Bitcoin is an uncontrolled digital money that is not legal tender and is vulnerable to market hazards. The information in this article is not meant to be, and does not constitute, financial advice, trading advice, or any other type of advice or recommendation supplied or supported by NDTV. NDTV shall not be liable for any loss incurred as a result of any investment made based on any apparent recommendation, forecast, or other information provided in the article.
The month of June 2022 was terrible in terms of Bitcoin and larger market correction. The world's largest cryptocurrency fell by more than 37% in one month, marking its worst monthly performance since 2011. Since then, Bitcoin has been consolidating around $20,000 (approximately Rs. 15.8 lakh). As of now, the price of the world's largest cryptocurrency by market value is hovering around the $20,300 (approximately Rs. 16.05 lakh) mark on worldwide exchanges, while Indian exchange CoinSwitch Kuber rates Bitcoin at $20,892 (about Rs. 16.5 lakh), up 5% in the last 24 hours.
On worldwide exchanges such as CoinMarketCap, Coinbase, and Binance, the price of Bitcoin is currently $20,304 (approximately Rs. 16.05 lakh), while CoinGecko statistics shows that BTC's value is currently down by 1.8 percent.
Bitcoin is presently trading at $20,304 (approximately Rs. 16.05 lakh) on worldwide exchanges such as CoinMarketCap, Coinbase, and Binance, while CoinGecko statistics reveals that BTC's value is down 1.8 percent week on week.
Despite Ether's price change over the last 24 hours, the cryptocurrency's worth is 2.3 percent higher than it was last week, according to CoinGecko data.
According to Gadgets 360's cryptocurrency price tracker, a number of significant altcoins gained value during the last day, while the worldwide crypto market capitalisation increased by 5.83 percent in the last 24 hours. BNB, Solana, Polkadot, Stellar, Avalanche, and Cardano all saw significant gains, while Polygon, Uniswap, and Cosmos led the way with double-digit gains.
Shiba Inu and Dogecoin have also seen modest gains over the day. Dogecoin is presently around $0.07 (about Rs. 5.6), up 2.73 percent in the last 24 hours, while Shiba Inu is worth $0.000011 (roughly Rs. 0.000865), up 4.98 percent in the last day.
Meanwhile, the value of ether has increased significantly. At the time of publication, Ether is worth $1,188 (about Rs. 94,000) on CoinSwitch Kuber, while it is worth $1,163 (roughly Rs. 92,003) on worldwide exchanges, where it has gained 10.34 percent in the last 24 hours.
Vauld, a Singapore-based crypto lending and trading platform, announced on Monday that it will cease withdrawals and trading and seek new investors, the latest hint of strain in the market.
Vauld said it had hired legal and financial experts, was in talks with potential investors, and would also apply to the Singapore courts for a moratorium, which would delay any proceedings against it while it restructured.
In recent months, the crypto industry has been rocked by a string of failures, including the failure of algorithmic stablecoin TerraUSD, the suspension of withdrawals by huge US-based lender Celsius network, and the liquidation of Singapore-based crypto hedge fund Three Arrows Capital.
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