Bitcoin and the larger crypto market witnessed a rare rally through Tuesday (December 11) as US Federal Reserve chair Jerome Powell vowed to fight inflation in testimony before lawmakers who are expected to focus on the recent surge in inflation. Bitcoin witnessed a 2.94 percent rise in value through Tuesday and is currently at $46,177 (roughly Rs. 34.13 lakh), up by 0.32 percent over the past 24 hours on Indian exchanges like CoinSwitch Kuber. Meanwhile, on global exchanges, the price of the most popular cryptocurrency stands at $42,548 (roughly Rs. 31.44 lakh) up by 0.60 percent over the past 24 hours.
Ether, the second-largest cryptocurrency by market capitalisation has had a torrid start to the year so far, shedding close to 15 percent over the past two weeks, but Tuesday saw a strong rally for the crypto asset. The Ethereum-based cryptocurrency witnessed a rise of 7.06 percent through the day and hasn’t let the momentum slip into Wednesday either. At the time of publishing, Ether is valued at $3,503 (roughly Rs. 2.59 lakh) on CoinSwitch Kuber while values on global exchanges see the crypto pegged lower at $3,225 (roughly Rs. 2.38 lakh), where the coin saw a rise of 3.48 percent over the past 24 hours.
Bitcoin and Ether are leading the pack in the rally, but most of the other well-known altcoins aren’t far behind. Gadgets 360’s cryptocurrency price tracker reveals a positive picture for the entire market. Ripple, Cardano, Polkadot, Uniswap, Polygon and Litecoin all saw…
