Crypto Market in Red, Bitcoin Price More than USD 57,400, Ether, Solana, Litecoin

There has been volatility in the crypto market for the last few weeks. The reason behind this is the tension between some countries and macroeconomic reasons. The price of Bitcoin, the largest cryptocurrency in terms of market capitalization, fell by about 1.69 percent on international exchanges on Monday. On Indian exchanges, it fell by about 2.57 percent to around $ 61,469. The price of Bitcoin was trading at $ 57,480 on international exchanges.

Ether was down 0.11 percent. According to Gadgets360 Crypto According to the price tracker, the price of Ether was around $2,424. It was around $2,439 on international exchanges. The prices of Bitcoin Cash, Polkadot, Near Protocol and Polygon also fell. The rising cryptocurrencies included USD Coin and Bitcoin Hedge. The market capitalization of crypto fell by about 1.44 percent to around $2.02 trillion.

The markets desk of crypto app CoinDCX told Gadgets360, “The crypto market was almost flat over the weekend. This market has seen a decline in the month of September in the last few years. However, this trend may change. The reasons behind this could be presidential elections in the US, the possibility of a reduction in interest rates and increased funding in ETFs.” The central government has no plans to regulate this segment. The European Union (EU) and UAE have made rules related to the crypto segment.

Recently, in a written reply in the Lok Sabha, Minister of State for Finance Pankaj Chaudhary had said that there is no proposal to make a law to regulate the purchase and sale of virtual assets in the near future. MP GM Harish Balayogi had questioned the government’s stand on this segment. He had asked whether the government has any proposal to bring rules to regulate the crypto segment. In response to this, Chaudhary had said, “There is no proposal to bring a law to regulate the purchase and sale of virtual digital assets. However, the Financial Intelligence Unit (FIU) has been authorized for special purposes of surveillance such as anti-money laundering.” During its presidency of the G20 last year, India collaborated with the International Monetary Fund (IMF) and the Financial Stability Board (FSB) with the aim of drafting a crypto-related law for all members of the G20 group.