Most cryptocurrencies including Bitcoin Ether are on the red mark, prices are not increasing

All the coins are struggling in the cryptocurrency market. Even after half of the first week of May, most cryptocurrencies appeared in the red mark on Wednesday. The world’s most popular cryptocurrency, Bitcoin, fell 1.51 percent in price. According to the Indian exchange CoinSwitch Kuber, the current price of BTC in India is $ 40,345 (about Rs 31 lakh). The world’s oldest cryptocurrency also suffered losses on international exchanges. Bitcoin is trading at $38,029 (about Rs 29 lakh) on exchanges like Binance and Coinbase with a loss of more than 1.70 percent.

Ether has also appeared to follow the path of bitcoin. Gadgets 360 crypto price tracker As per reports, the value of ETH, the world’s second most popular cryptocurrency, has declined by 2.21 percent. It started trading at $2,971 (about Rs 2.30 lakh).

From stablecoins to Mimecoin and other popular altcoins, all have seen a fall in their prices. These include Tether, USD Coin, Solana, Cardano, Dogecoin, Shiba Inu and Polkadot, among others.

Some altcoins have also reported profits, including Monero, Baby Doge Coin, FLEX, Husky and Nano Dogecoin.

On the other hand, Andreessen Horowitz (a16z), one of the biggest force in the venture capital industry, is planning to invest $500 million (approximately Rs 3,825 crore) in India’s growing startup ecosystem. According to Pitchbook data, the venture capitalist has invested $23.5 billion (approximately Rs 1,79,815 crore) in India in 2021, of which $587.16 million (about Rs 4,490 crore) was allocated to crypto and web 3 companies. were.

The overall market cap of the crypto sector currently stands at $1.71 trillion (approximately Rs 1,71,619 crore). CoinMarketCap’s according On May 2, the figure was slightly higher at $1.75 trillion (about Rs 1,33,96,199 crore).

At the same time, the focus of many private equity investors has shifted towards the crypto segment. Venture capital (VC) investments in crypto projects stood at around $10 billion in the first quarter of this year. This is more than double compared to the same period last year. Steve Ehrlich, CEO of crypto brokerage firm Voyager Digital, said, “There is a lot of VC investment in these projects because these investors believe some of them may be successful later.” These projects range from crypto and NFT exchanges to decentralized finance applications.