Lagatar24 Desk
Mumbai, Dec.27: Despite Omicron worries dampening Christmas festivities, the crypto market has managed to keep the charts green ahead of the year end. Bitcoin entered the final week of 2021with a gain of 2.23 percent. The oldest cryptocurrency is currently trading at $53,894 (roughly Rs. 40.4 lakh). It is currently trading at $51,015 (approximately Rs. 38.3 lakh) per token on international markets such as Binance and CoinMarketCap. After days of repeated falls, Bitcoin values rocketed beyond $50,000 (approximately Rs. 37.5 lakh) just a day before Christmas.
On the other hand, Ether was trading at $4,306 (approximately Rs. 3.23 lakh) at the time of writing, up 0.92 percent. Even though the gain is minor, it implies that Ether is making progress.
Other cryptocurrencies, including as Cardano, Ripple, Polkadot, Dogecoin, Shiba Inu, and Polygon, followed Bitcoin and Ether on the upward track.
Only Tether and USD Coin were on the losing end of the price chart, with 0.67 percent and 0.56 percent losses, respectively.
According to CoinMarketCap, the worldwide crypto market capitalization has climbed to $2.39 trillion (approximately Rs. 1,80,02,836 crore) between Christmas and New Year’s celebrations, up from $2.35 trillion (about Rs. 1,77,02,311 crore).
From $72.62 billion, the crypto trading volume has grown to $75.03 billion (approximately Rs. 5,63,587 crore) (roughly Rs. 5,45,485 crore).
Meanwhile, the debate between proponents and opponents of cryptocurrency is as heated as ever.
Senator Cynthia Lummis of the United States has stated that she intends to present legislation to change the legal and regulatory landscape for cryptocurrencies in the United States next year.
El Salvador’s President, Nayib Bukele, has declared that “fiat currencies are doomed,” urging Bitcoin adoption.
However, in India right wing social and political organisation Swadeshi Jagran Manch has reached out the central government calling for a complete ban on crypto activities, as per news reports.
