Terra BlockchainLUNA, its native token, is currently seeing extreme volatility.
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