Bitcoin's biggest cryptocurrency collapsed by more than 37 percent, making its worst monthly performance since 2011. Since then, Bitcoin has been consolidating at around $20,000 (roughly Rs. 16.05 lakh) levels across global exchanges, while Indian exchange CoinSwitch Kuber values Bitcoin at $20,892 (roughly Rs. 16.5 lakh).
Bitcoin is worth $20,304 (roughly Rs. 16.05 lakh) on global exchanges, while CoinGecko data shows that the value of BTCs is currently down by 1.8 percent week-to-day.
Ether is valued at $1,188 (roughly Rs. 94,000) on CoinSwitch Kuber, while prices on international exchanges show the cryptos at $1,163 (roughly Rs. 92,003), which has increased by 10.34 percent in the last 24 hours.
According to CoinGecko data, Ethers' price has risen in the last 24 hours, but its value has remained stable at a further 2.3 percent compared to its value last week.
The Gadgets 360 cryptocurrency price tracker shows that a number of major altcoins have made significant gains in the last 24 hours as the global crypto market capitalization increased by 5.3 percent. BNB, Solana, Polkadot, Stellar, Avalancheand Cardano all made significant gains, while Polygon, Uniswapand Cosmos made significant gains.
Dogecoin and Shiba Inu, both memecoins, have also experienced some ups on the day. Dogecoin is currently valued at $0.07 (roughly Rs. 5.6) after gaining some 2.73 percent in value over the last 24 hours, while Shiba Inu is currently valued at $0.000011 (roughly Rs. 0.000865).
Vault, a Singaporean crypto lending and trading platform, announced on Monday that it would stop withdrawing and trading and seek new investors, the latest sign of stress in the struggling cryptocurrency industry.
Vault said it has hired legal and financial advisors, is in discussions with potential investors, and will apply to the Singapore courts for a moratorium that would allow any proceedings against it to be halted in order to give it time to do a reorganization.
A series of downturns have shook the crypto industry in recent months, including the collapse of algorithmic stablecoin TerraUSD, a big US-based lender Celsius network, which has halted withdrawals, and the Singapore-based crypto hedge fund Three Arrows Capital, which has been forced to liquidate.
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