Bitcoin, Ether Among Majority of Cryptocurrencies to Open Last Day of 2021 With Gains, Only Few See Dips

As we enter the last day of the year 2021, crypto charts look healthy and wash green. Bitcoin, with a profit of 0.73 percent, kept its trading value at $ 51,007 (approximately Rs. 37.9 lakh) as the Indian exchange CoinSwitch Kuber. In international exchanges such as CoinMarketCap and Binance, the world’s oldest cryptocurrency trades at about $ 47,209 (approximately Rs. 35 lakh) per token.
The last few days have been tough for Bitcoin which has fallen from its all-high high of $ 69,000 (approximately Rs. 51 lakh) last month and has struggled to maintain even the slightest growth since then.
Ether has followed Bitcoin to register a profit of 1.61%. According to the crypto price of Gadgets 360, each Ether token currently trades at $ 4,060 (approximately Rs. 3,01,877).
Cardano, Ripple, Polkadot, Dogecoin, Shiba Inu, and Polygon are among the other popular cryptocurrencies that have registered profits along with Bitcoin and Ether.
Lots of currencies like Tether, USD Coin, and Bitcoin Cash failed to rise and saw a loss on the last day of 2021.
Industry experts have predicted that as Bitcoin strengthens its dominance with small but sustained profits, altcoins will see growth in the near future.
The largest cryptocurrency with market capitalization, Bitcoin, remained above the $ 47,000 mark (approximately Rs. 35 lakh) and Ether walked above $ 3,700 (approximately Rs. 2.75 lakh).
Most of the high altcoins remain tied to the range following indications from two major cryptocurrencies. Bitcoin rule indicates that altcoins may have a better time in the coming days, ”Edul Patel, CEO and founder of crypto investment firm Mudrex, told Gadgets 360.
The year 2021 has emerged as a milestone for the crypto space.
El Salvador accepted Bitcoin as an official tender in September, guaranteeing a crypto space significantly.
The first Bitcoin futures trading fund (ETF) was launched on the New York Stock Exchange (NYSE) in October, which pushed the value of Bitcoin to a much higher level.
This year, crypto-related companies have also been able to raise more than $ 30 billion (approximately Rs. 2,27,617 crore) from venture capital, which has quadrupled since 2018.
The cryptocurrencies backed by cryptocurrencies have seen a major global explosion, making the area “too big to ignore”, a report by the Bank of America (BofA) earlier this year.
Consolidation and acquisition in the crypto space also increased from $ 940 million (approximately Rs. 7,025 crores) by 2020 to $ 4.2 billion (Rs. 31,390 crores) by 2021, a BoFA report shows.
In the US, cryptocurrencies such as Shiba Inu and Dogecoin have also been found to be available as daily payment options such as movie tickets and gift cards.
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