At the same time, Ether, the world’s second most popular cryptocurrency, also appeared to be following the path of bitcoin. Gadgets 360 crypto price tracker Told that after gaining up to 3.32 percent, the price of ETH in India has reached $ 2,193 (about Rs 1.70 lakh).
Binance Coin, Cardano, Solana, Polkadot and Avalanche have also reported profits. Stablecoins, which have been seeing tough times for the past few years, have also started getting back on track. Tether, USD Coin and Binance USD are among the coins that have made a good start this week. Dogecoin and Shiba Inu, popularly known as Mim Coins, have also started recording profits, eliminating losses.
However, some cryptocurrencies are still seen in losses. Chief among them is Terra, which also got off to a bad start on Monday. The LUNA altcoin, once the eighth largest cryptocurrency by market cap, is down more than 99 percent. Currently LUNA is witnessing a huge decline of 31.36 per cent and its value has reached to $0.0013 (approximately Rs.0.01).
Tera’s overall market cap fell below $2.75 billion (about Rs 21,246 crore) last week, after which it slipped to number 34 on the list of top cryptocurrencies. When it was at its peak, it was the eighth largest cryptocurrency with a market cap of $25 billion (about Rs 1,93,150 crore).
Overall, the market has seen a recovery. According to CoinMarketCap, the market cap of the crypto sector stood at $1.17 trillion (about Rs 91,01,968 crore) as of May 12, which has increased to $1.30 trillion (about Rs 10,133,150 crore) in the past few days.