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. There are tensions between some countries and macro economic reasons behind this. The price of Bitcoin, the largest cryptocurrency in terms of market capitalization, fell by about 1.69 percent on international exchanges on Monday. It was down about 2.57 per cent at around $61,469 on Indian exchanges. The price of Bitcoin was trading at $57,480 on international exchanges.

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

The markets desk of crypto app CoinDCX told Gadgets360, “The crypto market was almost flat over the weekend. There has been a decline in this market in the last few years in the month of September. However, this trend may change. Behind this is the presidential election in America. “There could be reasons like possibility of reduction in interest rates and increase in 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 buying and selling of virtual assets in the near future. MP GM Harish Balayogi had raised questions on the government’s stance regarding this segment. He had asked whether the government has any proposal to bring rules to regulate the crypto segment. In response, Chaudhary had said, “There is no proposal to bring a law to regulate the buying and selling of virtual digital assets. However, the Financial Intelligence Unit (FIU) has been authorized for special purposes of monitoring such as anti-money laundering.” Has gone.” Last year, during its presidency of the G20, India collaborated with the International Monetary Fund (IMF) and the Financial Stability Board (FSB) with the aim of drafting crypto-related legislation for all members of the G20 group.