Top Cryptocurrency Prices Today: Bitcoin, Avalanche, Ethereum decline up to 5% – Economic Times
New Delhi: The cryptocurrency market witnessed some profit booking following a sharp rise over the last few days and ahead of the weekend.
Barring four tokens, six out of 10 digital tokens were trading lower at 9.30 am IST. Terra, Avalanche, Bitcoin and Ethereum saw profit booking, while XRP and Cardano added up to 4 per cent.
The global crypto market cap declined about a per cent to $2…….
New Delhi: The cryptocurrency market witnessed some profit booking following a sharp rise over the last few days and ahead of the weekend.
Barring four tokens, six out of 10 digital tokens were trading lower at 9.30 am IST. Terra, Avalanche, Bitcoin and Ethereum saw profit booking, while XRP and Cardano added up to 4 per cent.
The global crypto market cap declined about a per cent to $2.28 trillion mark compared to the last day. The total crypto market volume dropped over 6 per cent to $90.20 billion.
What’s cooking in India
Buying cheap smallcaps in the hope that prices will rise is a strategy not restricted to stock market trading. Cryptocurrency investors are doing the same – parking their money in small-cap cryptos and praying for a windfall. But experts say this could be risky.
There are over 6,000 virtual currencies and tokens circulating around the world, and spotting a multi-bagger early on is near impossible, they say. Much like in the stock market, the world of cryptocurrencies also has large-, mid- and small-cap coins and tokens.
Expert Take
“There was cheer in the crypto market as major large- and midcaps rebounded strongly. The once bearish sentiments seem to have flipped as hopes of a Santa rally began to mount,” said CoinDCX Research Team.
We remain overweight on the Metaverse, GameFi and Layer 1s sectors, especially with the pent up demand and institutional flows we have been seeing lately, it added.
Global updates
Google, Amazon, Apple and other large tech companies pay millions of dollars in annual compensation to chase what they see as a once-in-a-generation opportunity among the coding talent.
Silicon Valley is now awash with stories of people riding seemingly ridiculous crypto investments like Dogecoin, a digital coin based on a dog meme, to life-changing wealth.
Streamlining NFTs
WazirX NFT Marketplace said it has collaborated with the current custodian of the Wadiyar dynasty, who ruled from Mysore, and is launching NFTs highlighting the rich heritage, culture and folklore of the region.
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