Crypto Currency News
Bitcoin
$64,932.53
+553.41
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$3,551.99
+130.88
Litecoin
$74.20
+2.47
DigitalCash
$23.56
+0.93
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Bitcoin Price Today: Top Cryptocurrency Prices Today: Bitcoin, Ethereum, Binance Coin Trading Higher

New Delhi: The cryptocurrency market nursed its wounds on Wednesday as the crypto cart traded at easy gains. However, Hawk voices around the world kept the wins in check.

Aside from Terra, Polkadot, and Dollars, which are pegged to stablecoins, another six of the top 10 digital tokens were trading in green at 8:40 a.m. Profits were capped, however, with Binance Coin and Cardano only gaining up to 2 percent.

Global crypto market cap increased over one percent from last day, hitting the $ 2.23 trillion mark. The total volume of the crypto market rose over 17 percent to $ 103.41 billion.

What is cooked in India?

Cryptocurrency platforms are subject to increased scrutiny by tax authorities for evasion of goods and services tax (GST).

Legal experts have long been discussing the categorization and tax treatment of cryptocurrencies. You still have to agree on whether cryptocurrency is a currency, a commodity, a service, or something else.

Expert opinion

The integration of cryptocurrency into popular games will give a huge boost to global crypto adoption and confirm SBF’s prediction, said WazirX Trade Desk.

“This would open up a huge customer base for the cryptocurrency market and quick adaptation as players worldwide have a huge community and are open to new technological advances,” she added.

Non-fungible tokens rose in importance in 2021, with sales of these digital assets breaking records at auctions, said Darshan Bathija, co-founder and CEO of Vauld.

Bitcoin made strides in mainstream adoption, with institutions not only adding it to their balance sheets, but adding it as a means of payment. Crypto ICOs over the past year have highlighted the exponential growth of digital assets.

“More crypto companies are likely to go public in 2022,” he added. “More institutions will adopt Bitcoin as a balance sheet asset and certain countries may see Bitcoin as a useful monetary instrument as well.”

Global updates

After the US Federal Reserve took some momentum from the cryptocurrencies by a restrictive turn at the end of the year and largely spared other risk assets, central bank policy is playing a key role in the debate about the prospects for tokens in 2022.

Sam Bankman-Fried, founder of FTX crypto exchange, believes the security offered by government agencies around the world will boost institutional use of crypto this year and years to come.

SBF discussed crypto rules, institutional acceptance and the metaverse in a Bloomberg interview on January 3rd. SBF is “optimistic” for 2022, despite the turbulent close of the market for 2021.

“A lot also depends on what exactly is happening on the legislative front,” he said when asked how he thinks the institutional acceptance of crypto would increase in the future.

According to Statista, there were around 3.2 billion players on the globe in 2021. According to DappRadar, the crypto gaming business only counts 1.2 million players.

Tech view of BuyUcoin cryptocurrency exchange

Shiba Inu is one of the trending coins of this week as the Shiba team announced the launch of DOGGY DAO. It was a highly anticipated project as it gives platform users more authority. It will improve platform transparency and be more decentralized.

Shiba Inu is currently trading below the moving average, which suggests a bearish trend even if the RSI is between the 20-40 levels, indicating the oversold condition. SHIBA has his support at $ 0.00032 which gives him a pull-up and resistance at $ 0.00034.

ETMarkets.com

The upper side of the Bollinger Band is at $ 0.0003445 which acts as a resistor. The lower side of the Bollinger Band is at $ 0.000328 which acts as a support. The price of Shiba can go as high as $ 0.0003445 within that week or otherwise. If bears remain in the majority, it can plummet to $ 0.000294.

Key Resistance Levels: $ 0.00034, $ 0.000037

(The views and recommendations in this section are the analysts’ own views and recommendations and do not reflect those of ETMarkets.com. Please consult your financial advisor prior to entering into any position on any of the assets.)

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