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Bitcoin, Ether Rise Again Pulling Up Majority Altcoins, Stablecoins See Dips

Bitcoin opened with gains on Thursday, July 14, days after being burdened with losses. The oldest cryptocurrency opened trading at $20,993 (roughly Rs. 16.70 lakh) after gaining profits by 2.33 percent on Indian exchange CoinSwitch Kuber. Even bigger gains rained over Bitcoin on international exchanges. On Binance and Coinbase for instance, BTC grew by nearly 4.20 percent to trade at $20,286 (roughly Rs. 16 lakh). In the last 24 hours, Bitcoin’s overall value has risen by 3.97 percent, showing signs of recovery.

Ether also found itself on the green side of the price chart as it opened trading on Thursday. Spiking by two percent, ETH is currently trading at $1,151 (roughly Rs. 91,800), Gadgets 360’s crypto price tracker shows.

Among other cryptocurrencies that saw gains, Binance Coin, Ripple, Cardano, Solana, Polkadot, and Tron emerged on the list.

While Shiba Inu reeled-in profits, Dogecoin remained affected by losses.

Talking of losses, Thursday did not open with gains for stablecoins.

Tether, USD Coin, and Binance USD, all saw dips.

Litecoin, Stellar, and Monero also saw losses.

The current market cap of the crypto sector stands at $897 billion (roughly Rs. 71,60,501 crore), as per CoinMarketCap.

In the coming days, the Bitcoin network may encounter some snags because majority BTC mining farms in Texas, US have halted their operations owing to extreme heat conditions. The power supplier of the state has advised BCT miners to take a breather so that power supply in the region is not disrupted.

In other news, the US Treasury has opened gateway for public suggestions on crypto laws. The last date of submitting the suggestions has been decided as August 8.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article. 

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