Crypto ban in India

The government is likely to introduce the cryptocurrency bill during the ongoing session of the Parliament, and Prime Minister Narendra Modi is likely to take a final call regarding its framework.

Cryptocurrency Update: The global cryptocurrency market on Saturday, December 11, dipped slightly further amid a constant decline over the past many days due to a variety of factors. he global cryptocurrency market cap, at the time of writing this article, was standing at 2.24 trillion, data from global crypto tracking CoinMarketCap showed. This was up down by 0.86 per cent over the past 24 hours. The crypto volume numbers however increased through the day. The volume of traded coins stood at $105.71 billion, which was a 1.77 per cent dip over the last 24 hours. The negative trend in the cryptocurrency market is mainly fuelled by the fear of the Omicron variant of COVID-19. This was also followed by profit booking from investors after the prices rose slightly last week.

Among major global crypto coins, Bitcoin hovered around the $48,000 mark on the day but rose a bit as compared to Friday. The price of one Bitcoin at the time of writing this article was standing at $48,487.45, data from CoinMarketCap showed. This was up by 0.06 per cent over the last 24 hours and 2.95 per cent over the last seven days. Around a week back, Bitcoin prices had scaled its week-low amid Covid scare. “Bitcoin’s dominance is currently 40.86 per cent, an increase of 0.43 per cent over the day," said a note on the CoinMarketCap website.
On the other hand, the prices of Ethereum declined a bit over the course of the last day. One unit of the largest altcoin, Ether, was standing at $4,023.52 at the time of writing this article. This was down by 2.05 per cent over the past 24 hours but up by 3.16 per cent over the past seven days, according to data.