Ethereum remains below $19,000 as Ether and other Altcoins continue to slide over the weekend

Ethereum remains below $19,000 as Ether and other Altcoins continue to slide over the weekend ...

Bitcoin and the majority of popular altcoins spent the majority of the weekend in the red and continued to fall until early Monday as the US Federal Reserve increased interest rates. As things stand, Bitcoin''s value had dropped by 0.43 percent in the last 24 hours, with its price now approaching the $18,800 (roughly Rs. 15.32 lakh) mark across international markets, while Indian exchanges like CoinDCX valued BTC at $20,043 (roughly Rs. 16.34 lakh), 0.03 percent lower than that on early Sunday.

Bitcoin''s price is now at $18,820 (roughly Rs. 15.34 lakh) on global exchanges, according to CoinGecko statistics. BTC''s value is now 3.4 percent lower than it was last Monday.

Ether, the most popular smart contracts token, has also left most of its gains during and following the Merge. Ether is currently down by more than 1.62 percent in the past 24 hours, trading in the $1,290 (roughly Rs. 1.05 lakh) range across global markets. Meanwhile on Indian exchanges, ETH is valued at $1,374 (roughly Rs. 1.12 lakh) where values are down by 1.91 percent in the previous day.

The cryptocurrency price tracker for Gadgets 360 shows that most major altcoins experienced a similar down the weekend. The worldwide crypto market capitalization also saw a 1.51 percent drop between late Wednesday and early Thursday.

Cardano, Avalanche, Uniswap, Cosmos, Solana, Polygon, TRON, Monero, Chainlink, and BNB have all experienced significant declines in the last 24 hours.

Memecoins Shiba Inu and Dogecoin share a similar situation. Dogecoin is currently valued at $0.06 (roughly Rs. 4.96) after losing 2.91 percent in value over the last 24 hours, while Shiba Inu is currently valued at $0.000011 (roughly Rs. 0.000889), down 0.4 percent over the past day.

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In the wake of rising selling pressure in the global markets, Bitcoin, the world''s largest cryptocurrency, has continued to thrive. A price of Bitcoin has dropped by less than $19,000 (approximally 15.48 lakh) with analysts anticipating a further drop.

Bitcoin whale holdings continue to rise for 100 months in a row as per on-chain data provider Santimenr. Despite fears of inflation and a global recession, "addresses holding 100 to 10k $BTC have lowered their percentage of supply held of #cryptos'' top asset to 29-month lows."

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