Total Value of Cryptocurrencies Increase by 44 Percent to USD 720 Billion in H1 of Current Year

The crypto segment has grown rapidly over the past few years. The capitalization of the international cryptocurrency market grew by nearly 44 percent to $720 billion in the first half of this year. The launch of Bitcoin ETFs earlier this year has accelerated the growth of this segment.

A crypto exchange called Binance Report According to, Bitcoin has registered growth between January and June this year. The main reasons behind this are the launch of Bitcoin ETF and the fourth halving of its network. The value of the second largest cryptocurrency Ether has also increased rapidly. About $17 billion has been invested in Bitcoin ETFs in the US. The average trading per day in these ETFs is about $2.3 billion.

This year, bitcoin made its new high level after almost three years. Its price reached more than $ 73,737 in March. However, it has been declining for the last few months. The price of bitcoin on Tuesday was around $ 59,446. Tensions between some countries and regulatory challenges are the major reasons behind this decline. However, the central government has no plans to regulate this segment. The European Union (EU) and UAE have made rules for the crypto segment.

Recently, in a written reply in the Lok Sabha, Minister of State for Finance Pankaj Chaudhary had said that there is no proposal to make a law to regulate the purchase and sale of virtual assets in the near future. MP GM Harish Balayogi had questioned the government’s stand on this segment. He had asked whether the government has any proposal to bring rules to regulate the crypto segment. In response to this, Chaudhary had said, “There is no proposal to bring a law to regulate the purchase and sale of virtual digital assets. However, the Financial Intelligence Unit (FIU) has been authorized for special purposes of surveillance such as anti-money laundering.” During its presidency of the G20 last year, India collaborated with the International Monetary Fund (IMF) and the Financial Stability Board (FSB) to draft a crypto-related law for the members of the G20 group.