Crypto Price Today: Bitcoin, Ether See Losses Alongside Majority Altcoins; Tether, Iota See Small Gains


Crypto charts on Wednesday, May 15 reflected losses after most cryptocurrencies. Bitcoin lost about one percent, taking its trading price to $66,124 (about Rs 55 lakh) on Indian exchanges like CoinDCX and Coinswitch. Meanwhile, on international exchanges, the most expensive crypto asset is trading at a slightly lower price of $61,945 (approximately Rs 51 lakh). BTC was unable to maintain the previous day's gains and faced downward pressure in the last 24 hours, due to which most altcoins also recorded losses.

Ether suffered a loss of 1.48 percent on Wednesday. With this, it is priced at $3,083 (approximately Rs 2.57 lakh) and $2,902 (approximately Rs 2.42 lakh) on national and international exchanges respectively.

“Technically, BTC and ETH continue to display volatile price action, staying within a range and experiencing liquidations on both sides. Funding rates are neutral, and the overall price action is mixed, although both cryptocurrencies are currently at key support levels. It will be important to keep an eye on today’s US CPI numbers as they are expected to have a significant impact on the market,” CoinDCX markets team told Gadgets360.

Along with Ripple, Cardano, Polkadot and Chainlink, Dogecoin joined the majority of cryptocurrencies to see losses on Wednesday.

Uniswap, Cosmos, Chronos, Stellar and Monero also recorded profits along with Polygon and Leo.

“Markets are expected to remain volatile in the coming weeks as inflation data will keep investors on their toes. However, financial sector luminary Raoul Pal has predicted a significant expansion of the cryptocurrency market, estimating that its market capitalization could reach $100 trillion,” said Shivam Thakral, CEO of BuyUcoin Toll Gadgets360. .

CoinMarketCap data on Wednesday showed that the total market cap declined by 1.45 percent to $2.26 trillion (roughly Rs. 1,88,70,887 crore) in the last 24 hours.

Tether, Floki Inu, Iota, Zcash and Status managed to register slight gains.

“In other news, Wisconsin in the US has become the first state to disclose purchases of Bitcoin after highlighting the purchase of more than 94,000 shares of BlackRock's iShares Bitcoin Trust (IBIT) in the first quarter of the year. Markets reacted positively to this development, but the narrative soon shifted towards better-than-expected inflation data,” CoinSwitch Markets Desk told Gadgets360.

In India, developments in the blockchain sector are making headlines. Earlier this week, CoinDCX announced the industry's first orchestration layer called Okto. Through a unified set of SDKs, Okto is empowering developers to easily integrate complex Web3 functionalities and flows into their applications while providing single-click mobile-native Web2-like experiences for their users.

India's blockchain gaming ecosystem Oneto11 is also planning global expansion starting with Latin America, Southeast Asia, and Africa regions.

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

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