Except for the dollar-pegged Tether, the other nine of the top 10 digital tokens were trading higher at 8.30am IST. avalanche expanded by 13 percent, while Terra and XRP skyrocketed 11 percent each.
Bitcoin, the number one digital token, slowly inched towards the $ 50,000 mark once again, while its behemoth Ethereum held above the $ 4,000 levels.
The global crypto market capitalization gained about 5 percent to $ 2.30 trillion compared to last day. However, the total volume of the cryptocurrency market fell more than 10 percent to $ 85.04 billion.
What is cooking in India?
Cryptocurrency players have suggested dual licenses for different types of cryptocurrency exchanges. Experts said the government will be very careful in developing regulations on exchanges.
Fiat's ramp-in exchanges, which allow people to convert cryptocurrencies into rupees and vice versa, require separate rules and regulations from crypto wallets or exchanges, which only allow trading within the crypto universe, the industry said.
Global updates
San Francisco-based crypto asset management platform Mudrex has launched an API-based crypto-as-a-service solution that enables crypto-specific and traditional brokers, portfolio management services, and fintech companies to provide investment products. secure cryptographic.
Crypto-as-a-service offers KYC, regulatory and compliance monitoring to brokerages. Meanwhile, the custody and processing of the cryptocurrency will be managed by Mudrex. The technology framework is fully built and supported by the global platform.
Michael Jordan and his son Jeffrey plan to develop a website where players can communicate directly with fans. 'HEIR' is the name of the platform, which was established on the crypto-based Solana blockchain. HEIR has funded $ 10 million to date and plans to launch it in 2022.
Technical view of cryptocurrency exchange BuyUcoin
Polkadot's price was unchanged even after the mega launch of the Polkadot parachute auction. Polkadot is 46% below his one-month high ($ 54). At the time of writing, Polkadot is up 5.15%. It received support at the $ 24 level, but was moving in a downtrend.
On a 4 hour time frame, DOT / USD RSI looks stronger as it has gained some momentum and hit the 53 level from the 30 level, which is a good sign. If the bulls stay strong there is a chance that an uptrend will start, the pair could rally towards $ 32, otherwise the bears could push their price towards another support level i.e $ 20.
(Opinions and recommendations given in this section are those of analysts and do not represent those of ETMarkets.com. Consult your financial advisor before taking any position on the assets mentioned).
