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HomeBusinessCryptocurrency Prices: Slight rise in bitcoin prices, Ether, Dogecoin also rise

Cryptocurrency Prices: Slight rise in bitcoin prices, Ether, Dogecoin also rise

The price of cryptocurrencies has seen a rise on Friday. Bitcoin is trading below $57,000. Bitcoin, the world’s largest and most popular cryptocurrency, rose slightly to $56,586.

The price of cryptocurrencies has seen a rise on Friday. Bitcoin is trading below $57,000.

Bitcoin Prices Today: The price of cryptocurrencies has seen a rise on Friday. Bitcoin is trading below $57,000. Bitcoin, the world’s largest and most popular cryptocurrency, rose slightly to $56,586. The price of bitcoin recently reached a record high of around $69,000. The cryptocurrency has gained 95 percent so far this year. Meanwhile, the global crypto market cap rose marginally to $2.74 trillion.

On the other hand, Ether, the second largest cryptocurrency linked to the ethereum blockchain, rose slightly to $4,539. Dogecoin is also up more than one percent at $ 0.20. Other cryptocurrencies like Litecoin, XRP, Polkadot, Uniswap, Cardano, Solana, Polygon are also trading with a bullish momentum in the last 24 hours.

Binance Coin boom

The total cryptocurrency trading volume stood at $115.29 billion during the last 24 hours. It has seen a decline of 5.93 percent. While DeFi ($14.74 billion) together account for 12.78 percent of the total crypto market volume, stablecoin ($89.17 billion) accounts for 77.34 percent of the crypto market’s 24-hour market volume.

Binance Coin rose 4.96 percent to Rs 48,450. On the other hand, Polkadot has come down by 6.84 percent to Rs 57.59 in the last 24 hours. Mimcoins SHIB has also grown at the rate of about 10.76 percent. Whereas, DOGE has gained 7.0 percent.

Why did cryptocurrencies rise?

A cabinet note from the government on the upcoming cryptocurrency bill has brought positive news for crypto investors and the industry. In this, instead of banning private cryptocurrencies, it has been said about regulation. Cryptocurrency is defined in the note as a crypto asset. It will be under the regulatory supervision of the Securities and Exchange Board of India (SEBI). A date will be given by which those holding crypto assets will have to declare it and bring it under the crypto exchange platform. However, there is no provision to recognize it as a legal currency, about which the government has repeatedly clarified.

The virtual currency proposed by the Reserve Bank of India (RBI) has not been included with the new crypto bill. However, the central bank will regulate matters related to cryptocurrencies.

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Shehnaz Ali
Shehnaz is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing about Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.
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