Wednesday, September 28, 2022

Even on the last day of June, the crypto market is in turmoil, most cryptocurrencies including Bitcoin, Ether are in loss.

Cryptocurrencies have registered losses even on the last day of June amidst the clouds of decline in the crypto market. Bitcoin, the world’s most popular cryptocurrency, has suffered a loss of 2.27 percent. According to the Indian exchange Coinswitch Kuber, its price has gone up to $ 21,111 (about Rs 16.60 lakh). At the global level also, BTC has registered a decline of about two percent. According to Binance and CoinMarketCap, the current price of BTC is around $20,069 (approximately Rs 15.80 lakh). However, it is not the only cryptocurrency which is reporting losses.

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Ether and Solana, the world’s second most popular cryptocurrencies, have faced losses of 5.36 per cent and 7.71 per cent, respectively. According to Gadgets 360’s crypto price tracker, ETH is trading at $1,147 (approximately Rs 90,589), while SOL is priced at $34 (approximately Rs 2,740).

Binance Coin, Cardano, Ripple, Polkadot, Avalanche and Polygon cryptocurrencies have also seen losses and have all joined the list along with BTC, ETH and SOL.

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Meanwhile, the popular Shiba Inu and Dogecoin as well as Uniswap and Cosmos have posted marginal profits.

Overall crypto market has fallen by $ 892 billion (about Rs 70,43,820 crore) compared to a day earlier. A day earlier it was at $ 929 billion (about Rs 73,11,028 crore).

The CoinDCX research team has told Gadgets 360 that it is imperative that stakeholders trust the potential of crypto assets. He continues to manufacture products for the development of the crypto ecosystem. Amidst the recession in the crypto market, the Russian Parliament has approved a law related to tax relief for digital assets and cryptocurrency issuers in the country.

Also READ  Bitcoin price falls below $18,700 as interest rate rises in US

Talking about India, there is also an increase in crypto adoption. Over 6,000 people have signed up for Asia’s largest Tezos hackathon in the first three weeks. Under this competition, more than $100,000 (about Rs 79 lakh) can be won in the form of prizes and grants.

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