The crypto price chart showed losses alongside most cryptocurrencies on Friday, January 6. With a small loss of 0.22 percent, Bitcoin opened trading at $16,848 (approximately Rs. 13.8 lakh). The asset followed a similar price trajectory on Binance and Coinbase among other international exchanges. In the past 24 hours, Bitcoin recorded a small price increase of $32 (approximately Rs. 2,640). Of BTC’s predetermined supply limit of 21 million tokens, 92 percent, amounting to more than 19 million tokens, are already in circulation.
Ether registered a loss of 0.41 percent. According to Gadgets 360 crypto price tracker, ETH opened trading at the price of $1,250 (approximately Rs. 1.03 lakh).
Among other losing altcoins, Polygon, Litecoin, Solana, Tron, Uniswap and Avalanche marked their names.
Stablecoins pegged to the US dollar such as Tether, USD Coin and Binance USD failed to take profits.
After days of continuous small gains, memecoins Shiba Inu and Dogecoin are showing losses on the price chart.
With most cryptocurrencies settling for dips in value, the global crypto market cap fell 0.50 percent over the past 24 hours.
At the time of writing, the global valuation of the crypto market stands at $816 billion (approximately Rs. 67,40,022 crore), the data showed by CoinMarketCap.
Among the small number of altcoins that saw gains, Cardano, Polkadot, Leo, Monero, and Iota registered their names.
“The crypto market started the week slow due to the holiday season, but picked up momentum later in the week. Bitcoin has been trading in a narrow range for the past few days, suggesting a lack of strong movement from bulls or bears. Sentiment for ETH remains somewhat bullish. Market volatility remained high after the Federal Open Market Committee minutes were released,” Edul Patel, the CEO and co-founder of Mudrex told Gadgets 360.
Amid growing use cases of cryptocurrencies and the blockchain technology, industry players are turning to space technology to refine the industries.
Earlier this week, a Falcon 9 rocket from Elon Musk’s SpaceX launched the Cryptosat team’s Crypto1 satellite into orbit on Jan. 3. Like its predecessor, this satellite is aimed at powering cryptographic, blockchain, and ledger applications. The physical accessibility of satellites makes them a secure information storage point, ensuring the confidentiality of sensitive data and calculations.
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