Along with bitcoin, ether also jumped 3.14%. According to Gadgets 360’s crypto price tracker, currently, Ether is trading at $3,619 (roughly Rs.
Cardano, Ripple, Polkadot and Polygon have also emerged as gains today.
After weeks of price drops, even meme-based Dogecoin rivals Dogecoin and Shiba Inu climbed the price ladder. While DOGE is currently trading at $0.18 (approximately Rs.13), SHIB is priced at $0.0000035 (approximately Rs.0.002555).
Industry experts have predicted a “rapid return” of crypto market momentum in the coming days.
“Cryptocurrency markets are likely to correct as US inflation rises to a 39-year high of 7% and slides into the greenback, sending the economy into a state of flux and Asia Pacific markets opening mixed. As investors hedge their bets back into crypto, the digital asset has once again reclaimed its status as a safe-haven asset.As US inflation shows more staying power, we can expect We believe that the crypto market will track its rapid returns,” the CoinDCX research team told Gadgets 360.
Despite overall market growth, some cryptocurrencies failed to register gains.
Tether, USD Coin, Chainlink, and Uniswap were hit with minor losses.
Meanwhile, many celebrities have found themselves trapped in the crypto sector for different reasons.
NBA players Klay Thompson and Andre Iguodala on the Golden State Warriors team have decided to take a portion of their salaries in bitcoin. The players have also revealed that they will donate $1 million (approximately Rs 7.38 crore) in bitcoin among fans.
On the other hand, former NBA player Paul Pierce has landed himself in trouble for promoting a cryptocurrency called EthereumMAX (eMax), which soared overnight and lost up to 98 percent in value a few days later, prompting investors to backtrack last year. Had to spend a lot of money.
Pierce, along with reality TV star Kim Kardashian and American boxer Floyd Mayweather, are now facing legal scrutiny for promoting EMAX through their social networking accounts.
Cryptocurrency is an unregulated digital currency, is not legal tender and is subject to market risks. The information in this article is not intended to be financial advice, trading advice or any other advice or a recommendation of any kind offered or endorsed by NDTV. NDTV shall not be liable for any loss arising out of any investment based on any alleged recommendation, forecast or any other information contained in the article.
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