Crypto Market in Profit, Bitcoin Price less than USD 67,000, Ether Increases More than 2 Percent
Ether had a profit of more than two percent. Its price on international exchanges was around $3,247. On Indian exchanges, it was trading in the range of $2,554 to $3,540. Apart from this, Avalanche, Binance Coin, Solana, Ripple, Cardano, Polkadot, Chainlink and Litecoin were also in the green. ETH fell Cryptocurrencies These included Qtum, Circuits of Value and Near Protocol. The market capitalization of crypto was up by about 3.27 percent in the past one day to $2.39 trillion.
Vikram Subburaj, CEO of crypto exchange Giottus, told Gadgets360, “Bitcoin has seen a strong recovery. Positive sentiment and a bitcoin conference on Thursday are the main reasons behind this.” Ether’s exchange traded funds (ETFs) have received a good response. Trading of these ETFs has been more than a billion dollars on launch. Recently, the markets regulator in the US approved their trading.
The central government’s strict attitude towards cryptocurrencies in India remains intact. Recently, Finance Minister Nirmala Sitharaman had said that cryptocurrencies are not considered or seen as ‘currency’. High taxes on the crypto segment in the country are affecting growth. The crypto industry had requested the central government to reduce taxes on this segment. However, Sitharaman did not mention cryptocurrencies in the budget presented on Tuesday. This has disappointed the stakeholders associated with this industry. Regulators in some countries have also warned about cryptocurrencies. Cases of scams related to this segment have also increased. Last week, the security of a multi-signature wallet of crypto exchange WazirX was breached. About $240 million (about Rs 1,965 crore) from this exchange has been suspiciously sent to a new address, which is linked to the controversial crypto mixer platform, Tornado Cash. WazirX got information about this hacking from a post on the social media platform X by security firm Cyvers.
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