Bitcoin and ETH trade sideways, majority of altcoins see gains
The crypto price chart on Tuesday, August 20, reflected gains alongside most cryptocurrencies. Bitcoin reflected a gain of 3.5 percent on international exchanges such as CoinMarketCap, while it saw a loss of 3.05 percent on Indian exchanges such as Bitbns. On foreign exchanges, BTC is trading at a price of $60,973 (approximately Rs. 51 lakh), while on Indian exchanges, the price of the most expensive cryptocurrency is within the range of $54,322 (approximately Rs. 45.5 lakh) and $64,417 (approximately Rs. 54.02 lakh).
“Bulls are showing their strength as Bitcoin’s dominance reaches 56 percent. This happened after Tron founder Justin Sun hinted through his tweet about China possibly lifting the ban on Bitcoin and other crypto assets. However, the main factor of this pump can be attributed to USD regaining some strength against the Japanese Yen,” CoinSwitch markets desk told Gadgets360.
Ether saw a small price drop of 0.69 percent in the last 24 hours on Gadgets360’s crypto price tracker, bringing the price of ETH to $2,463 (roughly Rs. 2.06 lakh). Meanwhile, on international exchanges, ETH is trading at $2,664 (roughly Rs. 2.23 lakh) after a small gain of 1.23 percent in the past day.
Solana, Zcash, Status and Braintrust joined BTC and ETH on the losing side of Gadgets360’s crypto chart on Tuesday.
Profitable cryptocurrencies included Tether, Binance Coin, USD Coin, Ripple, Dogecoin, Tron, Cardano, and Avalanche.
Shiba Inu, Polkadot, Bitcoin Cash, Chainlink, Leo, Litecoin, Near Protocol and Polygon also showed significant gains.
The total crypto market capitalization increased by 2.66 percent in the past 24 hours, taking the crypto sector valuation to $2.66 trillion (approximately Rs. 2,23,10,058 crore), according to MintMarketCap.
Speaking to Gadgets360, the CoinDCX team said: “The crypto market continues to show slow movement with BTC and ETH trading sideways. This week’s Jackson Hole Symposium, particularly Jerome Powell’s speech on August 23, could introduce volatility into the market.”
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