Second largest cryptocurrency Ethereum There was a decline of about five percent. Its price was in the range of $2,279 to $2,289. Apart from this, the prices of Chainlink, Polkadot, Litecoin, Ripple, Cardano, Elrond, Polygon and Cronos have also decreased. Cryptocurrencies with profits included Binance coin, Solana, Near Protocol and Binance USD. In the last one day, the market capitalization of crypto declined by 3.14 percent to about $ 2.03 trillion.
Shivam Thakral, CEO of crypto exchange BuyUcoin, told Gadgets360, “Despite short-term uncertainty, analysts are positive. The market decline could create a buying opportunity. Bitcoin and Solana are showing signs of recovery.” Despite high taxes in the country, investors’ interest in cryptocurrencies is increasing. This is the second consecutive year in which India has a high ranking in the world for investment in cryptocurrencies. However, in the last few months, regulators have also taken strict action against some firms in this segment.
Blockchain analytics firm Chainalysis has Report It has been told that between June last year and July this year, the use of centralized exchange and decentralized finance assets has increased in the country. The central government has taken a tough stance regarding the crypto segment in the country since 2018. Late last year, nine offshore crypto exchanges were issued show cause notices by the Financial Intelligence Unit (FIU) for non-compliance with regulations. Recently Binance, one of the largest crypto exchanges, received a notice to pay GST of Rs 772 crore. After this Binance reiterated its commitment to comply with the laws of the country.
