Bitcoin, Ether, Majority Cryptocurrencies Bulk Up Ahead of Year End; Crypto Charts Stay Green
The crypto market managed to keep the charts green despite Christmas festivities being dampened by Omicron fears. Bitcoin stepped into the last week of 2021 with a gain of 2.23 percent. On Indian exchange CoinSwitch Kuber, the oldest cryptocurrency is trading at $53,894 (roughly Rs. 40.4 lakh). On international exchanges such as Binance and CoinMarketCap, Bitcoin is trading at $51,015 (roughly Rs. 38.3 lakh) per token. Just a day before Christmas, Bitcoin prices had soared above $50,000 (roughly Rs. 37.5 lakh) after days of registering consecutive dips.
With a gain of 0.92 percent at the time of writing, Ether was trading at $4,306 (roughly Rs. 3.23 lakh), as per Gadgets 360’s crypto price tracker. Despite the gain being marginal, it indicates that Ether is gradually striding forward.
Cardano, Ripple, Polkadot, Dogecoin, Shiba Inu, and Polygon among other altcoins also followed Bitcoin and Ether on the gain trail.
Only Tether and USD Coin emerged on the other side of the price chart, registering minute losses of 0.67 percent and 0.56 percent, respectively.
Sandwiched between Christmas and the New Year festivities, the global crypto market capitalisation has risen to $2.39 trillion (roughly Rs. 1,80,02,836 crore) from $2.35 trillion (roughly Rs. 1,77,02,311 crore) as per CoinMarketCap
The crypto trading volume has also increased to $75.03 billion (roughly Rs. 5,63,587 crore) from $72.62 billion (roughly Rs. 5,45,485 crore).
Meanwhile, the tussle between crypto supporters and opposers remain as intense as ever.
US Senator Cynthia Lummis has revealed plans to introduce a bill to alter legislative and regulatory landscape for cryptocurrencies in the US next year.
El Salvador President Nayib Bukele has also predicted “game over for fiat currencies,” supporting Bitcoin adoption.
In India however, right wing social and political organisation Swadeshi Jagran Manch has reached out the central government calling for a complete ban on crypto activities, as per news reports.
Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.
