Bitcoin, the largest cryptocurrency by market value, was trading 2.45% higher at $43,931.35. It has risen 8.3 percent in the last seven sessions. Ethereum added 2.79 percent to $3,118. The second largest cryptocurrency by market value is up 12.11 percent in the past week.
BNB advanced 1.09 percent, USD Coin was down 0.02 percent, while XRP fell 0.12 percent. Cardano gained 3.47 percent, taking its seven-day gains to 37 percent.
Terra fell 2.05 percent to $93.29. Solana jumped 8 percent, while Polkadot rose 0.09 percent. Avalanche advanced 1.82 percent. Dogecoin fell 1.1 percent and Shibu Inu fell 0.3 percent.
The global cryptocurrency market capitalization rose to $1.99 trillion, up 2.18 percent in the last 24 hours. Total cryptocurrency trading volumes rose 6.85 percent to $104.7 billion, according to Coinmarketcap.
What is cooked in India?
People who have provided services to clients outside of India and received payments in cryptocurrencies are rushing to their tax advisors for clarity on the applicability of GST. While direct tax rules are simple and will be taxed at 30%, a new complication has arisen in the form of GST, tax experts say. It is not yet clear how much GST is applicable to these transactions or if these transactions can be considered legitimate.
As part of the amendments to the Finance Bill, the Center has proposed further tightening of tax proposals around crypto assets. In accordance with amendments to the Finance Bill 2022 circulated among Lok Sabha members, the ministry is proposing to remove the word "other" from the section related to compensation of profit losses in virtual digital assets.
global updates
Bank Leumi will become the first Israeli bank to enable cryptocurrency trading, its digital platform Pepper Invest said on Thursday after partnering with US blockchain firm Paxos. He said the new service will allow Pepper Invest clients to buy, hold and sell cryptocurrencies, limited to Bitcoin and Ethereum, for now, in transactions worth at least 50 shekels ($15.49).
The Bank of England on Thursday urged global authorities to increase supervision of the cryptocurrency sector to prevent it from becoming a risk to financial stability. The British central bank's Financial Policy Committee (FPC), which is tasked with safeguarding the financial system, revealed the conclusion in a key report on the volatile industry.
Cryptocurrency Cart: Quick Look (Source: coinmarketcap.comdata as of 0900 IST 25 March 2022)
Bitcoin: $43,931.35, up 2.45%
Ethereum: $3,119.91, up 2.96%
Tether: $1.00, up to 0.02%
BNB: $413.25, up 1.03%
USD currency: $0.99, flat
XRP: $0.8398, up 0.03%
Cardano: $1.13, up 3.67%
Terra: $93.38, 1.76% less
Solana: $103.18, up 8.24%
Avalanche: $86.29, up to 1.95%
Polkadot: $21.06, up 0.16%
Dogecoin: $0.1359, down 1.03%
Shibu Inu: $0.0000245, 0.69% off
