Bitcoin, Ethereum, Cardano and others gain on ‘dip buying’

Feb 23, 2022 By: BI India Bureau

The prices of leading cryptocurrencies are in the green today

According to analysts, this is due to seller exhaustion and people ‘buying the dip’ Credit: Canva

Cardano and Terra Luna shot up as a result

Their values still remain far from their all-time-highs Credit: Canva

Cardano’s price stands at ₹67.18

It’s up by 9.3 percent since yesterday Credit: Canva

Meanwhile, Terra’s LUNA token is trading at ₹4,149

It's up by 9.8 percent over the course of the day. Credit: Canva

The relief may only be temporary

Macroeconomic factors continue to weigh heavy with Bitcoin losing its sheen as ‘digital gold’ Credit: Canva

This includes the impending rate hike by the US Fed

And the escalating tensions between Russia and Ukraine Credit: Canva

As things stand, Bitcoin, is priced at ₹28.1 lakh

The cryptocurrency up by 1.8 percent in the last 24 hours Credit: Canva

Ethereum is trading at ₹1.95 lakh

Its price has risen by 1.4 percent since yesterday Credit: Canva

Binance Coin’s rate is at ₹27,876

It has climbed by 4.6 percent over the course of the day Credit: Canva

Solana is priced at ₹6,474

It’s up by 4.6 percent since yesterday Credit: Canva

Polkadot’s value stands at ₹1,207

It’s up by 1.25 percent in the last 24 hours Credit: Canva

Avalanche is trading at ₹6,707

It’s up by 6.2 percent since yesterday Credit: Canva

Dogecoin is priced at ₹9.77

It has jumped by 5.5 percent in the last 24 hours Credit: Canva

Disclaimer

These are the top cryptocurrencies by volume according to Coinbase | Prices updated as of February 23, 8:30 am IST and may change over the course of the day Credit: Canva