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Cryptocurrency prices today: Bitcoin, Ether slide as volatility dents overall market – India Today

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Cryptocurrencies have weakened over the past 24 hours due to volatility in the virtual coin market, triggered by weak investor confidence and lack of demand after the recent correction.
Bitcoin, the world’s largest cryptocurrency, was trading at $55,914.94 or 2.64 per cent lower than its price 24 hours ago at 2:00 pm. The market capitalisation of the cryptocurrency decreased to $1.06 trillion and the trading volume over the past 24 hours was $1.52 billion.
Ether was trading at around $4,100 or 2.56 per cent lower than its price 24 hours ago. The cryptocurrency’s market capitalisation fell to $481.63 billion and the 24-hour trading volume was $1.10 billion.
From the magazine | The crypto mania
All other popular cryptocurrencies, including Solana, XRP, Cardano, Polkadot, Stellar, Dogecoim, Chainlink, Shiba Inu, Uniswap and Litecoin also fell due to the weak crypto market momentum.
However, a possibility of another bumper rally seems difficult this month, unless there is any major development surrounding the virtual coin market.
Commenting on the cryptocurrency market momentum, Edul Patel, CEO and Co-founder of Mudrex, a global algorithm-based crypto investment platform, said, “Over the past 24 hours, the cryptocurrency market remained in a consolidated phase.”
“The largest crypto by market cap, bitcoin, broke below the support level at $57,000. The altcoins are doing relatively better with Ethereum being able to hold the $4100 mark,” he added.
“The coming 24 hours would likely remain volatile with bears trying to pull the market lower than the current levels.”
Watch | Cryptocurrency: Indian Government to create new bill for the digital currency
Cryptocurrency
Price (US Dollar)
24-hour change
Market cap
Volume (24 Hours)
Bitcoin
55,896.15
-2.89%
$1.06 trillion
$1.52 billion
Ether
4,098.75
-2.54%
$481.47 billion
$1.10 billion
Dogecoin
0.217669
-2.55%
$28.75 billion
$1.05 billion
Litecoin
206.30
-4.22%
$14.27 billion
$89.35 million
XRP
1.03
-1.26%
$103.43 billion
$2.99 billion
Cardano
1.77
-2.00%
$58.14 billion
$135.68 million
DISCLAIMER: The cryptocurrency prices have been updated as of 02:15 pm and will change as the day progresses. The list is intended to give a rough idea regarding popular cryptocurrency trends and will be updated daily.
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Intel, Block Supporting Mining a Positive for Bitcoin’s Price: Analyst – CoinDesk

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Large tech companies such as Intel and Block (previously Square) delving into making mining more efficient and accessible is likely to help the price of bitcoin by encouraging mass adoption, said an analyst for U.K-based digital asset broker GlobalBlock.
Intel, one of the world’s largest chip makers, said on Jan. 18 it will unveil an “ultra low-voltage bitcoin mining ASIC” which will be a more efficient specialized mining computer, competing with current miners that are in the market. “The fact that a $200+ billion tech firm is providing solutions for Bitcoin mining is more confirmation of big players entering the crypto space,” said GlobalBlock’s analyst Marcus Sotiriou.
The chipmaker said its new miner will reduce power consumption by about 15%, Sotiriou said, adding that such an increase in efficiency will help more institutional investors to enter the sector as ESG (environmental, social and governance) is one of their key investment priorities. If such a scenario plays out, it will likely help support bitcoin’s price.
Read more: How Bitcoin Mining Works
Crypto miner Griid Infrastructure, which is going public via a merger with special purpose acquisition company Adit EdTech Acquisition Corp., has already signed a supply agreement with Intel to potentially buy the chip maker’s new ASIC miners, according to a filing.
Meanwhile, payments giant Block said on Jan. 13 that it’s going ahead with its plan to build an open-source bitcoin mining system to make “mining more distributed and efficient.” If this feature is integrated with Cash App, it might increase the use of bitcoin to pay for goods and services by its users, furthering bitcoin adoption by the masses, Sotiriou noted.
“If successful, this will dramatically increase bitcoin’s use case as a means of exchange, rather than just a store of value – this would result in significantly more adoption and hence help bitcoin reach price figures of over $100,000,” he said.
Bitcoin is now trading near $42,000 since reaching its all-time high of just under $69,000 in November. The stocks of some miners, which are highly leveraged to the price of the crypto currency they mine, have tumbled more than 50% since their peak.
DISCLOSURE
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Aoyon Ashraf
Aoyon Ashraf is crypto mining reporter with more than a decade of experience in covering equity markets
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The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
@2021 CoinDesk

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Dogecoin value 2022: Why did Elon Musk make the cryptocurrency's value rise? – Marca English

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Dogecoin’s value increased by 5,859% over the past 12 months
Dogecoin rose to $0.20 – a 15% increase in value – after billionaire Elon Musk announced Tesla would accept the cryptocurrency for purchasing merchandise.
The cryptocoin with the shiba inu dog meme originally started as a joke, but Musk’s various tweets about it have helped Dogecoin increase by 5,859% over the past 12 months, according to Coinbase. Tesla’s website started accepting Dogecoin soon after, with items such as an electric quad bike for kids priced at 12,020 doge ($2,368), the “Giga Texas Belt Buckle” for 835 doge ($156), and a whistle for 300 doge ($57).
This is just one of many tweets by Musk regarding Dogecoin, the first one coming December 20, 2020 when he tweeted, “One Word: Doge.” Shortly after his tweet, the value of Dogecoin rose by 20%.
Musk followed that post with a barrage of Dogecoin-related tweets in February 2021, including, “Dogecoin is the people’s crypto,” and “no highs, no lows, only Doge”. After these tweets, Dogecoin’s value soared by roughly 40%.
After a full year of showing support for Dogecoin, on December 14 Musk said Tesla would accept the cryptocoin to pay for merch. Dogecoin spiked more than 20% after his tweet.
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This mom quit her job to focus on crypto full time and build 'generational wealth.' Now she makes around $80,000 per month – CNBC

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This mom quit her job to focus on crypto full time and build ‘generational wealth.’ Now she makes around $80,000 per month  CNBC
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