According to Gadgets 360’s crypto price tracker, Ether opened trading at $2,064 (about Rs 1.65 lakh) with a gain of 0.22 percent. The rest of the altcoins also appeared to follow the path of Bitcoin and Ether and were reporting profits.
USD Coin, Cardano, Ripple, Solana, Polkadot and Avalanche have made profits. While the popular Shiba Inu and Dodgecoin are also in profit as Mime Coins. Tron, Litecoin, Chainlink and Cosmos are also in profit. However, some cryptocurrencies are still reporting losses today including Tether, Polygon, Uniswap and Baby Dodgecoin.
The global crypto market cap is currently at $1.15 trillion (approximately Rs 91,62,291 crore), an increase of 1.25 percent over the previous day.
It is worth noting that the cryptocurrency business has grown rapidly in the past few years. Last year in India more than seven percent people had digital currency in the form of cryptocurrency. According to UNCTAD, a UN trade organization, the use of cryptocurrencies has increased worldwide, including in developing countries, during the Corona epidemic. However, this segment also has problems like tax evasion and money laundering.
Recently, UNCTAD has released the data of the top 20 countries holding digital currencies last year. Ukraine ranks first in this. About 12.7 percent of Ukraine’s population had a digital currency. India is at the seventh position in this list. However, UNCTAD states that cryptocurrencies are a volatile financial asset and can cause social risks as well as financial losses.