Lagatar24 Desk
New Delhi, Dec.22: The crypto market appears to be on the mend after days of steady drops as Christmas gets closer. Bitcoin is currently trading for $51,484 (approximately Rs. 38.8 lakh) per token on Indian market CoinSwitch Kuber, up 0.80 percent. Bitcoin’s low-laying values in India have been hovering around $50,000 (approximately Rs. 37.7 lakh) in recent days. The world’s oldest cryptocurrency is valued at $ 49,255 on international platforms like CoinMarketCap (roughly Rs. 37.2 lakh).
Cardano, Ripple, Dogecoin, Shiba Inu, and Polygon, among other altcoins, have all seen big advances ahead of the event.
Ether, on the other hand, was on the losing end of the market swings. The second-most valuable cryptocurrency is currently selling for $4,230 (approximately Rs. 3 lakh) per token. Ether fell by 0.47 percent to hover around $4,000 per coin (roughly Rs. 3 lakh).
Only a few cryptocurrencies, such as Tether, USD Coin, and Bitcoin SV, were on the lower end of the scale with Ether.
The shift in market attitude comes as withdrawals from digital asset funds hit a new high of $142 million (approximately Rs. 1,073 crore). Investor trust in the crypto market has dipped in recent days due to a rather flat market momentum.
Crypto-related companies raised more than $30 billion (approximately Rs. 2,27,617 crore) from venture capital firms globally in 2021, the biggest amount ever raised. The same figure was $8 billion in 2018. (roughly Rs. 60,704 crore).
The crypto market in India appears to be developing as well, given that the proposal to ban private coins has been postponed for the time being.
