[ad_1]
The global market capitalization of cryptocurrencies increased by 1.15 percent over the past 24 hours to $2.02 trillion while trading volumes decreased by 24.77 percent to $77.78 billion. Bitcoin, the world’s most popular and oldest cryptocurrency, rose 3.04 percent, to $44,812.10.
“Bitcoin maintained a stronghold around the $44,000 level. However, on the weekly chart, Bitcoin continues to trade at support after recently breaking through that level. The RSI for bitcoin remained strong near the 65 level. With Russia preparing to regulate Bitcoin as a currency, We could see BTC clearing the next major resistance at $50,700 sooner than expected,” WazirX said in a note.
Ethereum, the second largest cryptocurrency by market capitalization, was trading at $3,258.99, up 3.93 percent. Ethereum continued trading around the $3200 level. ETH vs Bitcoin gained momentum reaching 0.075. The weekly chart for Ethereum has bounced back above the support level after staying below it for almost two weeks. The next resistance for Ethereum is expected at the $3,660 level.”
The Russian government released a document on its official website late Tuesday outlining principles for crypto regulation, which underpin the first batch of crypto assets. The Russian government’s plan has received support from its central bank, which has called for a ban on cryptocurrency mining and trading. The development also came shortly after India took a step towards legalizing crypto by imposing a tax on transfers of digital assets.
The Russian government has announced its plans to regulate the cryptocurrency industry. The CoinDCX research team said that in what was a complete 180% reversal from their original stance on banning cryptocurrencies, the ‘unexpected’ move can be seen as positive for the industry.
“With regulatory clarity in place, institutions such as pensions, endowments and family offices can now have exposure to cryptocurrencies more easily, opening the door to mainstream adoption in Russia,” she added.
Global crypto exchanges researching the Indian market are waiting for more clarity on crypto regulations to make entry and investment decisions even after the government announced a budget tax regime.
The government is considering the possibility of applying the Goods and Services Tax (GST) to various cryptocurrency transactions including the mining of these digital assets.
Top 6 profitable cryptocurrencies in the last 24 hours (according to data from CoinMarketCap)
SONIC TOKEN was trading at $0.00005636, up 1,814.45 percent.
Chen Ping was trading at $20.57, up 629.48 percent
Dogecolony was trading at $0.000004824, up 518.08 percent.
NinjaFloki traded at $0.00002105, up 398.45 percent
Wall Meta was trading at $0.1151, up 336.33 percent.
Silva Token was trading at $0.000000001172, up 202.15 percent.
Top 6 cryptocurrency losers in the last 24 hours (according to data from CoinMarketCap)
Doge Rise Up was trading at $0.00000000007485, down 92.23 percent.
PAPPAY traded at $0.00000007014, down 81.30 percent
Saitama Samurai traded at $0.0001691, down 81.02 percent
Rogan Coin was trading at $0.00000000002166, down 75.48 percent.
MetaPay was trading at $0.000001621, down 69.14 percent.
BabyNFT was trading at $0.0000000002089, down 63.95 percent.
Read all files latest newsAnd the Breaking news And the News about the Corona virus over here.
[ad_2]
Source link
