Amid good news for crypto traders in India after RBI gave much-sought after clarification on banking ban on dealing with virtual currencies and crypto exchanges, most of the top coins were seen trading in green or making recovery. Not just that overall crypto market on CoinSwitch Kuber was also up by 1.01 % in the evening trade at 4.1 5 pm on Tuesday. All major coins, including, Bitcoin, Dogecoin, Ethereum, Cardano, Shiba INU and Polka dot, were seen making good recovery from Monday’s trade and sluggish weekend earlier on.
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Overall crypto market corrected nearly 45% after China cracked down and barred banks and other financial institutions from cryptocurrency business in the late last month. These institutions were barred from offering clients any service involving cryptocurrency.
Let’s check prices of some of the famous cryptocurrencies in Indian Rupee (Rs) at CoinSwitch Kuber and Wazirx, top two famous exchanges available for trading in virtual currencies India.
1. Bitcoin: Rs 28, 07,577, down 1.2 %
1-day highest: Rs 28,99,425
1-Day lowest: Rs 27,88, 043
2. Ethereum: Rs 2, 00,661, up Rs 2.23 per cent
1-day highest: Rs2,08,492
1-day lowest: Rs 1,96,112
3. Polka Dot: Rs 1,742, up 3.54 per cent
1-day highest: Rs 1798
1-day lowest: Rs 1660
4. Cardano: Rs 133, up 5.15 per cent
1-day highest: Rs 135
1-day lowest: Rs 126
Dogecoin and Shiba Inu, two very popular coins among crypto traders worldwide, were also up by over 3 and 9 per cent respectively.
Dogecoin: Rs 25, up 3.58 per cent
1-day highest: Rs 26.42
1-day lowest: Rs 24.02
Shiba Inu: Rs 0.000674, up, 9.23 per cent
1-day highest: Rs 0.000755
1-day lowest: Rs 0.000608
Earlier on May 31, giving a huge relief to cryptocurrency traders and investors in India, the Reserve Bank of India on Monday said that bank and other financial institutions can no longer cite 2018 RBI order that barred them from engaging in business exchanges. The RBI said Supreme Court had already set aside its order and hence the banks can not cite old circular and deny services to people trading/dealing in cryptocurrencies. ” Such references to the above circular by banks/ regulated entities are not in order as this circular was set aside by the Hon’ble Supreme Court on March 04, 2020,” said the RBI.
Note these coins have been picked either on their rankings or as per their popularity among crypto traders.