New Delhi: In the latest development, it has been reported that the market capitalisation of global cryptocurrency rose to $1.87 trillion from $1.70 trillion over the last 24 hours. The trading volume or the number of shares traded within the same period also increased to $90.36 billion from $68.72 billion on February 4.
The market dominance of Bitcoin was climbed to 41.65 per cent. As per the market value on February 5, the virtual token was trading at $41.388.68.
However, the world’s biggest virtual currency in terms of market price has recovered 23.2 per cent from the year’s low of $32,950.072 on January 24.
In rupee terms, Bitcoin and Ethereum get a smile on the face of their investors. Bitcoin registered a jump of 9 percent to reach Rs 32,33,214, while Ethereum advanced by 9.5 per cent to reach Rs 2,34,199.9.
Know about other cryptocurrencies:
Avalanche registered the highest jump of 12.07% to reach Rs 6,098.397 in the past 24 hours, followed by XRP (7.16%), Litecoin (7.05%), Solana (6.76%) Axie (6.75%), Cardano (6.08%).
On the other hand, Tether was trading at Rs 78.19 following the decrease of 1.84%.
Notably, the government has decided to impose a tax of 30% on the gain made on trades of cryptocurrencies.
Finance Secretary TV Somanathan also clarified after the announcement of the budget saying, ”Digital rupee issued by RBI will be a legal tender. Rest all aren’t legal tender, will not, will never become legal tender.”
Digital currency will be backed by RBI which will never be default. Money will be of RBI but the nature will be digital. Digital rupee issued by RBI will be a legal tender. Rest all aren’t legal tender,will not,will never become legal tender:Finance Secy TV Somanathan
(File pic) pic.twitter.com/Cko0e4753X
— ANI (@ANI) February 2, 2022
