With a small profit of 0.70 percent, BTC is trading at the price point of $16,988 (roughly Rs. 14 lakh).
- Bitcoin Sees Profit Spike as Ether, Other Altcoins Record Losses: All Details
- BTC, ETH Open with Price Dips, Polkadot and Monero Emerge Among Gainers
- BTC Opens at $16,570, ETH Joins Stablecoins in Recording Losses: First Monday of 2023
The crypto market rallied with gains on Wednesday. With a small profit of 0.70 percent, BTC is trading at the price point of $16,988 (roughly Rs. 14 lakh), according to Gadgets 360's crypto price tracker. BTC also moved in a similar trajectory on international exchanges, such as Coinbase, Binance, and CoinMarketCap. Disappointingly for the market riders, it has been nearly three weeks since BTC has continued to trade below the mark of $17,000 (roughly Rs. 14.05 lakh).
Ether closely followed BTC to register minor gains on Wednesday. With a gain of 0.63 percent, ETH is presently priced at $1,263 (roughly Rs. 1.04 lakh), Gadgets 360's price tracker shows.
Most cryptocurrencies reeled-in gains on Wednesday.
Profit-making altcoins include Tether, Binance Coin, USD Coin, Binance USD, and Ripple.
Polygon, Polkadot, Tron, and Avalanche also witnessed minor profits.
Meanwhile, losses also reflected for some altcoins, such as the memecoins DOGE and SHIB.
Cardano, Litecoin, Solana, Uniswap, Chainlink, and Cosmos also saw losses on Wednesday.
The overall crypto market rose by a miniscule 0.01 percent in the last 24 hours. Its current valuation stands at $853 billion (roughly Rs. 70,46,895 crore), CoinMarketCap shows.
Several crypto firms have had to lay off chunks of their workforces over the past couple of weeks, to keep their respective businesses afloat. Singapore-based ByBit crypto exchange is the latest crypto exchange that announced a 30 percent reduction in its staff earlier this week.
To help the crypto market regain investors' trust, Goldman Sachs is reportedly looking to buy or invest in crypto firms that are struggling to overcome the aftermath of the FTX crypto collapse.
