Crypto Market in Profit, Bitcoin Price More than USD 55,170, Ether, Solana, Litecoin

Bitcoin, the largest cryptocurrency in terms of market capitalization, recorded a profit on Monday. Its price on Indian exchanges was up by about one percent at around $58,718. On international exchanges, the price of bitcoin was trading at around $55,170, up more than 1.60 percent.

the second largest Cryptocurrency The price of Ether has also increased. According to Gadgets360’s crypto price tracker, it was at around $2,460. The price of Ether on international exchanges was around $2,300. Apart from this, Avalanche, Ripple, Tron, Cardano, Binance Coin, Chainlink, Polkadot, Near Protocol and Stellar were up. Litecoin and Iota were among the cryptocurrencies that declined. In the last one day, the market value of crypto increased by more than one percent to around $1.95 trillion.

The markets desk of crypto exchange CoinSwitch told Gadgets360, “Bitcoin funding rates on exchange futures are mostly negative. This is indicating a possibility of a decline in the retail segment. Looking at past records, such situations tend to lead to short liquidations, which leads to a rally. This could mean that altcoins are at their lowest levels and may see a strong recovery. The upcoming CPI and PPI data in the US could provide direction to the market.”

The US Federal Bureau of Investigation (FBI) has warned that attacks by North Korean hackers on the crypto segment are increasing. Last month, hackers targeted Indian crypto exchange WazirX. There are reports of North Korean hackers being involved in this case as well. Hackers stole funds worth about $230 million from WazirX. The crypto market was also affected by this case. This raised questions about the strength of security in crypto exchanges. The FBI has said, “Hackers search for their victims through their activity on social media. After this, the victims are trapped in various ways.” To avoid these hackers, the FBI has advised not to store information related to login, password and private keys of cryptocurrency wallets on devices connected to the Internet. Rules are being made for this segment in some countries.