In cryptocurrencies, Bitcoin price today surged even as it remained below the $40,000 mark. The world’s largest and most popular cryptocurrency surged more than 2% to $39,230. The global crypto market’s value today gained over 3% in the past 24 hours to $1.9 trillion, according to pricing from CoinGecko.
On the other hand, Ether, the coin linked to the ethereum blockchain and the second largest cryptocurrency, also gained more than a per cent to $2,875. Meanwhile, dogecoin price today was trading over a per cent higher at $0.14 whereas Shiba Inu slipped 0.5% to $0.000023.
Other digital tokens were mixed as Solana, Stellar, Polkadot, Cardano, Uniswap, Litecoin, Terra, Tron were trading with gains whereas XRP, Avalanche, Polygon fell over the last 24 hours.
“Bitcoin, Ethereum, and most cryptocurrencies gained decent growth over the past 24 hours after a five-day dip. BTC’s selling price started to stabilize a bit. Still, the largest cryptocurrency will likely remain in a tight trading range until it breaks below the support or above its initial resistance level,” said Edul Patel, CEO and Co-founder, Mudrex.
India will not rush into finalizing a policy on cryptocurrencies and virtual digital assets, but take an informed decision after due deliberations across multilateral fora, Finance Minister Nirmala Sitharaman said while addressing an event.
The minister clarified that the government is open to promote innovation and well-grounded progress made in the distributed ledger technologies, which are coming in the blockchain.
Sitharaman, in her Budget speech on February 1, had announced that the digital rupee or CBDC would be issued by the RBI in the coming fiscal year. She had also announced that the government will levy a 30 per cent tax on gains made from any other private digital assets from April 1.
(With inputs from agencies)