Lagatar24 Desk
Mumbai, Dec 31: The crypto charts looked robust and drenched in green on the last day of the year 2021. According to Indian exchange CoinSwitch Kuber, Bitcoin’s trading value remained at $51,007 (approximately Rs. 37.9 lakh) after a 0.73 percent gain.
The world’s oldest cryptocurrency is currently trading at over $47,209 (nearly Rs. 35 lakh) per token on major markets such as CoinMarketCap and Binance. Bitcoin has had a difficult few days after falling from an all-time high of $69,000 (approximately Rs. 51 lakh) last month and struggling to maintain even moderate growth since then.
Bitcoin was followed by Ether, which gained 1.61 percent. Each Ether coin is currently trading at $4,060 on Gadgets 360’s crypto price tracker (roughly Rs. 3,01,877).
Along with Bitcoin and Ether, other popular cryptocurrencies such as Cardano, Ripple, Polkadot, Dogecoin, Shiba Inu, and Polygon saw rises.
On the last day of 2021, a tiny group of coins, including Tether, USD Coin, and Bitcoin Cash, failed to gain traction and experienced losses.
Altcoins are expected to increase in the near future, according to industry analysts, as Bitcoin’s dominance grows with minor but consistent gains.
The year 2021 has become a watershed moment in the crypto world. El Salvador became the first country to recognise Bitcoin as legal cash in September, further establishing the crypto industry.
In October, the New York Stock Exchange (NYSE) issued the first Bitcoin futures exchange-traded fund (ETF), pushing the price of Bitcoin to a new all-time high.
This year, crypto-related businesses raised more than $30 billion (approximately Rs. 2,27,617 crore) in venture capital funding, quadrupling their previous year’s total.
According to a research released earlier this year by Bank of America (BofA), industries backed and based on cryptocurrencies have experienced a massive global growth, making the industry “too large to ignore.”
According to the report, crypto mergers and acquisitions increased from $940 million (approximately Rs. 7,025 crores) in 2020 to $4.2 billion (about Rs. 31,390 crores) in 2021.
