For the first time since May, bitcoin is making its last days and has crossed $57,000 (about Rs 42 lakh). At the time of writing, the world’s most popular cryptocurrency is trading at around $57,490 (approximately Rs 43.3 lakh) on Binance and CoinMarketCap, while on Indian exchange Coinswitch Kuber, the value of BTC is already above $59,000 (approximately Rs 44.8 lakh). is more. The cryptocurrency hit an all-time high of $65,000 (approximately Rs 48.9 lakh) in April this year and if the rally continues, we could set a new record in a day or two.
Ether and other altcoins, meanwhile, continue to make a steady break to the green. Gadgets360’s cryptocurrency price tracker shows that Ether saw a half-decent day of trading on Monday, opening at a valuation of Rs. 2,79,134 (approximately $3,740) on Coinswitch Kuber on Tuesday. The second most valuable cryptocurrency rose 1.29 percent through Monday, although a consistent rally has yet to begin.
Elsewhere, Cardano, Tether, Ripple and Polkadot all continued to lose 2-3 percent on average. It appears that Dogecoin is struggling to turn around its fortunes, which immediately fell 3.58 per cent to Rs. 17.96 (about $0.24). Meanwhile rival Memecoin Shiba Inu has somewhat held its own, climbing 19.65 percent compared to the start of the week for most other altcoins.
While the bitcoin rally has excited investors, El Salvador, the country that officially adopted bitcoin as legal tender in September, has drawn some criticism from Ethereum co-founder Vitalik Buterin.
El Salvador President Nayib Bukele has reportedly forced companies to accept bitcoin after adopting the cryptocurrency as legal tender – a move that saw Buterin express his anger in a Reddit discussion, where he Shared his comment in response to a post by another user.
In other news that hit the headlines, Bakkt – a platform for institutional investors to trade and store digital assets on a global network, announced a partnership with Google, allowing users to transfer their virtual Visa debit cards to Google Pay. In the store can add to the purchase of goods and services. and online.
Cryptocurrency is an unregulated digital currency, is not legal tender and is subject to market risks. The information in this article is not intended to be financial advice, trading advice or any other advice or a recommendation of any kind offered or endorsed by NDTV. NDTV shall not be liable for any loss arising out of any investment based on any alleged recommendation, forecast or any other information contained in the article.