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Bitcoin Surpasses $100,000 Mark Ahead of Trump’s Inauguration, While Ether Sees Decline

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Crypto prices have surged in the days leading up to the inauguration of US President-elect Donald Trump on January 20, with Bitcoin leading the charge. On Friday, Bitcoin’s price saw a notable 2.09 percent increase on international exchanges, climbing to $101,526 (approximately Rs. 87.8 lakh), according to data from CoinMarketCap. Indian exchanges such as CoinSwitch and Giottus saw an even higher rise, with Bitcoin trading at $104,532 (roughly Rs. 90.5 lakh), reflecting a 1.5 percent gain locally. This rally signals strong investor optimism ahead of the political transition, potentially fueled by anticipation of economic policy changes under the new administration.

Despite Bitcoin’s impressive climb, Ether experienced a slight downturn during the same period. On global platforms, the price of Ether dropped by 1.03 percent, falling to $3,370 (roughly Rs. 2.91 lakh). Indian exchanges also reflected this decline, with Ether down by 0.59 percent, trading at $3,483 (around Rs. 3.01 lakh). The dip in Ether’s value contrasts sharply with Bitcoin’s growth, highlighting the ongoing volatility within the crypto market, where different assets can move in opposite directions even within short time frames.

Experts suggest that the rise in Bitcoin’s value is linked to broader economic trends, particularly the expectation of monetary easing from the US Federal Reserve. According to Avinash Shekhar, Co-Founder and CEO of Pi42, the surge in Bitcoin and other altcoins like XRP points to a new phase in the crypto market. Shekhar emphasized that this shift is driven by increasing institutional participation and innovations within the sector, which are expected to fuel growth and solidify cryptocurrency’s role in the modern economy.

The broader crypto market has also seen positive movement, with the total market capitalization rising by 2.06 percent in the last 24 hours. As of now, the crypto market cap stands at a substantial $3.56 trillion (around Rs. 3,08,22,831 crore), underscoring the growing strength and influence of the crypto ecosystem. With such momentum, cryptocurrencies are poised to remain a key component of global financial markets in the coming years.

Bitcoin Surges Past $97,000 Amid Market Recovery, Altcoins Follow Upward Trend

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Cryptocurrency Market Rebounds as Bitcoin Tops $97,000

The cryptocurrency market witnessed a positive turn on Wednesday, with several digital assets posting gains after a brief period of decline. Bitcoin, the market leader, recorded a 1.46 percent increase on global exchanges, climbing to $97,433 (approximately Rs. 84 lakh), as per CoinMarketCap data. Indian platforms like CoinDCX and CoinSwitch reported even higher figures, with Bitcoin trading around $103,722 (roughly Rs. 89.6 lakh). This recovery marks a significant step in Bitcoin’s ongoing price journey, driven by renewed market optimism.

Ethereum Follows Bitcoin’s Lead

Ethereum (ETH), the second-largest cryptocurrency, also showed signs of recovery. On international exchanges, ETH saw a 1.32 percent uptick, trading at $3,220 (approximately Rs. 2.78 lakh). The upward trend extended to Indian exchanges, where Ethereum traded at $3,412 (roughly Rs. 2.95 lakh). As Ethereum mirrors Bitcoin’s trajectory, it signals growing investor confidence across major cryptocurrencies. This recovery comes as traders anticipate key economic indicators that could influence market sentiment further.

Market Sentiment Boosted by Economic Indicators

The resurgence in crypto prices can be partially attributed to favorable economic data. “Bitcoin is currently marking a strong recovery after the sharp dip experienced over the past few days. The rebound can be attributed to better-than-expected Producer Price Index (PPI) data, which brought renewed optimism to the market. However, all eyes are now on today’s Consumer Price Index (CPI) release, which could introduce fresh volatility and potentially shift the market’s direction,” CoinSwitch’s markets desk told Gadgets 360. These economic metrics have a profound impact on market trends, especially for assets like Bitcoin that often move in response to inflation-related data.

Broader Market Gains

According to the crypto price tracker by Gadgets 360, most cryptocurrencies experienced an uptick in prices on Wednesday. This broader recovery hints at improving sentiment across the digital asset market, with investors taking cautious steps amid macroeconomic developments. While volatility remains a constant in the crypto space, the current rebound reflects the sector’s resilience and its potential to attract fresh capital despite recent dips. As traders keep an eye on upcoming data releases, the market’s next moves could hinge on how these metrics shape expectations for inflation and monetary policy.

Maha Kumbh Mela 2025 to Offer Polygon-Based NFT Tickets for Tent City Visitors Through Chaincode and Okto

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The Maha Kumbh Mela 2025 officially commenced in Prayagraj on Monday, marking the start of one of the world’s largest religious and spiritual gatherings. This year, the event will take a step into the future with the introduction of Polygon-based NFT tickets, a collaboration between Okto Wallet and Chaincode Consulting. This unique initiative seeks to bring a Web3 dimension to the deeply rooted traditions of the Kumbh Mela, merging ancient spiritual practices with cutting-edge blockchain technology. Visitors to the event will receive NFT versions of their tickets for entry into the Tent City, a massive temporary settlement set up in Prayagraj to accommodate the influx of pilgrims and tourists.

Okto announced the details of this initiative on Tuesday, highlighting that the NFT tickets will not only serve as digital versions of train tickets to the Tent City but will also provide various benefits. These benefits include exclusive perks for tent bookings and access to other facilities within the Maha Kumbh Mela complex. This approach allows visitors to enjoy both a modern digital experience and the spiritual atmosphere of the event. The use of NFTs as tickets adds a unique layer of innovation, offering a secure and convenient way for attendees to manage their entry into the sprawling venue.

Travelers booking tickets for certain Indian Railways services, as well as those securing accommodations at the Kumbh Mela Tent City, will receive an NFT version of their ticket, which will be securely stored in their Okto Wallet. The NFT will serve as a personalized digital keepsake, enabling visitors to preserve memories from their time at one of the world’s largest spiritual congregations. Additionally, NFT holders will be able to record their photos and videos on the Polygon blockchain, making their experiences part of a permanent, digital record of the event.

In an interview with Gadgets 360, Chaincode explained that the NFT ticketing system will be powered by NFTTrace, its flagship product. NFTTrace specializes in tokenizing assets such as tickets, certificates, and even land records into NFTs, adding another layer of transparency and security to transactions. This system will enable Kumbh Mela visitors to not only access their tickets digitally but also engage with the event in a way that reflects the intersection of tradition and modern technology, providing a truly innovative experience for pilgrims and tourists alike.