The crypto market bounced back to recovery after most of the cryptocurrencies opened with losses on September 1. Bitcoin on Friday, September 2, opened with a minor loss of 0.40 percent. As per Indian exchange CoinSwitch Kuber, the cryptocurrency did manage to retain its price point of $19,976 (roughly Rs. 16 lakh). Small losses also hit BTC on international exchanges. As per Binance and CoinMarketCap, for instance, BTC is trading at $20,002 (roughly Rs. 16 lakh) after incurring losses of around 0.40 percent.
It is noteworthy that Ethereum blockchain’s energy-efficient upgrade, called the Merge, is also inching closer to its release in around mid-September. This is a major contributing factor why ETH did not follow its conventional trial behind BTC and garnered individual gains.
The overall crypto market cap rose by 1.16 percent in the last 24 hours, as per CoinMarketCap.
The total valuation of the crypto market stands at $988.94 billion (roughly Rs. 78,77,100 crore).
Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.