New Delhi: The cryptocurrency market was trading mixed, nursing the wounds of recent correction followed by muted appetite for the riskier asset class. Rising inflation and hawkish tone of central banks has kept investors on their toes.
Six out of the top 10 digital tokens were trading lower at 8.30 am IST, whereas the rest four were trading higher. Avalanche topped among gainers, whereas Solana and XRP dropped up to 5 per cent.
The global crypto market cap eased marginally to $2.19 trillion mark compared to the last day. However, the total crypto market volume gained more than 20 per cent to $94.82 billion.
What’s cooking in India?
Crypto is still in a legal grey zone but it has become a household phenomenon amid the pandemic as the prospect of multi-bagger returns attracted Indians to the highly volatile digital tokens.
According to Reuters, up to 15 million Indians own crypto assets. Crypto’s rising popularity caught policymakers’ attention earlier this year.
Parliament’s month-long winter session is set to end on Thursday and there are no signs of the bill still. To add to worries, the RBI last week told its board that a complete crypto ban was needed as partial restrictions won’t work.
Global Updates
CoinSwitch Kuber, India’s largest crypto company in terms of users, has added new crypto assets in the month of December for investors.
Decentraland (MANA), The Sandbox (SAND), Gala (GALA), Request (REQ), Coti (COTI) are the assets that are included on the platform. The crypto unicorn has initiated various education initiatives to inform and educate investors as part of this asset listing process.
Crypto Returns Calculator
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