Most cryptocurrencies have started jumping towards gains as 2023 enters its second month. On Thursday, February 2, Bitcoin opened with a three percent gain to trade at a price of $23,884 (approximately Rs.19.5 lakh). On international exchanges, BTC reeled off gains of around 3.50 percent to trade at a similar token. In the last 24 hours, Bitcoin is up $755 (about Rs. 61,782). With the BTC price rising, most altcoins are real assets.
ether opened with profits greater than Bitcoin. The second-most valued cryptocurrency rose 5.42 percent on Thursday. According to the Crypto price tracker by Gadgets 360, ETH is trading at a price of $1,670 (roughly 1.36 lakh). The cryptocurrency has seen growth of $87 (approximately Rs. 7,120) since last day’s price fixing.
Binance coin, Cardano, polygon, Solana, Speckle, Litecoinand avalanche — opened with profits.
Shiba Inu and Dogecoinsboth meme coins saw small but significant gains.
Meanwhile, stablecoins such as USD coin and Binance USD emerged among the few altcoins to open at losses today.
chain link, Lionand Near the log also listed discounts.
Overall, the crypto market valuation increased by 3.78 percent in the last 24 hours. acc CoinMarketCapThe value of the global crypto sector is currently $1.09 trillion (approximately Rs. 89.37.432 billion).
2023 has started on a positive note for cryptocurrencies, most of which are recovering from last year’s decline. Despite its volatility, the crypto sector has somehow protected itself against a ban in the world’s most populous nation, India.
India received its union budget for 2023-2024 on Feb. 1, under which Finance Minister Nirmala Sitharaman did not speak about curbing the crypto sector in the nation.
Actually sitharaman Not notably addressing the crypto topic in the first place, leaving industry players expecting tax breaks somewhat disappointed.
“While many crypto industry executives had high expectations for the 23-24 union budget and called for some key reforms like lowering the TDS rate from 1 percent to 0.01 percent and providing clarity on taxation, I honestly had none high hopes. It is best to wait until the Indian government fully understands what cryptocurrency is and the value it can bring to the Indian economy. Overall this budget is very considerate knowing the government is still trying to understand crypto and isn’t saying anything about crypto,” Kumar Gaurav, Cashaa’s founder and CEO, told Gadgets 360. Cashaa was founded in 2017 and is a neo-bank partnering with crypto companies.
Cryptocurrency is an unregulated digital currency, not legal tender and is subject to market risks. The information provided in this article is not intended to and does not constitute financial advice, trading advice or any other advice or recommendation of any kind offered or endorsed by NDTV. NDTV is not responsible for any loss arising from any investment made based on an accepted recommendation, forecast or other information contained in this article.
