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- Bitcoin Price: Cryptocurrency Prices Latest Update | Massive Drops In Ethereum, Polkadot Uniswap And Bitcoin Lowest Return Price
MumbaiOne hour ago
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- US Regulator Delays Approval of Bitcoin ETFs, Leads to Decline
- Cryptocurrency prices are down 40-50% since May
The price of cryptocurrency, which is going to be a substitute for gold, has fallen drastically today. Its three currencies – Polkadat, Uniswap and Ethereum – have lost 6-6%. Also, in the last 1 year, bitcoin has proved to be laggy in terms of returns. That is, it has the lowest return, while it is the most popular.
US regulator downgraded
The major reason for the fall in the price of cryptocurrencies has been the case of the US regulator. The regulator has delayed the approval of bitcoin ETFs. This has worsened the sentiment of crypto investors. The prices of the top 10 digital currencies have shown a decline. US regulator Securities and Exchange Commission (SEC) said in a regulatory filing that the listing of the bitcoin ETF will be invited from the public for comments and a decision will be taken. However, many times before this the regulator has delayed its approval.
UK’s regulator is also worried
Like the US regulator, the UK’s regulator Financial Conduct Authority said that more people are now seeing crypto as a main investment as an asset. Whereas it is a gamble as the number of people taking bitcoin and such cryptocurrencies has increased to 2.3 million this year in the UK. The regulator has separately warned investors that it is largely unregulated crypto assets. It has lost 40-50% so far from its prices in May.
bitcoin price down 2.32%
Today the price of bitcoin has broken 2.32% to reach Rs 28 lakh. Its return in one year has been 283%. The price of Ethereum has fallen by 3.65% to Rs 1.73 lakh. Its return has been 1,040 % in one year. Binance Coin is trading at 26 thousand rupees after breaking 1%. The return in 1 year has been 2,165%. Polkadat has fallen 5.58% to Rs 1,599. Its return has been 604%. Uniswap is down 4.51% today.
Total market capitalization Rs 125 lakh crore
If we look at today’s price, the total market capitalization of the world’s crypto currency is 125 lakh crore rupees. In this the market cap of bitcoin alone is Rs 50.57 lakh crore. That is, 3.5 times more than the market cap of Reliance Industries, the country’s most valuable company. The market cap of Reliance is Rs 14 lakh crore. Ethereum is at number two. Its market cap is Rs 23.46 lakh crore. Cardano and Binance Coin have a market cap of over Rs 4 lakh crore.
Talking about India, there are 12-14 crypto exchanges that do business. The daily turnover in cryptocurrencies in India is in the range of Rs 1,000-1500 crore. However, it is less than 1% compared to the daily turnover of Rs 2 lakh crore in the stock market.
1.20 crore investors in the country
There are 1 to 1.20 crore investors in crypto currency in the country. Although there are 7 crore investors in the Indian market. It is much less than that. You can trade in crypto 24 hours a day. In recent days, since Tesla’s Elon Musk said that it will not take it as payment, its prices have fallen by 40 to 50%. Most investors in crypto are young people who learn and get influenced by social media.