crypto news: As of January 27, 2023, the largest cryptocurrency by market capitalization, Bitcoin price is currently trading down by 0.31% at around $1,627.99. This is down from its all-time high of around $65,000, which was reached in April 2021. Ethereum, the second largest cryptocurrency by market capitalization, is currently trading at around $1,581.71, down 1.33%. It is also down from its May 2021 all-time high of over $4,000.
The overall cryptocurrency market has experienced a significant pullback in recent months, with many altcoins also seeing a drop in value. However, it is worth noting that cryptocurrency prices can be highly volatile, and it is not uncommon for them to experience sharp price movements in either direction.
According to Bitfinex analysts, bitcoin miners are slowing down in selling the cryptocurrency. Data from crypto analytics platform Glassnode shows that BTC flows from miner wallets to exchanges are at a three-year low. This suggests that miners are holding on to their bitcoins rather than selling them. Bitcoin miners play a key role in powering the decentralized, peer-to-peer payment network of the world’s largest cryptocurrency by market capitalization. They are rewarded for their efforts with newly created bitcoins. The market behavior of these miners is closely watched, as a reduction in selling pressure from this group is generally seen as a positive sign for the price of bitcoin.
Here are the major cryptocurrencies trading on January 28, 2023 at 9:00 AM IST:
• Bitcoin : $23,405.72
(+1.29%)
• Ethereum: $1,614.69 (+1.53%)
• Tether: $1.02
(-0.03%)
• USD Coin: $1.00
(+0.00%)
• BNB: $311.83
(+1.29%)
• XRP : $0.4151
(-0.17%)
• Dogecoin : $0.08865
(+2.37%)
• Cardano : $0.3933
(+4.02%)
• Polygon : $1.17
(+5.43%)
• Polkadot : $6.67
(+2.35%)
• Tron : $0.0633
(+2.62%)
• Litecoin :$89.83
(+1.43%)
• Shibu Inu: $0.00001204
(+2.87%)
• Solana: $25.16
(+1.17%)
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