BTC, ETH See Small Gains, Cryptocurrencies Step into December Riding on Volatility
Bitcoin on December 1, Thursday, opened trading with a small gain of 1.02 percent. The overall crypto market is like a mix-bag of reds and greens, with many cryptocurrencies showing little profit. According to the Gadgets 360 crypto price tracker, BTC is currently valued at $17,152 (roughly Rs. 13.9 lakh). The oldest crypto assets are following the same path in international exchanges as Binance and Coinbase. In total, BTC has increased by $252 (approx. Rs. 20,438) in the last 24 hours.
Ether continued to see small gains, closely following Bitcoin’s market movements. With an increase of 0.73 percent, ETH is currently worth $1,286 (roughly Rs. 1.04 lakh).
Cardano, Polygon, Solana, Tron, and Uniswap also joined the list of cryptocurrencies that saw gains.
Avalanche, Chainlink, LEO, Coined Bitcoin, and Monero also made gains.
Meanwhile, stablecoins pegged to the US dollar, such as Tether, Binance USD, and USD Coin recorded a decline in their prices.
Dogecoin and Shiba Inu broke their profit-taking patterns again, about four days later, and settled for losses.
The overall crypto market has increased in value by 1.17 percent in the last 24 hours. like saying CoinMarketCapthe global crypto market value stands at $862 billion (approximately Rs. 69,92,701 crore).
After this market turmoil, India is moving ahead with its CBDC digital currency trials.
Starting today, India’s CBDC is entering its retail phase with select retailers in select locations.
“The CBDC has some inherent advantages, being a private currency. The main advantage is that it ensures the end of payments and reduces the risk of payments in the financial system. The rupee provides the public with improved access to digital money. It can also provide a strong and safe foundation for new private sector initiatives to meet current and future needs. the future of payment services,” Jaya Vaidhyanathan, CEO, fintech firm BCT Digital told Gadgets 360, commenting on India’s CBDC development.
Many countries, meanwhile, are accelerating efforts to regulate the crypto sector to make the industry safer.
Brazil, for example, is set to give its cryptocurrency a final round of approval before it becomes law in the coming days.
Cryptocurrency is an unregulated digital currency, not 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 other advice or recommendations of any kind provided or endorsed by NDTV. NDTV shall not be liable for any loss arising from any investment based on any implied recommendation, forecast or other information contained in the article.
