Bitcoin on Monday, November 27 reflected a loss of 1.24 percent. At the time of writing, the value of Bitcoin stood at $37,238 (roughly Rs. 31 lakh). The month of November this year, proved to be profitable for the crypto sector and especially for Bitcoin. The most expensive cryptocurrency started this month at the price point of $34,397 (roughly Rs. 28.6 lakh). In the last three weeks, the asset has managed to grow up to $38,000 (roughly Rs. 31.6 lakh).
Ether showed a price drop of 1.48 percent on Monday. The second largest crypto asset by valuation, Ether, is presently trading at the price point of $2,043 (roughly Rs. 1.70 lakh).
“A successful break and sustained hold above $38,000 (roughly Rs. 33.9 lakh) would be considered a bullish sign. For ETH, overcoming the crucial resistance at $2,130 (roughly Rs. 1.9 lakh) is essential for a bullish scenario. A solid close above this level could propel the price higher,” the CoinDCX research team told Gadgets360.
Majority cryptocurrencies recorded losses today. These include Binance Coin, Ripple, Solana, Cardano, and Dogecoin.
Tron, Chainlink, Polygon, Avalanche, Polkadot, Litecoin, Shiba Inu, and Bitcoin Cash are also all trading in losses today.
The overall crypto market valuation dipped by 1.12 percent in the last 24 hours. It currently holds the value point of $1.42 trillion (roughly Rs. 1,18,39,313 crore), showed CoinMarketCap.
Only a handful of cryptocurrencies managed to record gains today. These include Leo, Cosmos, Uniswap, Binance USD, and Iota.
Small gains were also reflected by Braintrust and Circuits of Value.
“Axie Infinity (AXS) has been one of the highest gainers as it jumped 15.9 percent in the last 24 hours. According to the data from DappRadar, the play-to-earn blockchain game recorded an increased demand in November; the number of wallets interacting with the game increased by 30 percent. In addition to the recent uptick of DeFi, decentralised exchange dYdX is set to unlock $500 million (roughly Rs. 4,168 crore) of tokens in its first significant emission,” Parth Chaturvedi, Investments Lead, CoinSwitch Ventures told Gadgets360.
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.