Ethereum, Solana, and other cryptos recover but Bitcoin is still struggling

Dec 9, 2021

By: BI India Bureau

Ethereum, Solana, Cardano

...And other leading cryptocurrencies are recovering after last week’s blood bath

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…All, except for Bitcoin

The world's oldest cryptocurrency

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Bitcoin is trading at $49,730

It’s still 11.4 percent in the red as compared to last week, and 1.2 percent down in the last 24 hours

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Meanwhile, Ethereum is up by 1.77 percent since yesterday

Trading at $4,382 — still considerably away from its all-time-high of $4,859

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Cardano and Solana are struggling too

Both are the in the green as compared to 24 hours ago, but in double-digit losses are compared to last week

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Solana is trading at $189

...Still 15.5 percent lower than last week

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Meanwhile, Cardano is trading at $1.37

...10.7 percent lower than last week

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Their peer, Polkadot, took an even bigger hit

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Despite some recovery, the market sentiment is still edging towards ‘fear’

Not just crypto, but all global markets have been on edge for multiple reasons

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The US Fed announced that inflation isn’t ‘transitory’ anymore

And, the Omicron COVID-19 variant has cast ‘lockdown’ fear for economies

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The only cryptocurrency in the top 10 with something to celebrate is Terra

Terra is building a global payments system with the stablecoin TerraUSD (UST)

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Terra’s token, Luna, is trading at $74.83

The cryptocurrency is up by 9.83 percent in the last 24 hours

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Terra surged to hit all-time-high of $77 on December 3 as others saw red

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Disclaimer

These are the top cryptocurrencies by volume according to CoinMarketCap | Prices updated as of December 9, 9 am IST and may change over the course of the day

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One of India’s top bankers warns of volatile times ahead in the markets ⁠— stocks, cryptos, bonds et al