Bitcoin is trading at $ 47,071 with a fall of about 0.4 percent. The world’s largest and popular cryptocurrency has seen an increase of about 2 percent in the year 2022 till date.
A mixed trend has been seen in cryptocurrencies on Thursday. Bitcoin is trading at $ 47,071 with a fall of about 0.4 percent. The world’s largest and popular cryptocurrency has seen an increase of about 2 percent in the year 2022 till date.
This is about 30 per cent off the record high of around $69,000 in November last year. On the other hand, Ether , the second largest cryptocurrency by market capitalization and coin linked to the ethereum blockchain, rose slightly to $3,391.
Meanwhile, the price of dogecoin has risen by more than 2 percent to $ 0.14. Whereas, Shiba Inu is trading at $ 0.0000027 with an increase of more than two percent.
Big boom in Solana
The performance of other digital tokens has also improved. Solana has seen an increase of more than 11 percent. Whereas, Polygon, Litecoin, Stellar, Cardano, Uniswap have also seen an increase during the last 24 hours.
Meanwhile, the global cryptocurrency market capitalization remains at over the $2 trillion mark. It is present at $2.25 trillion. In this, there has been a change of more than 2 percent during the last 24 hours.
In addition, the International Monetary Fund (IMF) has expressed concern over the huge financial risks involved in allowing the use of cryptocurrencies. At the same time, according to reports, India is in discussion with many agencies and domestic institutions about the regulatory framework.
The government was about to bring the bill in Parliament
Let us tell you that the government had listed the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 to be introduced in the winter session of Parliament. It was also listed for the first budget session, but it could not be presented, as the government had decided to work on it again.
Cryptocurrencies have emerged as a popular option among people in the recent times as an investment. Especially, a large number of youth are investing money in this.
Apart from this, many changes will be seen from the first day of the new financial year i.e. April 1. A major change is the tax on cryptocurrencies. This was announced by the Finance Minister in the recent budget. It said that all virtual digital assets or crypto assets will be taxed at 30 percent, if there is a profit on selling them.
