cryptocurrency There was some profit-booking in the market on Thursday, which ended the two-day winning streak. in cryptocurrency, Bitcoin After breaking the $39,000 level for the first time in two weeks, the price traded below the $37,000 level today. The world’s most popular and largest cryptocurrency by market cap fell 4.40 per cent to $36,972.60. Bitcoin has slipped more than 16 percent since the beginning of this year (year-to-date or YTD), while it has almost halved from its all-time high of $69,000 last 50 percent in November. Monetary policy tightening expectations helped fuel the slowdown in the past month cryptocurrency properties.
Elsewhere, ether, the coin tied to the Ethereum blockchain and the second largest cryptocurrency, was trading in the red by 3.34 percent to $2,683.88, according to coinmarketcap.com. Similarly, Binance Coin was also down 4 per cent at $366.
The price of Dogecoin also fell nearly 4 percent to $0.13, while the Shiba Inu was trading down more than 5 percent at $0.000021, the performance of other cryptos also included XRP, Stellar, Avalanche, Cardano, Solana, Polygon, Terra As fell, prices were trading with a cut. In the range of 4-9 per cent in the last 24 hours.
In another news, India’s finance secretary said on Wednesday that crypto will never become legal tender, only the digital currency issued by the Reserve Bank of India (RBI) will be legal tender. “Digital Rupee will be backed by RBI which will never default. All the rest are not legal tender, they will never become legal tender. Any picture of bitcoin, ethereum, or an actor becoming an NFT will never become legal tender,” he said.
On the other hand, the digital rupee, the upcoming launch of which was announced by Finance Minister Nirmala Sitharaman during her budget speech on February 1, is a safe option for investment, said Finance Secretary TV Somanathan. “The digital currency will be backed by RBI which will never default. The money will be of RBI but the nature will be digital. The digital rupee issued by RBI will be a legal tender. All the rest are not legal tender, will not be, will never become a legal tender. Income will be taxed at 30 percent.
Here are the top 10 cryptocurrencies and their prices as of February 2, 2022 (data from Coinmarketcap.com at the time of publishing this article)
Bitcoin Lost $36,972.60 or 4.40 Percent in Last 24 Hours
Ethereum lost $2,683.88 or 3.34 percent in the last 24 hours
Cardano lost $1.10 or 4.28 percent in the last 24 hours
Tether lost $1.00 or 0.00 percent in the last 24 hours
Tera $47.84 or 8.96 percent loss in last 24 hours
XRP Loses $0.602 or 4.10 percent in the last 24 hours
Solana has lost $99.66 or 9.43 percent in the last 24 hours
Avalanche ,Loss of 68.08 or 7.21 percent in the last 24 hours
Binance lost $1.00 or 0.20 percent in the last 24 hours
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