Bitcoin, Ethereum Mark Dips Through Monday While Altcoins Have a Mixed Start to the Week

Bitcoin and Ether were down through Monday, although data on inflows and outflows from on-chain exchange Glassnode suggest another spike may ripen in the second half of the week. In terms of value, the world’s most popular cryptocurrency appeared to be down on Monday and still managed to post gains through Tuesday morning. At the time of writing, Bitcoin was up 1.38 percent after posting a 3.05 percent decline through Thursday. At the time of writing, BTC is worth $48,722 (approximately 36.5 lakhs) on the Indian exchange CoinSwitch Kuber.

On global exchanges, Bitcoin price is nearing the $47,000 mark at $46,730 (about 35 lakh), down 0.4 percent

Ether, the world’s second-largest cryptocurrency, saw a similar decline on Monday, with fortunes little changed on Tuesday morning. At the time of publication, Ether is worth $3,674 (roughly 2.5 lakh) on CoinSwitch Kuber, while the value on global exchanges shows the crypto value at $3,528 (roughly 2.5 lakh), where the coin has seen a decline of 3.78 percent in the last 24 hours.

Data from CoinGecko shows the value of the cryptocurrency is up more than 6 percent over the past week and more than 32 percent since early March.

The Gadget 360 cryptocurrency price tracker shows a rather mixed picture with small gains and losses coming up for the security. The global crypto market cap has seen a 0.83 percent growth over the past 24 hours. Binance Coin, Solana, Polygon, Chainlink, and Zilliqa recorded losses, while Cardano, Terra, and Polkadot recorded losses.

Shiba Inu and Dogecoin meme coins have also grown quite positively in the last 24 hours. Dogecoin is currently priced at $0.16 (roughly Rs. 12) after rising 4.62 percent over the past 24 hours, while Shiba Inu is priced at $0.000028 (approximately Rs 0.002), which is a 0.03 percent increase over the last day.

New data shows that in March which was positive for the recovery of Ether in the crypto market, Ethereum miners managed to earn a total revenue of $1.29 billion (approximately Rs. 9.740 billion) over the past month. While this is still far from last November’s all-time high, it bodes well for miners who are having a tough few months during the winter.

Meanwhile, US-listed companies that act as custodians of cryptocurrencies on behalf of their users must report the assets as liabilities and warn investors of the risks involved, the US Securities and Exchange Commission said in a recent accounting staff bulletin.

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The new guidelines, which specifically aim to remind clients of the potential risks of crypto-related investments, apply to traditional businesses such as banks or retail brokers that hold cryptocurrencies for their clients or provide other related services, as well as crypto exchanges.