Best cryptocurrency prices today: Bitcoin, Solana is losing its charm; Polkadot gathers 4%

New Delhi: The cryptocurrency market traded mixed on Monday. Traders were however returning to riskier assets after a holiday break. Markets will wait for global signals for a sharp move in any direction.

Six of the top 10 digital tokens were trading higher at 8:30 am IST, while the remaining four were trading lower. Bitcoin, as well as Solana and Terra lost ground, while Polkadot and Ethereum were up 4%.

The global crypto market cap was almost stable at $ 2.24 trillion from the last day. Total crypto market volume fell more than 35% to $ 89.94 billion.

Bitcoin ended the record year with a difficult finish. The largest cryptocurrency by market value closed in December with a decline of 19%, its biggest monthly loss since May.

It was also its worst December since 2013. And its 60% advance in 2021 marked its smallest gain for a year up since 2015, when it climbed 36%.

What do we cook in India?
Unprecedented interest from retail investors as well as venture investors has made 2021 the year of cryptocurrency in India, just like the rest of the world. It also prompted regulators to take note.

The government had the cryptocurrency bill listed for consideration in Parliament’s budget and winter session last year, but it has yet to be tabled. Stakeholders are closely monitoring developments as the new budget session approaches.

The industry has grown in terms of investor awareness, a rush to regulate the nascent industry, and an influx of venture capital. India has attracted crypto funding and blockchain investments worth $ 638 million over 48 rounds in 2021, according to data from industry tracker Tracxn. Globally, funding for crypto and blockchain investments was $ 24.86 billion over 930 funding cycles.

Expert advice
Opensea yesterday recorded the highest daily sales volume of the past two months. NFT collections like MAYC, deadfellas have seen a 300% rise this week, and they can continue to dominate the market, said Hitesh Malviya, founder of Itsblockchain. “Volume is back in NFTs. We can expect some bullish potential to come. ”

Global Updates
Among the three biggest digital tokens in terms of market value, Binance Coin or BNB significantly outperformed its two biggest rivals Bitcoin and Ether. The coin – issued by crypto exchange Binance Holdings – gained around 1,300% in 2021, according to Arcane Research.

Bitcoin continues its December retreat and is testing a key technical level that over the past two years has tended to act as a floor for the world’s largest cryptocurrency.

Buzz NFT
NFT is a growing subset within the crypto space and “Bored Ape Yacht Club” is one of the most popular, which is a collection of 10,000 NFT Bored Ape hosted on the Ethereum blockchain, WazirX said. Trade Desk.

The value of the NFT space has been recognized by people in the entertainment industry, with the latest purchase made by one of the most popular rappers, Eminem. He bought the ‘Bored Ape Yacht Club’ for $ 450,000 and people found out that he owns 166 other NFTs.

He is among peers like Jimmy Fallon, Post Malone, Shaquille O’Neal and Marshmello, who are also members of the “Bored Ape Yacht Club”, he added. “With more and more industry titans participating in the NFT space, the space is becoming more and more believable.”

Back home, Indian cryptocurrency exchanges seem to have gained the upper hand over non-fungible tokens (NFTs). At least a half-dozen crypto platforms are breaking into the NFT space, assuming it wouldn’t be banned because NFTs hold an underlying asset that is traded digitally.

Technical view of Proassetz Exchange
Matic is currently outperforming relative to many other cryptos, including Bitcoin. It is moving in an uptrend, which is evident from its series of higher highs in the daily chart (shown in the diagram), mostly trading on large moving averages and also momentum oscillators like ROCs at 50 and 100 days are positioned healthy.

Bloomberg

For the past week, however, Matic has been undergoing an intermediate corrective phase. But once it crosses above $ 2.575, the uptrend is expected to resume and December’s $ 2.87 high will likely be called into question again.

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