BTC, ETH, Most Altcoins Record Price Drops in India After WazirX Breach

The crypto market recorded a minor slip in terms of pricing over the last 24 hours. While most cryptocurrencies recorded price fluctuations on international exchanges on Friday, July 19, Indian exchanges showed notable price declines following the security breach of one of WazirX’s multi-signature wallets. Bitcoin, for instance, is trading at $64,056 (roughly Rs. 53.5 lakh) on CoinMarketCap after a loss of 1.17 percent. On Indian exchanges like BuyUCoin and WazirX, BTC is trading at $58,862 (roughly Rs. 50 lakh) after logging a decline of up to 12.39 percent.

“If BTC fails to climb above the $64,650 (roughly Rs. 54.09 lakh) resistance zone, it could move downward toward the $62,500 (roughly Rs. 52.2 lakh) level. Additionally, the recent hack of WazirX has added pressure on Indian investors. Market participants should monitor the market closely and stay updated,” Edul Patel, CEO of Mudrex, told Gadgets360.

Ether clocked a minor loss of 0.22 percent to trade at $3,416 (roughly Rs. 2.85 lakh) on CoinMarketCap. Whereas on Indian exchanges, ETH is trading within the range of $3,100 (roughly Rs. 2.59 lakh) and $3,413 (roughly Rs. 2.85 lakh) after seeing its price tumble up to 13.60 percent.

As reflected on Gadgets360’s crypto price tracker on Friday, most cryptocurrencies are trading in losses in India.

These include Tether, Binance Coin, Solana, Ripple, Dogecoin, Cardano, Avalanche, and Shiba Inu.

Polkadot, Chainlink, Bitcoin Cash, Leo, and Litecoin also suffered losses.

The crypto market capitalisation slipped by 0.63 percent in the last 24 hours. Presently, the crypto sector valuation stands at $2.35 trillion (roughly Rs. 1,96,50,183 crore), as per CoinMarketCap.

Near Protocol, Cronos, Bitcon SV, and Iota, meanwhile, managed to see minor gains on Friday.

“In the US, major financial firms including BlackRock, Fidelity, 21Shares, Grayscale, Bitwise, and Invesco Galaxy have submitted their final S-1 filings to the SEC for the approval of spot ether ETFs. The regulator is anticipated to greenlight these applications next week, with the funds expected to be launched on Tuesday. This approval could mark a pivotal moment for the US crypto market,” the CoinSwitch markets desk told Gadgets360.