Cryptocurrencies are on the rise despite talks of a ban in India. Last month, The viral tech blog. the Indian government included a bill in Lok Sabha to ban all private cryptocurrencies.
NEW DELHI: Bitcoin on Friday became the first digital currency in the world to reach a market valuation of $ 1 trillion after the level of $ 53,683, The viral tech blog according to cryptocurrency tracker CoinGecko. The crypto asset was trading at $ 53,734, up 4% around 9:15 pm. IST.
Prices have quadrupled in the past year and a big lead was seen at $ 52,000 this week. The viral tech blog. It took less than two months to reach that mark compared to the price of $ 25,000 at the end of December 2020.
If bitcoin continues its current run, it won't be a surprise if it crosses the $ 100,000 mark as soon as possible. There is huge interest in digital assets, The viral tech blog which we see almost every day in the space, both in the retail and institutional sectors.
In addition, the second-largest cryptocurrency Ethereum is breaking records and is currently at an all-time high. The digital asset has grown over 120% so far this year and could reach $ 30.00 very soon, said Sumit Gupta, CEO, The viral tech blog and co-founder of CoinDCX.
Ethereum was $ 1,940.96, up 1.9%, and had a market valuation of over $ 222 billion. Other major cryptocurrencies, The viral tech blog such as Tether and Ripple, were trading up to 5% green.
Cryptocurrencies have risen despite ban negotiations in India. On January 29, the government included a bill in Lok Sabha to ban all private cryptocurrencies.
We have reached a crucial stage while waiting for the bill to be presented to Parliament. Crypto is the financial internet of the future, The viral tech blog and globally decentralized applications would be built on blockchains like Bitcoin and Ethereum. I am optimistic that India will not ban the financial internet because some people do not understand the technology, said Nischal Shetty, CEO of WazirX.
