Considering how cryptocurrency is becoming the new economic investment in India, keeping a track of this volatile currency is quite important. On Wednesday, the global crypto market cap was seen at $1.62 trillion. This is a 2.17 percent decrease from the previous day, while the total crypto market volume over the last 24 hours made a 9.77 percent decrease to $108.80 billion. The volume of all stable crypto coins is now at $92.46 billion, which is 84.98 percent of the total crypto market 24-hour volume.
Popular cryptocurrency Bitcoin’s price was seen at $36,332.66. Currently dominating at 41.97 percent Bitcoin was trading 0.58 per cent lower than its price 24 hours ago. Meanwhile, prices of Ethereum aka Ether were marginally down at around 9:20 am. Ether was down by 0.41 per cent from yesterday.
According to news agency Reuters, the decrease in Bitcoin’s value was slight but quickly pared losses after Coinbase’s card tie-up with Apple and Google. Other popular cryptos like Litecoin, Chainlink and XRP (Ripple) also witnessed a marginal slip.
However, the value of other cryptocurrencies like Dogecoin, Cardano and Stellar increased significantly in the same time. According to Coinbase, the value of Dogecoin was up over 15 per cent over its price 24 hours ago at around 9:25 am on Wednesday.
In a statement on Tuesday, the Internet and Mobile Association of India -Blockchain and Crypto Assets Council (IAMAI-BACC) said that it has set up a self-regulatory code of conduct that will see all crypto exchange members voluntarily complying with KYC (Know Your Customer), tax and other norms. The statement further mentioned that a formal board comprising eminent jurists, technical specialists and fintech compliance specialists will also be formed to oversee the implementation of this self-regulatory code.