BTC and ETH see minor price spikes, most altcoins see big profits

Crypto price charts reflected earnings alongside most cryptocurrencies on Tuesday, February 21. Bitcoin rose by 2.09% to trade at a price of $24,920 (roughly Rs. 20 lakh). The oldest and most expensive cryptocurrency followed a similar trajectory on international exchanges such as Binance and CoinMarketCap to trade at the same price. Over the past 24 hours, Bitcoin’s value has risen by $664 (approx. Rs. 54,950) and experts predict that its next resistance is likely to be $31,000 (approx. Rs. 25.6 lakh).

Ether followed Bitcoin on the gain trail. With a small gain of 1.14%, ETH took its value to $1,703 (roughly Rs. 14 lakh), according to crypto price tracker Gadgets 360.

Stablecoins Tether, USD Coin, Ripple and Binance USD recorded gains.

They were joined by other popular altcoins such as Cardano, Solana, Polkadot, Avalanche, and Uniswap on the lucrative side of the price chart.

Dogecoin and Shiba Inu, both memecoins won.

According to CoinMarketCap, the valuation of the global crypto market has increased by 1.03% in the past 24 hours. At the time of writing, the crypto market capitalization stands at $1.13 trillion (roughly Rs. 93,42,500 crore).

Among the loss-making cryptocurrencies, Binance Coin, Polygon, Litecoin, Tron, LEO and Monero marked their presence.

Circuits of Value, Flex, Husky, Kishu Inu and Doge Killer also settled with price slips.

In recent times, the outlook towards cryptocurrencies as an instrument for creating quick money has changed dramatically for the better, Edul Patel, CEO and co-founder of crypto investment company Mudrex tod Gadgets 360 in a exclusive interaction.

“Cryptocurrencies are no longer seen as a lottery ticket. Instead, investors have started looking at crypto assets as long-term investment tools. Instead of buying crypto assets in bulk, individual and institutional investors have regularized their purchases and split them into smaller sizes. The global-level regulations regarding crypto that India is working on with other G20 countries could benefit the overall industry-consumer relationship in the long term, although it seems like a time-consuming effort for now,” noted patel.

Cryptocurrency is an unregulated digital currency, which is not legal tender and is subject to market risk. The information provided in the article is not intended to be and does not constitute financial advice, business advice or any other advice or recommendation of any kind offered or endorsed by NDTV. NDTV shall not be liable for any loss resulting from any investment based on any perceived recommendation, forecast or any other information contained in the article.