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…

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Cardano outshines the rest

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

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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

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

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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

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

The overall market cap currently stands at $2 trillion

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

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

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Ethereum has taken an even bigger hit of 3.24 percent

The cryptocurrency is currently trading at ₹2.37 lakh

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Binance Coin is priced at ₹35,320

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

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

It has dipped by 2.64 percent since yesterday

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Meanwhile, Polkadot is priced at ₹1,903

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

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Avalanche is at ₹6,438

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

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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

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Polygon’s MATIC is another among the heavy losers

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

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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.

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