- BTC is trading at $23,331 (around Rs 18 lakh)
- Ether is currently priced at $1,238 (around Rs 96,665)
- The crypto market capitalization is $963 billion (about Rs 75,15,077 crore)
The days are getting tougher and tougher for the cryptocurrency industry. On Tuesday, the price of the world’s most popular cryptocurrency, Bitcoin, fell 16.51%. According to Indian exchange Coinswitch Kuber, BTC is trading at $23,331 (about Rs 18 lakh). The reason for this drop in bitcoin is believed to be the crash of the crypto landing platform named Celsius Network as well as the rising inflation rate in the United States. Also on international exchanges, bitcoin was trading at $21,924 (roughly Rs 17 lakh), down more than 16.42%.
After hitting its latest high of around $68,000 (approximately Rs 53 lakh) in November last year, this is bitcoin’s lowest level in the last 6 months. At the same time, the second most popular cryptocurrency in the world, Ether, is also walking the path of bitcoin. It recorded a loss of more than 15.40%. According to crypto price tracker from Gadgets 360, the cryptocurrency is currently priced at $1,238 (roughly Rs 96,665).
Most altcoins have also suffered badly from the collapse of the two main cryptocurrencies in the market. These include Binance Coin, Cardano, Solana, Polkadot, Tron, and Avalanche. Shiba Inu and Dodgecoin, known as Mim Coins, also saw price declines.
The global crypto market cap is currently at $963 billion (approximately Rs 75,15,077 crore) after registering a decline of 13.74% in the last 24 hours.
Meanwhile, some cryptocurrencies have seen their prices increase. These include Tether, Chainlink, Decentraland, Bitcoin SV, and Elrond. Meanwhile, industry experts are optimistic about the improvement in the market they see in the coming times.
Speaking of Celsius Network, the decision to suspend all withdrawals on its landing platform has seriously affected the crypto market. Meanwhile, Celsius Network cited extreme market conditions behind it.
Meanwhile, there has been a boom in the installation of Bitcoin ATMs around the world. Coin ATM Radar gave this information in its recent report. According to reports, more than 882 bitcoin ATMs were installed in different parts of the world in the first ten days of June alone.
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