Cryptocurrency Price Today: Bitcoin and Ether See Losses Along with Most Altcoins; Tether, Iota see small gains

The cryptocurrency chart on Wednesday, May 15 reflected losses close to those of most cryptocurrencies. Bitcoin posted a loss of around 1% which took its trading value to $66,124 (around Rs. 55 lakh) on Indian exchanges like CoinDCX and CoinSwitch. On international exchanges, meanwhile, the most expensive cryptoasset is trading at a slightly lower price of $61,945 (around Rs. 51 lakh). BTC was unable to sustain the previous day’s gains and faced downward pressure over the past 24 hours, causing losses for most altcoins as well.

Ether It recorded a loss of 1.48% on Wednesday. With this, its price on domestic and international bourses stands at $3,083 (around Rs. 2.57 lakh) and $2,902 (around Rs. 2.42 lakh), respectively.

“Technically, BTC and ETH continue to exhibit choppy price action, remaining range-bound and experiencing liquidations on both sides. Funding rates are neutral and overall price action is mixed, although both cryptocurrencies are currently at key support levels. Today’s US CPI numbers will be crucial to keep an eye on as they are expected to have a significant impact on the market,” CoinDCX’s markets team told Gadgets360.

Cardano, Polka dotAND Chain shirt next to Ripple, Dogemoneta it joined most cryptocurrencies in seeing losses on Wednesday.

Uniswap, Cosmos, Chrono, StellarAND Monero it also posted profits along with it Polygon AND Leo.

“Markets are expected to remain choppy in the coming weeks as inflation data keeps investors on their toes. However, Raoul Pal, a well-known financial industry figure, foresees a significant expansion of the cryptocurrency market, predicting that its market capitalization could reach $100 trillion,” Shivam Thakral, CEO of BuyUcoin to Gadgets360.

The overall market capitalization declined by 1.45% in the last 24 hours to stand at $2.26 trillion (approximately Rs. 1,88,70,887 crore), CoinMarketCap the data was shown on Wednesday.

Bind, Floki Inu, Iota, ZcashAND State managed to post smaller gains.

“In other news, US Wisconsin became the first state to disclose Bitcoin buying after highlighting the purchase of more than 94,000 shares of BlackRock’s iShares Bitcoin Trust (IBIT) in the first quarter of the year. Markets have reacted positively to this development, but the narrative soon shifted towards expected inflation data,” the CoinSwitch Markets Desk told Gadgets360.

In India, developments in the blockchain industry are making headlines. Earlier this week, CoinDCX announced the industry’s first orchestration layer called Okto. Through a unified set of SDKs, Okto allows developers to easily integrate complex Web3 features and flows into their applications, while offering their users native mobile Web2-like experiences with just one click.

Indian blockchain gaming ecosystem Oneto11 is also planning a global expansion starting from Latin America, Southeast Asia, and Africa regions.

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