Crypto Price Today 543x2g Bitcoin, Ether See Small Losses, Most Altcoins Reflect Price Dips

Bitcoin is presently trading at the price point of $66,695 (roughly Rs. 55.6 lakh) on Indian exchanges like CoinSwitch. 4h3c35

Written by Siddharth Suvarna | Updated: 8 May 2024 11:31 IST

Crypto Price Today: Bitcoin, Ether See Small Losses, Most Altcoins Reflect Price Dips

Photo Credit: Pixabay/ Dean Crosby 1f4h1v

The crypto sector valuation, as of May 8, stands at $2.31 trillion

Highlights

Tether, Solana saw losses
Binance Coin, Tron saw minor gains
Stellar, Cronos also ed price dips

ment

Bitcoin on Wednesday, May 8 showed a minor dip of 1.45 percent which it incurred over the last 24 hours. The asset, most expensive on the crypto chart, is presently trading at the price point of $66,695 (roughly Rs. 55.6 lakh) on Indian exchanges like CoinSwitch. On international exchanges like CoinMarketCap, the value of Bitcoin is hovering over the mark of $62,600 (roughly Rs. 52.2 lakh). In a noteworthy development, Bitcoin has clocked one billion transactions this week for the first time since its inception in 2015.

“The now lies at the $61,500 (roughly Rs. 51.3 lakh) level and the resistance is at the $64,500 (roughly Rs. 53.8 lakh) level. We are likely to see a range bound trading for few days as Bitcoin has not acquired enough strength to make an upward move,” Edul Patel, CEO of Mudrex told Gadgets360.

Ether has been performing better than Bitcoin in recent days. The second most popular crypto asset after BTC, ETH is presently trading at $3,194 (roughly Rs. 2.66 lakh) after logging a small loss of 1.78 percent. On foreign exchanges like CoinMarketCap, the asset is priced at $3,009 (roughly Rs. 2.51 lakh).

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Majority cryptocurrencies reflected losses on Wednesday. These include Chainlink.

Stellar.

“Shiba Inu indicates mild bullish signs with an anticipation of further sell off upon a price increase. Cardano's list of backers have remained strong even as the token goes through a cooling period. It holds a strong zone which has been historically important,” Rajagopal Menon, Vice President, WazirX told Gadgets360.

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The overall crypto market cap slipped by 0.76 percent in the last 24 hours. With this, the sector valuation has come to the mark of $2.31 trillion (roughly Rs. 1,92,87,044 crore), shows CoinMarketCap.

Profit making cryptocurrencies, meanwhile, included Leo.

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Cryptocurrency Prices across Indian exchanges

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Further reading: Circuits of Value

Radhika Parashar

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Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at [email protected]. More