Cryptocurrency is a digital or virtual form of currency; it is also known as crypto. It uses the cryptography method to secure its transactions in digital form. Crypto uses the decentralisation method to record its transactions systematically and issue new units of crypto when it requires them. These types of digital-based currencies don’t have a proper regulatory system or authorities who can regulate the flow of transactions. Cryptocurrencies don’t have to rely on banks for their transaction verification.
Crypto currency transactions are fully digital-based, which means that the entire transaction amount is kept in digital wallets, and when an individual transfers their funds, it is recorded in the account’s public ledger. Crypto currencies are end-to-end encrypted, which means that they are safe and secure to use, and that’s how crypto gets its name.
Bitcoin was founded in 2009, and by those years, it had become the most widely known crypto currency and one of the most highly valued digital-based currencies. On Thursday, Bitcoin lost its value by 58,000 U.S. dollars, and as per the data from Coin Market Cap, other globally accepted crypto currencies other than Bitcoin, such as Dogecoin (DOGE), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and Solana (SOL), witnessed a fall of around 40 fear points out of 100, which is shown by indices like the Market Fear and Greed Index. While the Stacks token (STX) gained up to 8 percent, Flare (FLR) saw a decline of 7 percent. The world crypto market has witnessed a loss of 2.08 percent, and the current market has a record of 2.12 trillion U.S. dollars.
Bitcoin (BTC) price as per Thursday:
As per the Indian exchange platform Wazirx, the Bitcoin price settled at Rs. 51.88 lakhs in the past 24 hours, while coin market cap data states that Bitcoin saw a loss of 2.24 percent and settled at 57730.46 U.S. dollars in the same period.
Ethethereum (ETH) price as per Thursday:
Wazirx states that the ethereum price settled at 2.75 lakh Indian rupees as per the Thursday market, while ETH made a loss of 0.95 percent in 24 hours and the value stood at 3085.60 U.S. dollars at the time of record.
Dogecoin (DOGE) price as per Thursday:
Wazirx India states that the Dogecoin price settled at 9.89 Indian rupees as per the Thursday market, while DOGE made a loss of 1.80 percent in 24 hours and the value stood at 0.1077 U.S. dollars at the time of record.
Litecoin (LTC) price as per Thursday:
The LTC price stood at 6041.46 Indian rupees, and it recorded a gain of 67.18 U.S. dollars at a rate of 1.59% in the last 24 hours.
Ripple (XRP) price as per Thursday:
XRP has seen a gain of 0.25 percent and stands at 0.4412 U.S. dollars in the past 24 hours, while in India it stands at 39.45 Indian rupees.
Solana (SOL) price as per Thursday:
Solana saw a dip of 3.19 percent in the last 24 hours, and its price settled at 140.75 U.S. dollars. While, as per Wazirx data, Solana`s price in India stood at 12700 Indian rupees.
The highest gainers in Thursday`s market are:
as per the past 24 hours of data, Coin Market Cap Stacks (STX) with 7.91 percent, Mantra (OM) with 2.93 percent, Lido DAO (LDO) with 2.75 percent, Ondo (ONDO) with 2.68 percent, and Mantle (MNT) with 2.55 percent are the highest gainers in Thursday`s market, with a price level of $1.57 for STX, $0.9718 for OM, $1.63 for LDO, $0.9886 for ONDO, and $0.6814 for MNT, respectively.
The highest losers in Thursday`s market are:
As per the past 24 hours of data, Coin Market Cap Flare (FLR) with 7.43 percent, Avalanche (AVAX) with 7.18 percent, Dogwifhat (WIF) with 6.34 percent, Notcoin (NOT) with 5.75 percent, and Ethereum name service (ENS) with 5.74 percent are the highest losers of Thursday`s market, with a price level of $0.01843 for FLR, $25.40 for AVAX, $1.63 for WIF, $0.01588 for NOT, and $25.94 for ENS, respectively.
Edul Patel, who is the CEO and co-founder of Mudrex, states that Bitcoin dropped to 57,000 U.S. dollars from 58,000 U.S. dollars on Thursday because of the refund pressure from miners and Mt. Gox. While there is downward pressure that was created due to the fact that the German government has transferred and sold the seized bitcoin, If Bitcoin isn’t able to cross the price level of 58400 U.S. dollars, then there is a high chance of loss, and it may have to settle at 57200 U.S. dollars. Ethereum ended its trading session at 3100 U.S. dollars, which is a sign of relief and will work as a confidence booster for the traders.
https://www.kaspersky.com/resource-center/definitions/what-is-cryptocurrency
