BTC, ETH Step into September with Small Losses, Majority Altcoins Follow

After a roller-coaster market ride in August, the crypto world stepped into the month of September with more reds than greens on the first day. Bitcoin, on Thursday, September 1, entered the trading arena with a miniscule price dip of 0.24 percent. As per Indian exchange CoinSwitch Kuber, BTC is currently trading at $20,000 (roughly Rs. 16 lakh). Tiny losses also struck Bitcoin on international exchanges. On CoinMarketCap and Binance, for instance, BTC slipped on the price ladder by 0.61 percent to trade at around the same price point of $20,000.

Ether entered September with reeling-in fatter losses than BTC. ETH dipped by 2.54 percent to trade at $1,542 (roughly Rs. 1.20 lakh) as per Gadgets 360’s crypto price tracker.

Majority altcoins including Tether, Binance Coin, Binance USD, Ripple, Cardano, and Solana registered losses.

Both memecoins Dogecoin and Shiba Inu also failed to bag gains.

According to CoinMarketCap, the global crypto market cap ducked by 0.88 percent over the past 24 hours.

At present, the market valuation of the crypto industry stands at $983.35 billion (roughly Rs. 78,22,400 crore).

Amid the market volatility, Polygon and Stellar emerged as altcoins that managed to score small but significant gains.

In fact, UNUS SED LEO, NEAR Protocol, Terra, and Doge Killer also contributed with greens on the otherwise red-dominated price charts.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article. 

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