BTC, ETH See Miniscule Gains, Losses Strike Stablecoins Tether, USD Coin

Bitcoin opened trading on Friday, December 30 with a small gain of 0.08 percent. At the time of writing, BTC prices on national and international exchanges stand at $16,585 (approximately Rs. 13.7 lakhs). From the last all-time high of $68,000 recorded last November, the year 2022 pushed Bitcoin down the price ladder very drastically. Now, on the penultimate day of the year 2022, BTC has marked a significantly low value. The crypto price charts reflected red next to green as crypto prices fluctuated wildly for most coins.

Ether saw a small gain of 0.79 percent as it entered the trading arena. ETH, according to Gadgets 360’s crypto price tracker, is currently priced at $1,196 (approximately Rs. 99,020).

Like BTC, ETH also dropped dramatically low in terms of value this year. The last recorded all-time high in November 2021 was around $4,890 (approximately Rs. 4.04 lakh).

Binance Coin, Polkadot, Litecoin, Uniswap and Solana joined BTC and ETH to rake in small profits.

Cosmos, Stellar and Bitcoin SV also settled with small gains.

Both meme coins, Shiba Inu and Dogecoin also saw small price increases on the penultimate day of 2022. While DOGE costs $0.070 (approximately Rs. 5.80), SHIB price stands at $0.0000081 (approximately Rs. 0. 000670).

It is noteworthy that stablecoins pegged to the US dollar opened trading today with losses. These include Tether, USD Coin, Ripple and Binance USD.

Other popular altcoins such as Cardano, Polygon, Tron, Avalanche, and Wrapped Bitcoin also recorded price declines.

The overall crypto market is up 0.09 percent in the past 24 hours. From CoinMarketCapthe global crypto market capitalization stands at $795.8 billion (approximately Rs. 65,87,835 crore).

Despite the ongoing crypto slump, industry players have not lost all hope.

For example, Huobi crypto exchange has revealed its plans to introduce a card service soon, which would make fiat-to-crypto transactions efficient and just a tap away.

On the other hand, KuCoin Labs, the incubation arm of KuCoin crypto exchange, has announced a special program to help blockchain builders create products and services in the metaverse, NFT, and the Gamefi sectors.

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