Bitcoin trades haven’t seen a huge uptick in the past 24 hours, but ether has continued to gain momentum with a gain of 6.73 percent over the past 24 hours. The world’s second most popular cryptocurrency on CoinSwitch Kuber is currently valued at $4,888.6 (approximately Rs 3.67 lakh), while Ether is valued at $4,704.78 (approximately Rs 3.53 lakh) on global exchanges and has seen an improvement of 5.24 per cent in 24 hours . Gadgets 360’s cryptocurrency price tracker shows that the Ethereum-based coin has grown to hit a new all-time high.
It is said in the crypto market that whenever there is a fall in bitcoin, then its benefit goes to the rest of the currencies. Tether, Chainlink, Ripple, Polkadot, Polygon, and Litecoin have all seen their value increase over the past 24 hours. Only one coin, Cardano, has suffered a marginal drop of 0.74 percent and is valued at $1.63 (approximately Rs.122.49).
Dodgecoin and Shiba Inu have also continued their uptrend. Dodgecoin is currently trading at $0.23 (approximately Rs.16.92) with an increase of 0.18 percent. The Shiba Inu value is $0.000048 (approximately Rs.0.003589), up by 8.08 percent in the last 24 hours. According to CoinGecko, the value of SHIB has seen an increase of 14.4 percent in the past few days.
Meanwhile, on the upcoming crypto bill in Parliament, the government has said that after getting approval from the Union Cabinet, it is certain to bring a bill on cryptocurrency. The Cryptocurrency and Regulation of Official Digital Currency Bill has been included in the Lok Sabha Bulletin-Part 2, which is likely to be introduced in the current winter session of Parliament.
The bill seeks to create a framework for the creation of an official digital currency to be issued by the Reserve Bank of India (RBI). With few exceptions, the bill also calls for a ban on all private cryptocurrencies in the country.
Finance Minister Nirmala Sitharaman has clarified in the Lok Sabha on Monday that the government has no proposal to recognize bitcoin as a currency. He has also told the House that the government does not collect any data on bitcoin transactions.
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