Cardano rises as the crypto market battles ‘extreme fear’

Jan 18, 2022

By: BI India Bureau

While Bitcoin, Ethereum, and most altcoins are bleeding red

There is one cryptocurrency that has been bucking the trend…

Credit: Canva

Cardano outshines the rest

It’s currently at ₹118.01 after surging 7 percent in the last 24 hours

Credit: Canva

The ‘Ethereum Killer’ has gained over 40 percent in the last week

However, ₹118 is still a far cry from it’s all-time-high of ₹230

Credit: Canva

Cardano’s rise comes from the hype around it’s metaverse project, Pavia

Credit: Canva

After having sold more than half of the digital land available on Pavia in 2021

The remaining plots are set to be auctioned before March 2022

Credit: Canva

This comes at a time when ‘extreme fear’ has gripped the global cryptocurrency market

The overall market cap currently stands at $2 trillion

Credit: Canva

Bitcoin, the largest cryptocurrency, is currently trading at ₹31.35 lakh

It’s down by 1.64 percent in the last 24 hours

Credit: Canva

Ethereum has taken an even bigger hit of 3.24 percent

The cryptocurrency is currently trading at ₹2.37 lakh

Credit: Canva

Binance Coin is priced at ₹35,320

It’s down by 1.92 percent in the last 24 hours

Credit: Canva

Cardano’s contemporary, Solana, is trading at ₹10,378

It has dipped by 2.64 percent since yesterday

Credit: Canva

Meanwhile, Polkadot is priced at ₹1,903

It’s down by nearly 4 percent in the last 24 hours

Credit: Canva

Avalanche is at ₹6,438

It’s also down by nearly 4 percent in the last 24 hours

Credit: Canva

However, Terra’s LUNA token has taken a considerably bigger blow than the rest

The cryptocurrency is down by 7.5 percent, trading at ₹5,764

Credit: Canva

Polygon’s MATIC is another among the heavy losers

It’s down by over 8 percent, currently priced at ₹164.58 apiece

Credit: Canva

Disclaimer

These are top cryptocurrencies by volume according to Coinbase | Crypto prices in rupees updated as of January 18, 8:30 am IST and may change over the course of the day.

Credit: Canva

What would happen to Twitter if Elon Musk backs out now?